Isabel Company has an equipment costing P700,000 with an estimated residual value of P70,000 and an estimated useful life of 6 years. After depreciating the asset for two years using straight-line method of depreciation, the company upgraded the machine parts and the cost of upgrading

A company purchased a machine for $190,000. The machine has a useful life of 8 years and a salvage value of $10,000. It is estimated that the machine could produce 75,000 bolts over its useful life. In the first year, 15,000 bolts were produced. In the second year, production increased to 19,000 units. Using the units-of-production method, what is the amount of accumulated depreciation at the end of the second year? Multiple Choice   $48,133.   $86,133.   $23,750.   $81,600.   $45,600.

Mango Company purchased equipment for $100,000 and assigned it an estimated salvage value of $10,000 and a useful life of 10 years. After two years of using the double-declining balance method for depreciation, the company decided to switch to the straight-line method. The company also revised the equipment's remaining useful life to 6 years. What is the depreciation expense for the equipment for the third year? Answer a. $12,000 b. $9,000 c. $11,500 d. $13,500

The Black Limo Company (BLC) purchased a limo on January 1 of Year 1. The limo cost $48,000. It had an expected useful life of 4 years and a $8,000 salvage value. At the start of Year 2, BLC determined the salvage value should be changed to $11,000. Based on this, the depreciation expense recorded in Year 2 will be $

Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,831. The useful life is 7 years and the salvage value is $12,938. Prepare a depreciation schedule using the straight-line method.

A company used straight-line depreciation for equipment that cost $12,000, had a salvage value of $2,000, and a 5-year useful life. At the beginning of year 4 of its useful life, the estimate of the salvage value was reduced to $1,200 and its total useful life was increased to 6 years. The amount of depreciation that will be recorded during each of the remaining years of its useful life is: $2,000 $6,000 $1,600 $2,400

Layton Company purchased tool sharpening equipment on October 1 for $108,000. The equipment was expected to have a useful life of three years, or 12,000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1, 4,200 hours in Year 2, 3,650 hours in Year 3, and 2,800 hours in Year 4.  In a table show depreciation expense, accumulated deprecation at the end of the year, beginning and ending book value (Use double declining method only)   Cost        Beginning   Book Value      Accumulated    Deprecation   Depreciation    expense    Book value    at End

Sunland Company purchased a truck for $46,000. The company expected the truck to have a useful life of four years or 95,000 kilometres, with an estimated residual value of $8,000 at the end of that time. During the first and second years, the truck was driven 21,000 and 27,500 kilometres, respectively. Calculate the depreciation expense for the second year under the straight-line, units-of-production, and double-diminishing-balance methods. Assume the purchase of the truck was made at the beginning of the first month of the first year. (Round depreciation per kilometre to 2 decimal places, e.g. 1.25 and final answers to O decimal places, e.g. 5,275.) Straight-line method Units-of-production method $ GA LA Double-diminishing-balance method $ GA Year 2 Depreciation Expense

Computer equipment was acquired at the beginning of the year at a cost of $57,000 that has an estimated residual value of $9,000 and an estimated useful life of 5 years. Determine the 2nd year's depreciation using straight-line depreciation method.

Watkins Production purchased a new computerized machine at a cost of $450,000. The machine has a residual value of$64,000 and an expected life of 5 years. Calculate the depreciation expense, accumulated depreciation and book value for all 5 years ofthe machine's expected life using the straight-line method of depreciation