Provide step by step manual solution, given, and depreciation table for below mentioned problem. Make sure yet that your answer is the same as the given answer before sending your solution. An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8,000. Calculate the depreciation charge at the end of the fourth period using fixed-percentage method. Answer. P5,263.87
Q: Use the MACRS to calculate the yearly depreciation allowances and book values for a firm that has…
A: Given information is: A firm that has purchased $150,000 worth of office equipment that does not…
Q: An equipment costing Php 750,000 has a life expectancy of 6 years. Using the sum-of-the–year’s digit…
A: Depreciation can be defined as the non-cash expense that has a major role in financial statements.…
Q: The price of a system of jockey pumps is P5,500,000. PLM decided to purchase this system and spent…
A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…
Q: Use the double-declining-balance method to make a depreciation schedule for a piece of equipment…
A: The double declining balance method of depreciation is an accelerated method of depreciation in…
Q: Consider an asset with a cost of SR500,000, useful life of 8 years and salvage value zero. If you…
A:
Q: A laboratory centrifuge costs $79,000 and has a $5530 salvage value with an 8-year recovery period.…
A: Depreciation under double declining balance method is charged at the rate twice of what is used in…
Q: 1. A Machine costs P80,000 and an estimated life of 10 years with a salvage value of P5,000. What is…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: An asset costs R10 000 and has a useful life of five years and a residual value of R1 000. Which one…
A: The depreciation expense is charged on fixed assets as reduction in value of fixed assets with the…
Q: A machine can be purchased for $60,000 and used for five years, yielding the following net incomes.…
A: Payback period refers to the time period that is required to recover the initial cost. With the help…
Q: The first cost of a machine is Php 1,800,000 with a salvage value of Php 400,000 at the end of its…
A: Depreciation = C × (S/C)m/n C = original cost S = scrape value n = life of property in years m =…
Q: A machine can be purchased for $222,000 and used for five years, ylelding the following net Incomes.…
A: Payback period is the time taken by the project to cover its initial investment. It is the time to…
Q: Use the following data: Asset cost $120,000 Expected life 4 years Estimated salvage value…
A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…
Q: Under MACRS, an asset which originally cost R100,000, incurred installation costs of R10,000, and…
A: Given, Meaning of Depreciation expense :- It's the asset cost which has been decreased or…
Q: Using the following data, solve for the depreciation and book value and prepare tabulation of book…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Prepare a UOP depreciation schedule based on the given annual usage, then enter the book value at…
A: Depreciation is defined as the reduction in the value of fixed asset due to its usage and wear and…
Q: Using the following data, solve for the depreciation and book value and prepare tabulation of book…
A: If the value of an asset gets reduced due to the normal usage in the the operation of the business,…
Q: A new barcode reading device has an installed cost basis of $22,820 and an estimated service life of…
A: The declining balance method is the method of calculating depreciation where higher depreciation is…
Q: Your company is considering the purchase of a secondhand scanning microscope at a cost of $10,500,…
A: Meaning of Depreciation Schedule Depreciation schedule is a table which contains all the details…
Q: A new barcode reading device has an installed cost basis of $21,490 and an estimated service life of…
A: The calculation of depreciation expense for the year eight, book value at the end of year seven and…
Q: A new barcode reading device has an installed cost basis of $23,790 and an estimated service life of…
A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…
Q: Given an asset which has an initial cost of $100,000, Useful life of 4 years and a salvage value of…
A: Straight line depreciation rate=100%Useful lifeDouble declining depreciation rate=Straight line…
Q: machine costs PhP 7 654 + 32 x (01), lasts 8 years and has a salvage value at the end of PhP 345.…
A: Sum of digits method in this sum of digits is used for depreciation.
Q: Explain why fixed assets are depreciated.
A: Fixed assets are those assets that are held for more than one accounting period and provide the…
Q: The new delivery truck is worth a total of Php 7.4M, with a residual value after 8 years is Php…
A: In a diminishing balance method of depreciation, higher depreciation is charged in the initial years…
Q: A manufacturing company is planning to install an equipment having a first cost of $90K and a…
A: Depreciation formula for types of depreciation methods: Depreciation by SLM = (First cost - Salvage…
Q: A new barcode reading device has an installed cost basis of $20,670and an estimated service life of…
A: Double declining balance method is a method which is used to determine the value of depreciation…
Q: 4. What is the depreciation rate if you are using the declining balance method? Note: For no. 4, the…
A: Depreciation is a way of declining the cost of assets over the useful life of assets, the company…
Q: A machine equipment has an initial purchase price of 20000 TL, an estimated scrap value of 2000 TL…
A: Depreciable cost=Initial purchase price-Scrap value=20,000-2,000=18,000
Q: Using the following data, solve for the depreciation and book value and prepare tabulation of book…
A: Depreciation is the amount of reduction in the cost of assets due to use of assets in the activities…
Q: has a 12-year service life and a $120,000 salvage value, and it uses straight-line depreciation.…
A: Annual rate of return :- Annual rate of return by taking Annual profit after tax dividend by Annual…
Q: What will the depreciation charge be in year seven? What will be the book value at the end of year…
A: Formula: Rate of DDB Depreciation= 100%Usefull Life×2 Given: CNC machine $35,000 Service life 7…
Q: If B = $400,000, n = 6 years, and S is estimated at 15% of B for a new pavement recycling machine,…
A: Depreciation: Depreciation refers to the reduction in the monetary value of a fixed asset due to…
Q: Anew barcode reading device has an installed cost basis of $21,700 and an estimated service life of…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: A machine can be purchased for $150,000 and used for five years, yielding the following net incomes.…
A: Definition: Cash payback method: The cash payback period is the expected time period which is…
Q: A machine can be purchased for $150,000 and used for five years, yielding the following net incomes.…
A: Payback period: It can be defined as the time that is taken by an investment before it starts…
Q: An asset will cost $1,750 when purchased this year. It is further expected to have a salvage value…
A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…
Q: An underground rock mechanics testing device is to be double declining depreciated. It has a first…
A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…
Q: A machine has a life of 25 years, costs $250,000, and has a salvage value of $20,000 using…
A:
Q: The salvage value S (in dollars) of a company jet after t years is estimated to be given by the…
A: As salvage value is given by following formula is we will put value in t to arrive at depreciation…
Q: The double-declining-balance method is to be used for an asset with a cost of $90.000. estimated…
A: Given, The cost of asset is $90,000 Life of asset is 5 years The salvage value at the end is…
Q: An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8,000.…
A: C = 50,000 S = 8,000 Life expectancy = 6 Depreciated value = D
Q: A piece of machinery costs P50,000 and has an anticipated P8,000 salvage value at the end of its…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: A machine has an initial cost of $25,000, annual operating cost of $4,500 and a salvage value of…
A: Double-declining balance method (Accelerated method): In this method of depreciation, the…
Provide step by step manual solution, given, and
An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8,000. Calculate the depreciation charge at the end of the fourth period using fixed-percentage method.
Answer. P5,263.87
Step by step
Solved in 3 steps
- Kindly provide step by step manual solution. An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8,000. Calculate the depreciation charge at the end of the fourth period using fixed-percentage method.Description You are to create a year-by-year depreciation schedule for an asset that has a cost basis (B) of $950,000 and estimated salvage value (SV 10) of $80,000 after 10 years. For the straight-line and declining balance methods, use a depreciable life (N) of 10 years. For MACRS, use a recovery period (N) of 7-yrs. ΕΟΥ, Κ 0 1 2 3 st 4 5 6 7 8 'a 9 10 Straight-Line BVk $950,000 Declining Balance dk BVk $950,000 dk MACRS BVk 950,000Please complete the solution for this. Draw also the diagram like in the given example An asset was purchased six years ago at a cost of P70,000. It was estimated to have a useful life of ten years with a salvage value of P300 at the end of the time. It is now of no future use and can be sold for only P800. Determine the sunk cost if depreciation has been computed by: a) The straight-line method b) The sinking fund method at 6.5% interest c) The declining balance method with 10% depreciation rate d) The double-declining balance e) The sum-of-the-year's digits method Attached image is for the formula to be use:
- An equipment costing Php 750,000 has a life expectancy of 6 years. Using the sum-of-the–year’s digit method of depreciation, what must be its salvage value such that its depreciation charge at the fourth year is Php 50,000? Solve show solution.Consider the following data on an asset: • Cost of the asset = $38,000 • Useful life = 6 years • Salvage value = $5,000 Compute the annual depreciation allowances and the resulting book values using a 150% declining balance method. Make sure that the last year's book value equals to the salvage value.A machine has a first cost of P36,000 and a salvage value ofP4,000 after 8years. Find the annual depreciation rate using straight line method.
- A Machine costs ₱80,000 and an estimated life of 10 years with a salvage value of ₱5,000. What is the book value after 5 years using the following methodology? a. Straight Line Method. BV5=₱42,500 b. Sinking Fund Method if i=9%. BV5=₱50,456.44 c. Declining Balance Method if the depreciation cost is equal to the value of i. BV5=₱49,922.57 d. Double Declining Balance Method. BV5=₱26,214.40 e. Sum of the Years Digit Method. BV5=₱25,454.5 f. Service-Output Method. Assuming that the total service of the machine is 1,497,600 hours and the number of working days per year is 260 days. What is the book value after 4 years if the machine production time a is 24 hours? BV4=₱79,687.381. An engineer with Accenture Middle East BV in Dubai was asked by her client to help understand the difference between 175% DB and DDB depreciation. If B = Php 195,000, n = 11 years, and S = Php 25,000: a. What are the book values for both methods after 10 years? b. What are the salvage values after the useful life?Solve what is ask. Show complete solution. Avoid using Excel. Solve manually. A. The first costs of an equipment is P 65, 000 and a salvage value of P 3, 000 at the end of its 6 years life. Find the total depreciation up to the third year using the Sum of the Years Digit Method. a. 44, 286 b. 38, 148 c. 36, 654 d. 42, 824 B. A man deposits P 1000 at the end of each month for 3 years at a nominal rate of 12% compounded monthly. Compute the future worth of all his payments at the end of 3 years? a. 41 224 b. 36 089 c. 43 077 d. 50 102
- A depreciable asset has a cost of P120,000, estimated useful life of 8 years, and an estimated residual value of P20,000.1. What is the depreciation rate if you are using the straight line method?2. What is the depreciation rate if you are using 150% declining balance method?3. What is the depreciation rate if you are using double declining balance method?Note: For nos. 1 to 3, the rate must be rounded off to two decimal places. Ex: 10.00%, 12.30%, 15.55%4. What is the depreciation rate if you are using the declining balance method?Note: For no. 4, the rate must be rounded off to 6 decimal places. Ex: 10.123456%5. Using SYD method, what is the depreciation expense for the 1st year?6. Using SYD method, what is the carrying amount at the end of the 6th year?7. Using double declining balance method, what is the carrying amount at the end of the 3rd year? Subparts 4-5 onlyA depreciable asset has a cost of P120,000, estimated useful life of 8 years, and an estimated residual value of P20,000.1. What is the depreciation rate if you are using the straight line method?2. What is the depreciation rate if you are using 150% declining balance method?3. What is the depreciation rate if you are using double declining balance method?Note: For nos. 1 to 3, the rate must be rounded off to two decimal places. Ex: 10.00%, 12.30%, 15.55%4. What is the depreciation rate if you are using the declining balance method?Note: For no. 4, the rate must be rounded off to 6 decimal places. Ex: 10.123456%5. Using SYD method, what is the depreciation expense for the 1st year?6. Using SYD method, what is the carrying amount at the end of the 6th year?7. Using double declining balance method, what is the carrying amount at the end of the 3rd year?A new barcode reading device has an installed cost basis of $22,820 and an estimated service life of nine years. It will have a zero salvage value at that time. The 150% declining balance method is used to depreciate this asset. a. What will the depreciation charge be in year nine? a. The depreciation charge in year nine will be $ (Round to the nearest dollar.)