Revision of depreciation. Equipment with a cost of $698,500 has an estimated residual value of $63,500, has an estimated useful life of 25 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. $ b. Determine the book value after 13 full years of use. c. Assuming that at the start of the year 14 the remaining life is estimated to be 18 years and the residual value is estimated to be $53,300, determine the depreciation expense for each of the remaining 18 years.

Disposal of fixed asset Equipment acquired on January 6 at a cost of $386,400 has an estimated useful life of 10 years and an estimated residual value of $50,400. a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 1 Year 2 Year 3 b. What was the book value of the equipment on January 1 of Year 4? c. Assuming that the equipment was sold on January 3 of Year 4 for $271,300, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. January 3 d. Assuming that the equipment had been sold on January 3 of Year 4 for $291,300 instead of $271,300, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. January 3

A piece of equipment is purchased for $40,000 and has an estimated salvage value of $1,000 at the end of the recovery period. Prepare a depreciation schedule for the piece of equipment using the straight-line method, the sum-of-the-years method, and the 200% declining-balance method with a recovery period of five years. Compare these depreciation methods in a graph.

Units-of-activity Depreciation A truck acquired at a cost of $250,000 has an estimated residual value of $15,500, has an estimated useful life of 35,000 miles, and was driven 3,200 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate %24 per mile (c) The units-of-activity depreciation for the year

A truck with a cost of $123,000 has an estimated residual value of $24,000, has an estimated useful life of 12 years, and is depreciated by the straight-line method. a.  Determine the amount of the annual depreciation.$ b.  Determine the book value at the end of the seventh year of use.$ c.  Assuming that at the start of the eighth year the remaining life is estimated to be six years and the residual value is estimated to be $15,000, determine the depreciation expense for each of the remaining five years.$

Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $2,200,000 has an estimated residual value of $400,000 and an estimated useful life of 20 years. Determine the following: (a) The depreciable cost (b) The straight-line rate (c) The annual straight-line depreciation $ %

K Depreciation Norton Systems acquired two new assets. Asset A was research equipment costing $19,000 and having a 3-year recovery period. Asset B was duplicating equipment having an installed cost of $56,000 and a 5-year recovery period. Using the MACRS depreciation percentages, prepare a depreciation schedule for each of these assets. Complete the depreciation schedule for asset A below: Recovery Year 1 ... Depreciation (Round to the nearest dollar.) edit: 0 Qu Qu

Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $134,200 has an estimated residual value of $5,200 and an estimated useful life of 10 years. Determine the following: (a) The depreciable cost     (b) The straight-line rate   % (c) The annual straight-line depreciation

Equipment acquired on January 8, 20Y1, at a cost of $675,000, has an estimated useful life of 17 years and an estimated residual value of $135,000. What was the annual amount of depreciation for the years 20Y1, 20Y2, and 20Y3, using the straight-line method of depreciation? Round annual depreciation to the nearest dollar and use this amount in your follow-on calculations. Depreciation expense 20Y1$ 20Y2$ 20Y3$

Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $134,200 has an estimated residual value of $5,200 and an estimated useful life of 10 years. Determine the following: (a) The depreciable cost (b) The straight-line rate % (c) The annual straight-line depreciation