FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- PLEASE PROVIDE CORRECT SOLUTION AND ANSWER ASAParrow_forwardi need the answer quicklyarrow_forwardA machine costs $20,000. The machine can be disposed of after 2 years for $10,000. What is the ordinary gain using the following depreciation methods? 100% bonus depreciation. 5-year MACRS. 150% declining balance with N=5 yearsarrow_forward
- 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. P5,263.87arrow_forwardrrarrow_forwardSUBJECT: ENGINEERING ECONOMYTOPIC: DEPRECIATION SHOW THE COMPLETE AND DETAILED SOLUTION OF THIS PROBLEM. THANK YOU EXPERTS. E) Determine the rate of depreciation, the total depreciation up to the end of the 8th year and the book value at the end of 8 years for an asset that costs P150,000 when new and has an estimated scrap value of P20,000 at the end of 10 years using the double declining balance method.arrow_forward
- 1 A new backhoe costs Bob the Builder $X. It is expected to have a salvage value of $Y after N years. What rate of depreciation for the declining-balance method should Bob be using? X= Y= N= Depreciation Rate $750,000 $58,000 29 years Try Again What is the Book Value after 25 years? Try Again (Use unrounded rate)arrow_forwardAn asset cost $200,000. It has a salvage value of $40,000. It has a 10 year life. What is its depreciation expense if the company uses straight-line depreciation? Group of answer choices $200,000 $160,000 $20,000 $16,000arrow_forwardA photocopier bought at 5000 dollars was put to use as follows: First year 3000 hours Second year 4500 hours Third year 3900 hours. The trade in value of the photocopier is 1000 and it has a useful life that is estimated up yo 40000 hours. You are to calculate the depreciation at the end of the 3years and completing the book value and the remaining useful value of that periodarrow_forward
- Acquisition of a new machine cost #680,000. Delivery, installation, and other expenses cost 15% of the purchasing cost. The machine has a useful life of 15 years with a scrap value of P85,000. Using the SYD method, what is the book value of the machine after 13 years? A P127,056.50 B P102,425.00 C P144,026.90 D P115,500.10arrow_forwardA computer with a life of 13 years has the following cost and interest rate. What is the EUAC of the computer? initial cost $5500 salvage value annual maintenance $3100 years 1-8 years 9-13 interest rate $275 $425 6% Correct Answer: $780 Your Answer: n/aarrow_forwardPLEASE SOLVE THIS TWO PROBLEMS ASAP. THANK YOU! A. A machine costs P388868 with a salvage value of P18029 is expected to last for 28537 hours in 5 years. In the first year of service it was used for 8077 hours. Compute the book value at the end of the first year. B.The cost of a certain asset is P486042 , its life is 5 years and scrap value is P9050 . Find the cost of depreciation after the first year using a constant percentage method.arrow_forward
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