Straight-Line Depreciation A refrigerator used by a restaurant has a cost of $69,890, an estimated residual value of $7,490, and an estimated useful life of 20 years. What is the amount of the annual depreciation computed by the straight-line method?
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- Which of the following is not true about the MACRS depreciation system: A salvage value must be determined before depreciation percentages are applied to depreciable real estate. Residential rental buildings are depreciated over 27.5 years straight-line. Commercial real estate buildings are depreciated over 39 years straight-line. No matter when during the month depreciable real estate is purchased, it is considered to have been placed in service at mid-month for MACRS depreciation purposes.A refrigerator used by a warehouse has a cost of $66,700, an estimated residual value of $5,100, and an estimated useful life of 14 years. What is the amount of the annual depreciation computed by the straight-line method?A refrigerator used by a wholesale warehouse has a cost of $82,000, an estimated residual value of $6,200, and an estimated useful life of 8 years. What is the amount of the annual deprecdiation computed by the straight-line method? %24
- What is the amount of depreciation, using the double decaying balance method for the second year of use for equipment costing $9000 with an estimated residual value of $600 an estimated life of three years?A refrigerator used by a wholesale warehouse has a cost of $99,800, an estimated residual value of $5,300, and an estimated useful life of 10 years. What is the amount of the annual depreciation computed by the straight-line method?fill in the blank 1 of 1$A storage tank acquired at the beginning of the fiscal year at a cost of $95,000 has an estimated residual value of $5,000 and an estimated useful life of 25 years. a. Determine the amount of annual depreciation by the straight-line method.$ b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar. Depreciation Year 1 $ Year 2 $
- Calculate depreciation in the following case La Rosa del Monte has a moving truck that performs large removals in the Miami area and at the end of the year has a balance of $88,250 with a cumulative depreciation of $12,230. It also has a small truck that it uses in the Orlando area for $43,760 with a cumulative depreciation of $7,120. Determine what the depreciation is for each truck using the depreciation by units of activity method. Truck Cost Estimated residual value Estimated service lifetime Accumulated depreciation at the beginning of the year Miles used in the year Large truck $88,250 $17,000 230,000 millas $12,230 32,000 Small truck 43,760 6,500 280,000 millas 7,120 27,300a storage tank acquired at the beginning of the fiscal year at a cost of 75,600 has an estimated residual value of 4000 and a estimated useful life of 20 years. a. determine the amount of annual depreciation by the straight line method b. determine the amount of depreciation for the first and second years computed by the double declining balance method . do not round the double declining balance rate. if required round answer to the nearest dollarRevision of Depreciation A building with a cost of $168,750 has an estimated residual value of $33,750, has an estimated useful life of 9 years, and is depreciated by the straight-line method. a. What is the amount of the annual depreciation?
- Equipment with a cost of $148,767.00 has an estimated residual value of $8,167.00 and an estimated life of 7 years or 14,290 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,563 hours? Select the correct answer. $35,056.53 $20,085.71 $39.46 $7.00A building with a cost of $170,000 has an estimated residual value of $32,000, has an estimated useful life of 9 years, and is depreciated by the straight-line method. What is the amount of the annual depreciation?A building with a cost of $900,000 has an estimated residual value of $360,000, has an estimated useful life of 36 years, and is depreciated by the straight-line method. a. What is the amount of the annual depreciation? Do not round intermediate calculations.