O ZAIN IQ liı.depreciation ( quze.pdfتمThe original cost of a property is $ 35000. Its salvage value is to be $3500 at the end service life isestimated to be 8 vear. Determine the asset value of a property at the end of scound year using.1- Sum – of the year – digits method.2- Double declining balance method.

Name: O ZAIN IQ liı.depreciation ( quze.pdfتمThe original cost of a propert
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Description: O ZAIN IQ liı.depreciation ( quze.pdfتمThe original cost of a property is $ 35000. Its salvage value is to be $3500 at the end service life isestimated to be 8 vear. Determine the asset value of a property at the end of scound year using.1- Sum – of

Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Business

Accounting

The original cost of a property is $ 35000. Its salvage value is to be $3500 at the end service life is estimated to be 8 year. Determine the asset value of a property at the end of scound year using. 1- Sum – of the year - digits method. 2- Double declining balance method.

The original cost of a property is $ 35000. Its salvage value is to be $3500 at the end service life is estimated to be 8 year. Determine the asset value of a property at the end of scound year using. 1- Sum – of the year - digits method. 2- Double declining balance method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculate the Annual Depreciation for each listed asset. Assume the assets were purchased on January 1st and used for 12 months. The first asset has been completed. Utilize the straight-line depreciation method: (Original cost - Estimated Salvage Value) / Estimated Useful Life = Annual Depreciation Plant Asset Cash register Computer Vehicle Machinery Desk Asset Original Cost 500.00 4,500.00 15,500.00 8,000.00 2,500.00 Calculate the amount to be depreciated: Annual Depreciation Cash register Computer Vehicle Machinery Desk Estimated Salvage Value 25.00 800.00 3,000.00 1,200.00 200.00 67.86 Estimated Useful Life 7 years 5 years 10 years 5 years 15 years Questions? Contact your instructor!
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