You purchased a computer for your business at a cost of $1,200. The computer has a useful life of 4 years. Calculate the annual depreciation expense using straight-line depreciation.
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You purchased a computer for your business at a cost of $1,200. The computer has a useful life of 4 years. Calculate the annual
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- You have just bought a new pusher dozer for your equipment fleet. Its cost is $100,000. It has salvage value of $12,000 at the end of its service life. a) Calculate the depreciation using the straight-line method. Show the table with the book value and the depreciation for each year. b) Calculate the depreciation using the DDB method. Show the table with the book value and the depreciation for each year. c) The new pusher dozers $35,000/year for your company during its service life. Determine the tax amount owed at the end of each year if your marginal tax rate is 25% for the income made using this new equipment. Perform this tax calculation separately, once using straight-line depreciation and then using DDB depreciation. d) Based on your calculations for part (c), which depreciation method would you use to file the taxes.You have bought an asset which costs $15,000. You depreciate it using the Straight Line Depreciation method. If salvage value for the asset is $3,000, and the asset’s useful life is 3 years, what is the annual depreciation?A player computer has a cost of $3,850 with a residual of $800 and an estimated useful life of 5 years.Calculate the annual depreciation using the straight-line depreciation method.Make journal entries.
- A small buisness purchases the laptop computer shown. It will be depreciated over a 4 year period, when its salvage value will be 300. Find a depreciation equation in terms of x years of use.Your business buys a copy machine for $8,000 on January 1. You estimate that the copy machine will produce 350,000 copies during its useful life; its salvage value after producing the 350,000 copies is projected to be $1,000. The copy machine produced 75,200 copies in year 1 and 68,300 copies in year 2. Calculate depreciation for each of the first two years using the units-of-production method.Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of S6,000 and is expected to be driven for ten years. Montello uses the straight-line depreciation method. Calculate the annual depreciation expense.
- an engineer bought a piece of equipment for 500000. he spent amount of 20000 for installation and other expenses. the salvage value is 10% of the initial first cost wit a life for 12 years. determine the total depreciation after 5 years using the straight line methodA new set of computers cost your company $25,000. Compute the accumulated depreciation through Year 3 using 60% bonus depreciation and MACRS. Assume a 5-year property class.Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montello uses the straight-line depreciation method. A. Calculate the annual depreciation expense._______________ B. What is the year one book value? ___________________ Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for 120,000 miles. Montello uses the units-of-production depreciation method and in year one it expects to use the truck for 13,000 miles. C. Calculate the year one depreciation expense. ___________________ D. What is the year one book value? __________________ Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montello uses the double-declining-balance depreciation method. E. Calculate the year one depreciation expense. __________________ F. What is the year one book…
- Mount Vernon Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Mount Vernon uses the straight- line depreciation method. Calculate the annual depreciation expense.Please watch the "Depreciation Expense Videos" and use it as a guidance to Find the depreciation expense for the following long term assets. Once you finish, please take a picture of your notes. 01/10/22 - Bought Mac Book Air ($1,548) at Best Buy (4 years Residual value: $250) 02/15/22 - Bought Microsoft Surface ($1,345) at Office Depot (4years Residual value: $220) . 02/20/22 - Bought Flat Bed ($7,985) from Mr. Diaz. Paid 30% Down Payment (7 years Residual Value: $2220) • 02/28/22 - Bought Anti-Virus for 3 years ($1,600) (NO RESIDUAL)If a computer is bought by a company for $1000 and is depreciated using the 3-year GDS recovery period, what is its remaining book value after 2 years of depreciation?