Q1/The cost of a vehicle at the time of purchasing is(80,000)$, its expected useful life is (10) years , theselvage value is (10,000) $, determine the following-the depreciation value at the end of ( 9th )year using declinebalance method.-the book value at the end of (6th) year using straight linemethod.-total depreciation for (7) years using sum of years digitsmethod.-the book value at the end of (4th ) year using sum of yeardigits method.-If the vehicle sold after (5) years with 40,000 $, was it soldwith profit? Use decline balance method.-depreciation at the end of (5th) year using straight linemethod.

Explanation - 1. Depreciation Expenses - This is an expense booked on the income statement debit…

Answered: ,000)$, its e: vage value is

Business

Accounting

,000)$, its e: vage value is

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 6MC: At the end of the expected useful life of a depreciable asset with an estimated 15% residual value,...

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Question

Q1/The cost of a vehicle at the time of purchasing is
(80,000)$, its expected useful life is (10) years , the
selvage value is (10,000) $, determine the following
-the depreciation value at the end of ( 9th )year using decline
balance method.
-the book value at the end of (6th) year using straight line
method.
-total depreciation for (7) years using sum of years digits
method.
-the book value at the end of (4th ) year using sum of year
digits method.
-If the vehicle sold after (5) years with 40,000 $, was it sold
with profit? Use decline balance method.
-depreciation at the end of (5th) year using straight line
method.

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At the end of the expected useful life of a depreciable asset with an estimated 15% residual value, the accumulated depreciation would equal the original cost of the asset under which of the following depreciation methods?
Q1/The cost of a vehicle at the time of purchasing is (80,000)$, its expected useful life is (10) years , the selvage value is (10,000) $, determine the following the depreciation value at the ond of (gnycar using decline balance method -the book value at the end of (0") year using straight line methed tetal depreciation for (7) years using sum ofyears digits method -the book value at the end of (4th ) year using sum of year digits method. -If the vehicle sold after (5) years with 40,000 $, was it sold with profit? Use decline balance method. -depreciation at the end of (5th year using straight line method.
Please solve by hand calculation
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