1. A set of office equipment costs $100,000 and has a useful life of 6 years. Its estimated market value at the end of the 6th year is $5,000. Determine the depreciation amount on the 4th year and the book value at the end of the 3rd year using: a. Straight Line Method b. Double Declining Balance Method c. Sum- of - Years Digits Method d. Declining Balance Method with Switchover to SL e. MACRS GDS (assume that the assets will be disposed of on the 3rd year) f. MACRS ADS

1. A set of office equipment costs $100,000 and has a useful life of 6 years. Its estimated market value at the end of the 6th year is $5,000. Determine the depreciation amount on the 4th year and the book value at the end of the 3rd year using: a. Straight Line Method b. Double Declining Balance Method c. Sum- of - Years Digits Method d. Declining Balance Method with Switchover to SL e. MACRS GDS (assume that the assets will be disposed of on the 3rd year) f. MACRS ADS

Name: 1. A set of office equipment costs $100,000 and has a useful life of
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Description: 1. A set of office equipment costs $100,000 and has a useful life of 6 years. Its estimatedmarket value at the end of the 6th year is $5,000. Determine the depreciation amount on the4th year and the book value at the end of the 3rd year using: a. St

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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Q1) A piece of machinery costs $5,000 and its useful life is five year. Compute the schedule of depreciation and book value at the end of each year for the machinery by: 1. The Sum of Years Digits method if you know that the depreciation value for the first year is $1333. 2. The Straight Line method if you know that the depreciation value for the first year is $760.
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The cost of an asset is $1,170,000, and its residual value is $110,000. Estimated useful life of the asset is eight years. Calculate depreciation for the first year using the double-declining - balance method of depreciation. OA. $265,000 OB. $132,500 OC. $146,250 OD. $292,500 ***
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The formula for double-declining-balance depreciation on an asset with a five-year life in its second year is Book Value × 40% = Depreciation Expense. (Book Value – Residual Value) × 40% = Depreciation Expense. (Book Value – Residual Value) × 20% = Depreciation Expense. (Original Cost × 30%) – Residual Value = Depreciation Expense.
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An asset has a first cost of Rs. 48,000 with an estimated life of 20 years. What is the total accumulated depreciation charge during the first 5 years of the asset life if it is depreciated according to DDB Method?
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What is the depreciation of equipment purchased at 10 years ago for $79,040 if it is depreciated using the sum of the year's digits (SOYD) method? The expected life is 15 year. help me pls. Ill upvote