A diesel-powered tractor with a cost of $176,460 and an estimated residual value of $8,200 is expected to have a useful operating life of 47,000 hours. During April, the tractor was operated for 100 hours. Determine the depreciation for the month.
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Determine the depreciation for the month?
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- A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.A diesel-powered tractor with a cost of $346,980 and estimated residual value of $7,900 is expected to have a useful operating life of 98,000 hours. During April, the tractor was operated 200 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places.A diesel-powered tractor with a cost of $111,800 and an estimated residual value of $8,400 is expected to have a useful operating life of 55,000 hours. During April, the tractor was operated 100 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places.fill in the blank 1 of 1$
- A machine costing $75,520 with a 6-year life and $72,359 depreciable cost was purchased January 1. Compute the yearly depreciation expense using straight-line depreciation. Round your answer to the nearest whole dollar.Given the following cost information about a fixed asset, calculate depreciation expense for its second year of operation assuming a) straight-line depreciation, b) double-declining balance, and c) units of production. The cost of a truck purchased on January 1 is $30,000. It has a useful life of 5 years or 75,000 miles. At the time of the purchase of the asset, it had an estimated salvage value of $3,000 at the end of its useful life. It is driven 7,500 miles in its first year of operation and 16,750 miles in its second year of operation. Show the presentation of the fixed assets section of the balance sheet at the end of the second year for each of the above situations (i.e., straight-line depreciation, double-declining balance, and units of production). How much is the book value of this asset at the end of that second year under each of those depreciation methods? Solution: Asset book value Straight line Double-declining balance Units of production…Given the following cost information about a fixed asset, calculate depreciation expense for its second year of operation assuming a) straight-line depreciation, b) double-declining balance, and c) units of production. The cost of a truck purchased on January 1 is $30,000. It has a useful life of 5 years or 75,000 miles. At the time of the purchase of the asset, it had an estimated salvage value of $3,000 at the end of its useful life. It is driven 7,500 miles in its first year of operation and 16,750 miles in its second year of operation.. Show the presentation of the fixed assets section of the balance sheet at the end of the second year for each of the above situations (i.e., straight-line depreciation, double-declining balance, and units of production). How much is the book value of this asset at the end of that second year under each of those depreciation methods? Edit View Incert Format Tools Table
- A delivery van costing $35,000 is expected to have a $2,000 salvage value at the end of its useful life of five years. Assume that the truck was purchased on January 1. Compute the annual depreciation expense under the straight‑line depreciation method. (Round your answer to the nearest whole number.)Copy equipment was acquired at the beginning of the year at a cost of $25,200 that has an estimated residual value of $2,300 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 1,145,000 copies. This year, 246,000 copies were made. a. Determine the depreciable cost. b. Determine the depreciation rate. Round your answer to two decimal places. per copy c. Determine the units-of-activity depreciation for the year. LA ?Prepare a depreciation schedule for the following machine: the machine cost $43,000; it has an estimated residual value of $5,300 and expected life of 280,000 units. The units produced were: Year Units Depreciation Book value at the end of each year Year 1 95,000 units Year 2 80,000 units Year 3 50,000 units Year 4 35,500 units Year 5 30,000 units I need help working these problems out. Explain in detail please.
- A machine costing $75,232 with a 4-year life and $70,431 depreciable cost was purchased January 1. Compute the yearly depreciation expense using straight-line depreciation. Round your answer to the nearest whole dollar. $ ______ per yearA machine with a cost of $120,000 has an estimated residual value of $15,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-output method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours?A machine with a cost of $120,000 has an estimated residual value of $15,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours?