A filing cabinet valued at 4,750 depreciates to 410 after useful life of 9 years. Find the 5thyear depreciation (Sum of years digits method)O A. 771.56О в. 675.11О с. 578.67D. 482.22

Depreciation expense: Depreciation expense is the reduction in a particular asset due to its use or…

Answered: A filing cabinet valued at 4,750…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Only Ex 9-19 please and thank you!
Qq.60. Subject :- account
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
Equipment was acquired at the beginning of the year at a cost of $79,680. The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,980. Required: a. What was the depreciation expense for the first year? b. Assuming the equipment was sold at the end of the second year for $60,242, determine the gain or loss on sale of the equipment. C. Journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles.
12 )
A company purchased a point-of-sale self-service cash register on January 1 for £5,400. This register has a useful life of 10 years and a salvage value of £400. What would be the depreciation expense for the second year of its useful life, using the double-declining-balance method? A) 1080 B) 864 C) 800 D) 500
A company purchased facrory equipment on August 1,2on, for R0 Boo.000 It is estimated that the EQUIDH will have a RO 50.000 residual value at the end of its 10-year useful life Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31. 2on, is Select one a RO43.750 O BRO37.500 CRO75,000 d RO31.250
4
A. Br1,600 B. Br2,000 C. Br5.600 D. Br14,400 6. On July 1. 20X1, Clem Company purchased lactory equipment for br50,000, Residual value was estimated to be br2.000. The equipment will be depreciated over ten years using the sum-of- the-years'-digits depreciation method. Clem has a December 31 year-end, and during 20X1, one- half of a year's depreciation expense was recorded. How much depreciation expense should be recorded for 20X2? (round computations to the pearest dollar) A. Br7,855 do00 B. Br8,291 C. Br8,636 D, Br8,727 7. Which of the following expenditures incurred in connection with the acquisition of equipment is not a proper charge to the asset account? A) Freight or transportation costs. B) Cost of test runs to ready the machine for operation C) Taxes and tariffs D) Cost of vandalism E) B and D 8. If the Double-declining depreciations rate of a plant asset is 50%, then its estimated life will be: A. 50 years. B) 10 years C) 5 years D) 4 years E) None of the above Part II:…
Your staff person has provided you with the following journal entry for January 20x1 depreciation. The monthly deprecation is supposed to be $100.00. What is wrong with this entry?
am. 116.
3.A machine with a cost of? S20,000, a salvage value of? S8,000 and expected life of 15 years was purchased on September 1. For a calendar year?company, the journal entry to record depreciation expense for the first year would be? to: А. debit Depreciation? Expense, $200; credit Accumulated? Depreciation, $200. В. debit Depreciation? Expense, S67; credit Accumulated? Depreciation, $67. C. debit Depreciation? Expense, S267; credit Accumulated? Depreciation, $267. D. debit Depreciation? Expense, S333; credit Accumulated? Depreciation, S333.

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A filing cabinet valued at 4,750 depreciates to 410 after useful life of 9 years. Find the 5th year depreciation (Sum of years digits method) O A. 771.56 О в. 675.11 О с. 578.67 D. 482.22