A forklift had a purchase price of $10,000, delivery costs of $2,000, a physical life of 6 years, and a useful life of 4 years. Estimated residual value is zero. The annual depreciation charge using the straight-line method is: A. $2,500 B. $1,667 C. $3,000 D. $2,000
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- Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for 125,000 miles. Montello uses the units-of-production depreciation method, and in year one it expects to use the truck for 26,000 miles. Calculate the annual depreciation expense.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.Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for ten years. Montello uses the straight-line depreciation method. Calculate the annual depreciation expense.
- 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. Calculate the annual depreciation expense.The cost basis is $81,000. The useful life is five years with no salvage value. Please provide a depreciation schedule (d, for k = 1- 5) for 200% declining balance with switchover to straight line. Please specify the year to switchover. Determine the depreciation amounts using the 200% declining balance and straight-line methods and BV amounts for each year. (Round to the nearest dollar.) Depreciation SL Method, $ Amount Selected, 200% DB Year BVK Method, $ 1 3 4 Switchover occurs in year LOThe machine bought at a price of Php 480,000 has an economic life of 5 years and a salvage value of Php 50, 000. The cost of money is 12% per year. Compute the annual rate of depreciation using Declining Balance Method in %. A. 39.36% B. 36.39% C. 36.93% D. 39.63%
- The cost of an asset is $1,050,000, and its residual value is $280,000. Estimated useful life of the asset is eight years. Calculate depreciation for the second year using the double - declining – balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) A. $196,875 B. $131,250 C. $192,500 D. $96,250The cost of an asset is $1,090,000, and its residual value is $240,000. Estimated useful life of the asset is eighteight years. Calculate depreciation for the first year using the doubleminus−decliningminus−balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) A. $106,250 B. $272,500 C. $136,250 D. $ 212,500An equipment costing P250, 000 has an estimated life of 15 years with a salvage value of P30, 000 at the end of the per i od. Compute the depreciation charge and its book value after 10 years using declining balance method.
- A utility vehicle purchased by Knox industries should last 110,000 miles .  the accusation cost was 21,200 and the salvage value is 1,913. Using the units of production depreciation method given the annual usage information calculate the accumulated depreciation at the end of year to round your depreciation per unit to three decimal places run your answer to the nearest cent.  year one 22,029.  Your two 22,724.  Year 3 23,420. year 4 23,188.  Answer key A.3,976.70 B.4,098.50 C.7,831.78 D.13,368.23 An equipment costs Php 10,000 with a salvage value of Php 500 at the end of 10 years. Calculate the total depreciation charge and book value at the end of 7 years using:A machine with a cost of $50,000 has an estimated residual value of $3,743 and an estimated life of 5 years or 18,397 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method? a.$12,000.00 b.$20,000.00 c.$10,000.00 d.$18,502.80
