A piece of machinery has an initial cost of P35,000 and estimated salvage value of P5,000 at the end of 8 years. What is its book value at the end of 5 years using declining balance method? A. 8,960 B. 9,065 C. 9,275 D. 9,480
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- A certain office equipment has a first cost of P 20,000 and a salvage value of P 1,000 at the end of 10 years. Determine its book value at the end of 6 years using declining balance method. 8,600.00 3,311.00 1,657.38 9,280.00 11,400.00 1,000.00An equipment costing P1.8M has a salvage value of P300,000 after 5 years. Calculate the depreciation value (book value) at the end of 3 years using the straight-line method. A. P860,000 B. P750,000 C. P900,000 D. P700,000A certain office equipment has a first cost of P 20,000 and a salvage value of P 1,000 at the end of 10 years. Determine its book value at the end of 6 years using Straight-line Method. 8,600.00 3,311.00 1,657.38 9,280.00 11,400.00 1,000.00
- Ane barcode reading device has an instated cost basis of $21,760 and an estimated service life of seven years it will have a zero salvage valun at that time. The 150% deckning balance method is used to depreciate this asset a. What will the depreciation charge be in yearseven? b. What is the book value at the end of years? e What is the gain (or loss) on the disposal of the device if it is sold for $900 after six years? a. The depreciation charge in year soven will be $(Round to the nearest dollar) CETTEAn earth moving equipment has a first cost of P 25,000, estimated life of 6 years, with no salvage value. What is the total depreciation after 4 years using Sinking Fund Method at 4%?The book value at the end of the year?
- A machine costs PhP 7 654 + 32 x (01), lasts 8 years and has a salvage value at the end of PhP 345. Determine the follwoing: a. Depreciation charge during the 6th year using sum of years digit methodb. book value at the end of the 6th year using declining balance methodKindly provide a COMPLETE and CLEAR solutions.If an asset is book depreciated by the DDB (Double Declining Balance) method over a 5-year period, how long will it take to reach its salvage value if the estimated salvage is 17% of the first cost? The time taken to reach the estimated salvage value is years. 5:30 es9.9 Consider the following data on an asset: Cost of the asset, / Useful life, N Salvage value, S $123,000 7 years $13,000 Compute the annual depreciation allowances and the resulting book values, initially using the DDB and then switching to SL.
- Need answer please60. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. How much is the depreciation expense for the year?A. P101,600B. P100,600C. P106,100D. P100,100 61. Equipment costing P588,000 has a useful life of five years with an P80,000 salvage value at the end of five years. What is the adjusting entry?A. Debit: Depreciation Expense and Credit: Accumulated Depreciation-EquipmentP101,600B. Debit: Depreciation Expense and Credit: Accumulated Depreciation-EquipmentP100,600C. Debit: Depreciation Expense and Credit: Accumulated Depreciation-EquipmentP106,100D. Debit: Depreciation Expense and Credit: Accumulated Depreciation-EquipmentP101,100 62. Received P18,000 cash advance for a contract to provide services in the future. The contract required a 1-year commitment, starting April 1 of the current year. How much is the balance of the unearned contract revenue ending December 31 of the current year?A. P4,500B. P13,500C. P18,000D.…An asset has the estimated salvage values for various lives, shown in the table below. For each possible life from 1 to 6 by 1, determine the capital recovery cost for MARR of 8%/year. EOY 0 1 2 3 4 5 6 NCF -$150,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 Estimated SV $150,000 $130,000 $110,000 $100,000 $90,000 $85,000 $82,000 Capital recovery cost with 1-year life $ Capital recovery cost with 2 years life $ Capital recovery cost with 3 years life $ Capital recovery cost with 4 years life $ Capital recovery cost with 5 years life $ Capital recovery cost with 6 years life $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is ±50.
