ABC company purchased an equipment for P54.000 on 1980. Installation cost amounting to P6,000. The equipment are expected to have a useful life at the end of 1996 with a salvage value of 10% of the original cost. Determine the book value at the end of 1992 by;

Q: The book value of an asset that is listed as a 10-year MACRS property is $49,500 after the first…

A: Cost basis: It can be defined as the original or actual value of an asset measured for the purpose…

Q: Equipment was acquired at the beginning of the year at a cost of $562,500. The equipment was…

A: Straight-Line Method: This technique of calculating depreciation and amortization, which is the…

Q: TB MC Qu. 08-176 Martin Company purchases a machine a... Martin Company purchases a machine at the…

A: Determine double declining depreciation rate

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A: The Depreciation expense is charged on fixed assets as reduction in the value of the fixed assets…

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A: Compute the depreciation.

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A: Lets discuss basics. Depreciation is a reduction in value of asset due to wear and tear,…

Q: Machinery purchased for RO 100,000 with an estimated useful life of 10 years. The expected salvage…

A: Given, Cost of machinery              = $ 100,000 estimated useful life           = 10 years salvage…

Q: Question. Original cost of a machine was Rs. 2,52,000; Salvage value was 12,000. Useful Life was 6…

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A: Depreciation is allowed as an expense for cost of machine during the life of machine.  Straight line…

Q: Determine the book value at the end of 1992 by: •Straight-line method: a P 19,000 b. P 19,500 c. P…

A: Calculation of book value at the end of 1992 under straight line method: Price of equipment    =…

Q: TB MC Qu. 08-173 (Static) Martin Company purchases a machine... Martin Company purchases a machine…

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Q: Required information Use the following information for the Exercises below. (Algo) [The following…

A: The depreciation expense is charged on the fixed assets as reduction in the value of the fixed…

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A: Lets understand the basics.Depreciation is a reduction in value of asset due to wear and tear,…

Q: TB MC Qu. 08-117 An asset's book value... An asset's book value is $18,000 on December 31, Year 5.…

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Q: Equipment

A:

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A: >Accounting principle states that the cost of the long term assets (like equipment) is to be…

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Q: depreciation expense for the second year of its useful life using the double - declining

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A: Depreciation is the amount which is to be reduced from value of assets to recognise the normal…

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A: Fair value less costs to sell = Fair value of the asset at 12/31/Y1 = $7.5 million Value in use =…

Q: on, the

A: Given: Company purchases for 550,000 salvage value of $50,000

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Q: - A piece of equipment is available for purchase for ($44250), has an estimated useful life of (8…

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A: Lets understand the basics. Salvage value is value expected to be derived from the sale of machinery…

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Q: A firm purchased an asset with a 5-year life for $80,000, andit cost $5,000 for shipping and $10,000…

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Q: The following information is available on a depreciable asset: Purchase date January 1, Year 1…

A: The Depreciation expense is charged on fixed assets as reduction in the value of the fixed assets…