An industrial plant bought a generator set for P120, 000. Other expenses including installation amounted to P10, 000. The generator is set to have a life of 15 years with a salvage value at the end of life of P8, 000. What is the depreciation charge during the 12th year by double declining balance method? pls show manual solution and correct answer a. P2,620 b. P3,916 c. P3, 591 d. P 1,943

Q: M 2: A certain organization deciaed to acquire a skte of the art production equipment that will cost…

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Q: Construct a depreciation schedule for the following problems 3.) Duncan bakery purchased a new…

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Q: An equipment worth Php 350000 has an anticipated salvage value of Php (15000x8) at the end of its…

A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/5 years) x 2 = 40%

Q: A plant asset cost $2,8800 year useful life. The annual depreciation expense recorded for the third…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: A telephone company purchased a Communications Trainer worth P 250,000. Freight and insurance…

A: Depreciation :— It is decrease in the value of asset due to continuos use of asset.   Declining…

Q: The cost of the building is OMR 20,000. The salvage value OMR 2,000. Estimated useful life of the…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: An industrial plant bought a generator set for P98,591.00. Other expenses including installation…

A: Depreciation expense is the non-cash expense which is reported in the income statement. It is…

Q: The cost of an asset is $1,050,000, and its residual value is $280,000. Estimated useful life of the…

A: Formula: Depreciation rate = ( 100 / Useful life ) x 2

Q: Lloyd Company purchased a depreciable asset for P1,360,000. The estimated salvage value is P360,000,…

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

Q: usefur me or 3 years Tpany ace reflects a salvage value that is 20% of cost. What is the…

A: The calculation of depreciation expense in year 2 under 150 declining balance method is shown…

Q: 1. A telephone company purchased a microwave radio equipment for 6MPhp. Freight and installation…

A: Given: Telephone Radio Equipment = 6M = Php 6,000,000 Freight = 3% * 6000,000 = Php 180,000 Salvage…

Q: An equipment cost P67,000 and has a life of 10 years and salvage value of P53,500. Determine its…

A: Depreciation means the amount fixed assets written off due to normal wear and tear , normal usage…

Q: Equipment was purchased for RM157,000 and there was a cost of RM20,000 for building a foundation and…

A: It's simplest method of charging depreciation on an asset. Depreciation is charged on cost of asset.…

Q: An engineer bought an equipment for P 548,440. Other expenses including installations amounted to P…

A: Total cost of equipment = Purchase price  + other expenses including installations = P548,440 +…

Q: Lacey Company purchased a depreciable asset for $440,000. The estimated salvage value is $20,000,…

A: Depreciation is the decrease in value of assets due to its obsolete condition ,wear and tear…

Q: A telephone company purchased a microwave radio equipment for P5,000,000. Freight and installation…

A: Installation charges = P5,000,000*2% Installation charges = P100,000

Q: A firm bought a machine for P56, 000. Other expenses including installation amounted to P4, 000. The…

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Q: A machine with a cost of $67,400 has an estimated residual value of $4,408 and an estimated life of…

A: Double Declining balance method is a form of an accelerated depreciation method in which the asset…

Q: A new barcode reading device has an installed cost basis of $21,490 and an estimated service life of…

A: The calculation of depreciation expense for the year eight, book value at the end of year seven and…

Q: A MACHINE COSTS P 7,000,000.00 LAST 4 YEARS AND HAS A SALVAGE VALUE OF P 350,000. USE DELINING…

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Q: 0,000 per year. Wh

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Q: The cost of an asset is $1.200,000, and its residual value is $180,000. Essmated usetul ife of the…

A: Formula: Depreciation rate = ( 100 / Useful life years ) x 2

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Q: A plant asset cost P96,000 and is estimated to have a P12,000 salvage value at the end of its 8-year…

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A: A double-declining balance method is an accelerated depreciation method Using this method, the value…

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A: Straight-Line Depreciation Expense=Cost of Asset-Salvage ValueUseful Life Double-Declining…

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A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life…

Q: The UST-ECE Department purchased a Communications Trainer worth P 250,000. Freight and insurance…

A: DEPRECIATION Depreciation means Gradual Decrease in the value of an Assets due to normal wear and…

Q: A machine was purchased for $72,000, has a 10-year useful life, and a $4,000 salvage value. What is…

A: DEPRECIATION EXPENSEDepreciation means gradual decrease in the value of an asset due to normal wear…

Q: An industrial plant bought a generator set for P 90,000. Other expenses including installation…

A: Double declining is fast accelerated method of depreciation in which there is more depreciation in…

Q: On 1 July 20X7 Brown Ltd bought a machine for GHS 48,000. The machine was depreciated at 25% per…

A: Depreciation is an estimate by the company as to what value of assets is being used each year. This…

Q: Determine the depreciation charge during the 13th year and the book value at the end of 13 years by…

A: Formula:

Q: A printing equipment cost P500,000 and the cost of handling and installing is P30,000. The life of…

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Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.