Bautista Organizers purchased an equipment costing P50,000 on July 1, 2018. The equipment has an estimated useful life of 10 years with an estimated salvage value of P5,000. The balance of the accumulated depreciation account on December 31, 2019 is Choices: P7,500 P5,000 P4,500 P6,750

Q: Gandolfi Construction Co. purchased a CAT 336DL earth mover at a cost of $445.000 in January 2019.…

A: Straight-line deprecation is a method that is used in calculating the deprecation expenses on assets…

Q: The Fisher Company purchased a machine on October 1, 2018, for $18,000. At the time of acquisition,…

A: Depreciable cost=Cost-Salvage value=$18,000-$5,000=$13,000

Q: PIKACHU purchased an equipment for 540,000 on January 1, 2020. The equipment has an estimated…

A: The calculation of depreciable cost has been made as follows: Depreciable cost=Purchase…

Q: BTL Company purchased a tractor at a cost of $90,000.  The tractor has an estimated salvage value of…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: Grumpy Inc purchased a machine on January 1, 2021, at a cost of $120,000. The machine was originally…

A: Depreciation is the reduction in the value of an asset due to normal wear and tear, passage of time,…

Q: Bataan Company purchased a machinery that was installed and ready for use on January 1, 2019 at a…

A: Depreciation is an expense which is recorded in the income statement of the firm. There are various…

Q: Crane Company purchased a depreciable asset for $680000 on April 1, 2018. The estimated salvage…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: Ortiz purchased a piece of equipment that cost $202,000 on January 1, 2020. The equipment has the…

A: Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income…

Q: Equipment was acquired on January 1, 2019 at a cost of $170,000. The equipment was originally…

A: The question is based on the concept of Depreciation Accounting.Depreciation is the reduction in…

Q: On January 1, 2019, Williams Company purchased a copy machine. The machine costs $160,000, its…

A: Depreciation Expenses - Depreciation Expenses are the expense incurred on the wear and tear of the…

Q: PIKACHU purchased an equipment for P540,000 on January 1. 2020. The equipment has an estimated…

A: Fixed assets means the asset which is used by company for many years to come for the purpose of…

Q: The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with…

A: Depreciation is used to denote a decrease in the value of fixed assets. Depreciation is the…

Q: King Company purchased a machine on July 1, 2018 for P600,000. The machine has an estimated useful…

A: Depreciation means the fall in value of assets because of wear and tear , usage , passage of time or…

Q: Lemon Company bought a machine on January 1, 2019.  The machine cost $72,000 and had an expected…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: Paint Pro purchased a spray painter on August 1, 2025 for $8,400 and estimated the salvage value at…

A: Under the double declining balance method, depreciation expense does not consider the salvage value.…

Q: Crane Company purchased a machine on July 1. 2020, for $900000. The machine has an estimated useful…

A: The declining balance method is a method of charging the depreciation in which the higher amount of…

Q: Freedom Co. purchased a new machine on July 2, 2019, at a total installed cost of $48,000. The…

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

Q: Bonita Industries purchased a depreciable asset for $591000 on April 1, 2018. The estimated salvage…

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

Q: Speedbag, Incorporated purchased equipment at a cost of $60,000 on July 1, 2023. The expected useful…

A: Depreciation expense :— It is the allocation of depreciable cost of an asset over the estimated…

Q: The Harry Corporation purchased a machine on January 1, 2020. The machine cost 46,000, with an…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: he 150% declining-balance method. For the year ended December 31, 2020, Sheridan should record…

A: The declining balance method is a method of charging the depreciation in which the higher amount of…

Q: Sami Products purchased a machine for $85,000 on July 1, 2020. The company intends to depreciate it…

A: Double declining balance method is a method of depreciation under which depreciation is charged as…

Q: On January 1, 2020, Coronado Industries purchased a new machine for $4290000. The new machine has an…

A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

Q: What is the total accumulated depreciation on December 31, 2020?

A: Formula: Depreciation Expenses= Remaining Life of assetSum of Year's Digits×Depreciable Cost

Q: Watts Company purchased equipment in 2013 for $90,0ó0 and estimated a $6,000 salvage value at the…

A: Annual Depreciation as per straight line method is computed by the following formula: Depreciation…

Q: he Vermont Construction Company purchased a hauling truck on January 1 of 2019, at a cost of…

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

Q: PIKACHU purchased an equipment for P540,000 on January 1, 2020. The equipment has an estimated…

A: Sum of year digit method is a depreciation method where the depreciation for the year is calculated…

Q: A Company purchased equipment on January 1, 2019 for AED 70,000. It is estimated that the equipment…

A: Depreciation is an expense for consuming the fixed assets of the entity. The depreciation method…

Q: the depreciation expense for 2021 will be

A: Double declining balance method is one of the accelerated methods used for the calculation of the…

Q: Equipment was purchased at the beginning of 2019 for $820000. At the time of its purchase, the…

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

Q: On January 1, 2021, Truesdale, Incorporated, purchased a piece of machinery for use in operations.…

A: Straight line depriciation method is a depriciation method in which each year same depreciation is…