Baxter Co purchased an asset for $100,000 on 1.1.X1. It had an estimated useful life of 5 years and it was depreciated using the straight line method. On 1.1.X3 Baxter Co revised the remaining estimated useful life to 8 years. What is the carrying amount of the asset at 31.12.X3? A $40,000 B $52,500 C $40,000 D $62,500

Q: A depreciable property costing P2,600,000 with original scrap value of P200,000 after 15 years, ha…

A: DEPRECIATION: It is the reduction in the value of fixed assets due to its continuous use. It is…

Q: An asset was purchased for $135,000 on January 1, Year 1 and originally estimated to have a useful…

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

Q: Swifty Corporation purchased a depreciable asset for $359100. The estimated salvage value is $33500,…

A: Depreciation base of the asset = Cost - Salvage value

Q: Want Answer of the question

A: simple bro  Accumulated depreciation on the asset = Cost of the asset - Book value of the Asset so,…

Q: Coby’s Corp. purchased an equipment worth P 475,000 with a salvage value of P 70,000. Its useful…

A: Depreciable cost = P475,000 - P70,000 = P405,000

Q: Equipment with a cost of $305000 has an estimated salvage value of $21000 and an estimated life of 4…

A: DEPRECIATION EXPENSEDepreciation means gradual decrease in value of assets due to normal wear and…

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: A piece of equipment was purchased on 1/1/21 for $100,000, sales tax paid was $5,500, and delivery…

A: The double declining balance (DDB) depreciation method is an approach to accounting that involves…

Q: Assume Bilinger Company uses the straight-line method of depreciation and has a long-lived asset…

A: Depreciation is the amount of expenses which is charged on fixed assets due to usage of the assets,…

Q: ABC company purchased a machine use to their business whose first cost is P 500,000 with an…

A: The fixed assets depreciation over the useful life. The depreciation of each period remains the same…

Q: Tivoli Instrumentation sold a depreciable asset for cash of $100,000. The original cost of the asset…

A: To determine the amount of accumulated depreciation on the asset at the time of its sale, we can use…

Q: On January 1, 20X6, RAST Co. purchased a machine for $1,980,000 and depreciated it by the…

A: From January 1, 20X6 to January 1, 20X9: machine has been used for 3 years.   Annual Depreciation…

Q: -Electronics Company purchased equipment for cost Rs. 80,000 with an estimated useful life of 5…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: Vaughn Manufacturing purchased a depreciable asset for $1190000. The estimated salvage value is…

A: The depreciation is the decrease in value of an asset with the usage each and every year.

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: DEPRECIATION Other BV1 BV2 BV7 BV10 МЕТНODS Unknowns SL Method d15 = DB Method R = SF Method (i =…

A: Depreciation: It is the decrease of the cost  of an asset  in a methodical way until the worth of…

Q: An asset was purchased for $101,000 on January 1, Year 1 and originally estimated to have a useful…

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

Q: A fixed asset with a cost of $27,355 and accumulated depreciation of $24,619.50 is sold for…

A: Given that, Cost of the fixed asset = $27335 Accumulated  depreciation = $24619.50 Sale value of…

Q: How much is the yearly depreciation using the straight line method A 950,400 B 936,000 C 860,400…

A: Lets understand the basics. As per IAS 16 "property, plant and equipment" cost of asset not only…

Q: Jacques Ltd purchased a truck for $45,000 on 1 July 2018. It had an estimated useful life of three…

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

Q: • Johns Company has three assets that are depreciated straight-line under one Group Depreciation…

A: Depreciation  = Total Cost - Salvage Value / Useful life

Q: When originally purchased, a vehicle costing $25,380 had an estimated useful life of 8 years and an…

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

Q: Carla Vista Company purchased a depreciable asset for $46000. The estimated salvage value is $5750,…

A:

Q: A company purchased machinery for $10,800,000 on January 1, Year 1. The machinery has a useful life…

A: It is the expense of the company incurred with the daily wear and tear of the assets into the useful…

Q: Sylvia Company has a long-term plant asset with the following information as of the end of the year:…

A: When fair value of asset is reduced/declined lower than its carrying value then the difference value…

Q: The depreciation allowance for a $100,000 MACRS-GDS asset was $8,550 after its 3rd year. What was…

A: The Modified Accelerated Cost Recovery System-General Depreciation System (MACRS)GDS) is used to…

Q: ot the mentioned. 7. An asset purchased for S50,000 is to be depreciated over 5 years using the…

A: Given Information :  Cost of asset = $50,000 Salvage Value = $10,000 Life of asset = 5

Q: or loss on disposal of the fixed asset? Select the correct answer. A. $2,251.69 loss

A: Correct answer is a . Explain   Calculate the book value of the asset:   Book value of the asset…

Q: A company purchased an equipment for $25,000. The equipment had estimated useful life of 10 years…

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

Q: Equipment was purchased at a cost of $55,000. The equipment had an estimated useful life of 5 years…

A: Gain or loss on fixed asset means the final money earned or incurred from an asset either at the end…

Q: Lumax LLC purchased property, plant and equipment. The details of the PPE are given below. The…

A: We need to calculate depreciation amount from the question given so lets first try to understand…

Q: A fixed asset with a cost of $28,567 and accumulated depreciation of $25,710.30 is sold for…

A:

Q: 0,000 per year. Wh

A: Concept Under straight Line method, same amount of depreciation is charged on the Asset in each of…

Q: What was the amount of accumulated depreciation on the asset at the time of its sale

A: Step 1: Calculation of accumulated depreciation.Book value of asset = Cash received for sale of…

Q: Calculate the depreciation using the Straight-Line Method for a company that buys a piece of…

A: Depreciation is the allocation of cost of assets over the useful life of the asset. Under straight…

Q: Madison Company acquired a depreciable asset at the beginning of Year 1 at a cost of $12 million. At…

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

Q: A machine with a cost of $164,000 and accumulated depreciation of $102,000 is sold for $53,600 cash.…

A: Lets understand the basics. Cashflow are divided into three parts which are, (1) Cashflow from…

Q: ABC Company purchased a machine for $2 million that can produce 3,000,000 products over its useful…

A: Depreciation per unit produced = ($2,000,000 - $200,000) / 3,000,000 = $0.6 per unit

Q: A copier was purchased on October 1 for $18,000 and had an estimated useful life of 5 years. There…

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

Q: Falcon co purchased an asset for $100,000 ,which has a salvage value $6,000 after 10years. Based on…

A: That value at which an asset can be disposed of at the end of its life is known as salvage value or…

Q: On January 1, Year 1, Finger Company purchased equipment for $172,000. Finger uses straight-line…

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

Q: ABC purchased a machine on January 1, 20X0, for P18,000 cash. The machine has an estimated useful…

A: SOLUTION- BASIC INFORMATION- PURCHASE ON MACHINERY ON JAN 1 20X0 FOR P18000. SALVAGE VALUE OF P4700…

Q: Mid Company purchased a building for $130,000 with an estimated useful life of 10 years and $10,000…

A: Formula for Depreciation Calculation using SLM (Cost of purchase - salvage value)/useful life…

Q: A company purchased plant and equipment 4 years ago for $100 000. Depreciation is provided using the…

A: Replacement Cost:  It is the cash outlay for replacing  an old asset at the existing market price.