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: 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: 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: 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: 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: 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: 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: 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…

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

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

A:

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: 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: 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…