2:085GSearchE Depreciation Assignment filled in.xlsxТуре of Car:PorscheCost of Car:$78,100Useful Life;5 yearsResidual Value:$3,100Estimated Miles: 100,000Miles by Year:Year 1: 28,000Year 2: 35,000Year 3: 25,000Year 4: 12,000STRAIGHT-LINE DEPRECIATION|CarryingValueDepreciationAccumulatedExpense|DepreciationYear 1Year 2Year 3Year 4Year 5Year 6Year 7DOUBLE DECLINING BALANCE|CarryingValueDepreciationAccumulatedExpenseDepreciationYear 1 DOUBLE DECLINING BALANCEAccumulatedDepreciationCarryingValueDepreciationExpenseYear 1Year 2Year 3Year 4Year 5Year 6Year 7UNITS OF PRODUCTION METHODCarryingValueDepreciationAccumulatedExpenseDepreciationYear 1Year 2Year 3Year 4Year 5Year 6Year 7

Name: 2:085GSearchE Depreciation Assignment filled in.xlsxТуре of Car:Porsc
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Description: 2:085GSearchE Depreciation Assignment filled in.xlsxТуре of Car:PorscheCost of Car:$78,100Useful Life;5 yearsResidual Value:$3,100Estimated Miles: 100,000Miles by Year:Year 1: 28,000Year 2: 35,000Year 3: 25,000Year 4: 12,000STRAIGHT-LINE DEPRECIATIO

Due to various reasons such as a change in technology, normal wear & tear, obsolescence, etc.…

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Cost of Car: $78,100 Useful Life: 5 years Residual Value: $3,100 Estimated Miles: 100,000 Miles by Year: Year 1: 28,000 Year 2: 35,000 Year 3: 25,000 Year 4: 12,000 STRAIGHT-LINE DEPRECIATION Depreciation Expense |Carrying Value Accumulated Depreciation Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7

Cost of Car: $78,100 Useful Life: 5 years Residual Value: $3,100 Estimated Miles: 100,000 Miles by Year: Year 1: 28,000 Year 2: 35,000 Year 3: 25,000 Year 4: 12,000 STRAIGHT-LINE DEPRECIATION Depreciation Expense |Carrying Value Accumulated Depreciation Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Land: $9,397 Buildings: $20,722 Furnitures, Fixtures, and Equipment: $16,631 Other: $6,931 Accumulated Depreciation: $26,506 Net Property, Plant, and Equipment: 27,175 Sales: $134,752 a. Assuming a useful life of 10 years and no residual value, what is the expected amount of depreciation expense? answer to the nearest million. b. What is the fixed asset turnover ratio? answer to two decimal places. c. What is the average age of fixed assets? answer to two decimal places. d. What is depreciation expense as a percentage of net sales? answer to two decimal places.
Book value Find the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used Recovery period (years) 5 Elapsed time since purchase (years) 2 Asset A Installed cost $839,000 The remaining book value is $ (Round to the nearest dollar.) Data table (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Recovery year 1 2 3 4 5 6 7 8 3 years 33% 45% 15% 7% 9 10 11 Totals Percentage by recovery year* 5 years 7 years 20% 14% 32% 19% 12% 12% 5% 25% 18% 12% 9% 8% 7% 6% 6% 6% 4% 100% 100% 100% 100% *These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year 10 years 10% 18%…
Depreciation Methods A company wants to buy a new refrigerated truck for $5,000,000. The truck can be used for 4 years, then it has a market value of $360,000. You are asked to calculate the depreciation for each year for each of the four classic depreciation methods: a) straight line b) Declining balance of 150% c) Units of production method (given: use in year 1: 450,000 km, year 2: 410,000 km, year 3: 380,000 km, year 4: 330,000 km) Please solve in Excel and show the formulas. Please answer fast i give upvote.
10
Calculate strictly in Straight line method for upvotes
Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $134,200 has an estimated residual value of $5,200 and an estimated useful life of 10 years. Determine the following: (a) The depreciable cost (b) The straight-line rate % (c) The annual straight-line depreciation
Manji
Modified Accelerated Cost Recovery System An example of a depreciation schedule under the Modified Accelerated Cost Recovery System of depreciation is shown. The Internal Revenue Service (IRS) classifies various assets according to useful life and sets depreciation rates for each year of the asset’s life. This asset has a five year life. The MACRS rates are shown in the schedule. This example is for an asset with a cost of $40,000 and a salvage value of $4,000. MODIFIED ACCELERATED COST RECOVERY SYSTEM Year Cost × Rate = DepreciationExpense AccumulatedDepreciation(End of Year) Book Value(End of Year) 1 $40,000 20.00% $8,000 $8,000 $32,000 2 40,000 32.00% 12,800 20,800 19,200 3 40,000 19.20% 7,680 28,480 11,520 4 40,000 11.52% 4,608 33,088 6,912 5 40,000 11.52% 4,608 37,696 2,304 6 40,000 5.76% 2,304 40,000 0 Prepare a depreciation schedule showing the depreciation…
I have included the question and answer I just need to know how to get the answer. Chart attached. Find the depreciation for the indicated year using MACRS cost-recovery rates for the properties placed in service at midyear. Round dollar amounts to the nearest cent. Property Class: 3-year Depreciation year: 3 Cost of property: $97,700 $14,469.37 - answer
Do in excel please
No written by hand solution An asset with a first cost of $14,000 is depreciated using the Modified Accelerated Cost recovery System (MACRS) over a 5-year period. The cash flow before taxes (CFBT) is estimated at $10,000 for the first 4 years and $5000 thereafter as long as the asset is retained. The effective tax rate is 40%, and the money is worth 8% per year. In present worth dollars, how much of the cash flow generated by the asset over its recovery period is lost to taxes? The present worth (PW) of CFBT is determined to be $ . The present worth (PW) of CFAT is determined to be $ . The difference between the two present worth (PW) values is determined to be $ .
Cost of asset: $11,000 Estimated Useful life: 10 years Estimated Total Units of activity : 5000 units Estimated Salvage value: $1000 Units of Production in Year 1:100 units Units of Production in Year 2:500 units Units of Production in Year 3: 800 units Units of activity method: Net Book Value at the end of year 3 is $