Depreciation of the building for the year , 6,400 adjustment?
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- For project A, what was the calculations for depreciation to get to the final answer of 720 000?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 depreciationDouble-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $88,400 has an estimated residual value of $6,200 and an estimated useful life of 4 years. Determine the following. (a) The double-declining-balance rate % (b) The double-declining-balance depreciation for the first year
- Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $119,600 has an estimated residual value of $4,800 and an estimated useful life of four years. Determine the following. (a) The double-dedlining-balance (b) The double-declining-balance depreciation for the first year rate % ?Double-declining-balance depreciation A building acquired at the beginning of the year at a cost of $77,200 has an estimated residual value of $3,100 and an estimated useful life of 4 years. Determine the following. (a) The double-declining-balance rate (b) The double-declining-balance % depreciation for the first year $భరతవ 6. Bill Murray bought fixtures (seven-year class) for $13,000. Using MACRS, what is the depreciation expense in year 2? M
- Assume $74,000 is going to be invested in each of the following assets. Using Table 12-11 and Table 12-12. Indicate the dollar amount of the first year's depreciation. a. Office furniture b. Automobile c. Electric and gas utility property d. Sewage treatment plant First Year's DepreciationI 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 - answerAn equipment is purchased for P450,000.00 prepare a six year depreciation schedule using the Matheson formula if the estimated book value after five years is P87,500.00
- Show the steps to calculate the MACRS rates for 5-year PropertyA. CALCULATE the amount, if any, of recapture of depreciation, ordinary loss or capital gain on the disposal of an asset that was sold at the end of year 1 for $ 18,000. The machine was originally purchased at a cost of $ 20,000 and was depreciated using the MACRS method for a 5 year property class. B. INDICATE if there was recapture of depreciation (D), ordinary loss (P) or capital gain (G) in the disposal of this asset. [fill these blanks] * Amount = $. ___- * Type of disposition:Investment Property: Subsequent Measurement: A building is accounted as Investment Property. It has a cost of P5,000,000, useful life of 15 years and an estimated residual value of P500,000. It had fair values as follows: Year end Fair Value 1 P4,200,000 2 P4,800,000 If the entity used the cost model, compute for the following: a. Annual Depreciation Expense b. Carrying value as of the end of Year 1 c. Carrying value as of the end of Year 2 If the entity used the fair value model, compute for the following: d. Gain/(Loss) from change in fair value – Year 1 e. Gain/(Loss) from change in fair value – Year 2 f. Carrying value as of the end of Year 2
