Depreciation was recorded on the truck using the straight-line method. Assume a useful life of five years and a salvage value of $5,000. of $5,000. Determine Determine the depreciation expense.
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- The depreciation schedule for an asset, with a salvage value of $90 at the end of the recovery period, has been computed by several methods. Identify the depreciation method used for each schedule.Equipment was acquired at the beginning of the year at a cost of $562,500. The equipment was depreciated using the straight-line method based on an estimated useful life of 9 years and an estimated residual value of $47,675. Question Content Area a. What was the depreciation for the first year? Round your answer to the nearest cent.$fill in the blank 0c4447fd4012faf_1 b. Using the rounded amount from Part a in your computation, determine the gain or loss on the sale of the equipment, assuming it was sold at the end of year eight for $98,318. Round your answer to the nearest cent. Enter your answer as a positive amount.$fill in the blank 0c4447fd4012faf_2 Question Content Area c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Cash Accumulated Depreciation-Equipment Loss on Sale of Equipment EquipmentCalculate the Total Cost, total, depreciation and annual depreceation for the following assets by using the line method. (Round to Straight nearest Cent) Cost 76,400 1,500 Shipping Charges Annust Total Cost Salunge Value Useful Depreciation Depreistion 4,500 life ↑ years 11
- Equipment was acquired at the beginning of the year at a cost of $600,000. The equipment was depreciated using the straight-line method based on an estimated useful life of 9 years and an estimated residual value of $45,485. Question Content Area a. What was the depreciation for the first year? Round your answer to the nearest cent.$fill in the blank f37eae05d037039_1 b. Using the rounded amount from Part a in your computation, determine the gain or loss on the sale of the equipment, assuming it was sold at the end of year eight for $102,388. Round your answer to the nearest cent. Enter your answer as a positive amount.$fill in the blank f37eae05d037039_2 Question Content Area c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. blank Cash Accumulated Depreciation-Equipment Gain on Sale of Equipment EquipmentEquipment was acquired at the beginning of the year at a cost of $78,660. The equipment was depreciated using the straight-line method based on an estimated useful life of 6 years and an estimated residual value of $7,980. a. Compute the depreciation expense for the first year.$fill in the blank 1a46def96073f8b_1 b. Assuming the equipment was sold at the end of the second year for $59,500, determine the gain or loss on sale of the equipment.$fill in the blank 1a46def96073f8b_2 c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank.1) Machinery purchased for RO 100,000 with an estimated useful life of 10 years. The expected salvage value at the end of its useful life is RO 10,000. i) Cakulate depreciation under Straight Line Method. ii) Cakulate the depreciation under Write Down Value method and prepare a Depreciation Schedule for 5 years.
- 1) Machinery purchased for RO 100,000 with an estimated useful life of 10 years. The expected salvage value at the end of its useful life is RO 10,000. i) Calculate depreciation under Straight Line Method. ii) Calculate the depreciation under Write Down Value method and prepare a Depreciation Schedule for 5 years.An asset was purchased at a cost of P7,000. It was estimated to have a useful life of ten years with a salvage value of P800 at the end of the time. Determine the total depreciation one year before it was sold using the straight line method.Equipment was acquired at the beginning of the year at a cost of $76,260. The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,500. a. What was the depreciation expense for the first year?$fill in the blank 597a0106107104f_1 b. Assuming the equipment was sold at the end of the second year for $57,600, determine the gain or loss on sale of the equipment.$fill in the blank 597a0106107104f_2 c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank or enter "0". fill in the blank b3d1de007fa207e_2 fill in the blank b3d1de007fa207e_3 fill in the blank b3d1de007fa207e_5 fill in the blank b3d1de007fa207e_6 fill in the blank b3d1de007fa207e_8 fill in the blank b3d1de007fa207e_9 fill in the blank b3d1de007fa207e_11 fill in the blank b3d1de007fa207e_12
- A certain office equipment has a first cost of 29,788 and has a salvage value of 1,358 at the end of 14 years. Determine the depreciation at the end of the year 4 using sinking fund method at an interest of 0.101Equipment was acquired at the beginning of the year at a cost of $75,000. The equipment was depreciated using the straight-line method based on an estimated useful life of 6 years and an estimated residual value of $7,860. a. Compute the depreciation expense for the first year.$fill in the blank ae090fffb018010_112,525b. Assuming the equipment was sold at the end of the second year for $56,800, determine the gain or loss on sale of the equipment.$fill in the blank ae090fffb018010_2 c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. fill in the blank fill in the blank fill in the blank fill in the blankfill in the blank fill in the blank fill in the blank fill in the blankEquipment was acquired at the beginning of the year at a cost of $78,840. The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,860. a. What was the depreciation expense for the first year?$fill in the blank 4b6aeefb5057020_1 b. Assuming the equipment was sold at the end of the second year for $59,600, determine the gain or loss on sale of the equipment.$fill in the blank 4b6aeefb5057020_2 c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank or enter "0". - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -
