Equipment purchased for $80,000 with $8,000 residual value. Estimated life is 120,000 units. Calculate book value after using: Year 1: 15,000 units Year 2: 35,000 units Year 3: 30,000 units
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- Determine the hourly owning and operating cost for the third year of operation for the wheel loader described below: Purchase Price - $ 400,000 Salvage Value - $85,000 Useful Life - 5 years Tire cost - $25,000 Load Condition - Average Operating Condition - Average Fuel Cost - $ 4.35 Operating Hours - 1750/yr. Investment Rate - 12% Tax, Storage Rate - 15% Straight Line DepreciationFinancial AccountingEquipment costing $80,000 with a useful life of 10 years and a residual value of $8,000 has been depreciated for six years by the straight-line method. Assume a fiscal year ending December 31. a. What is the book value at the end of the sixth year of use?$fill in the blank 1 b. If early in the seventh year it is estimated that the remaining useful life is five years (instead of four) and the residual value is $6,000, what is the amount of depreciation for the seventh year?$fill in the blank 2
- Impact amount on sectionsUnits-of-Production Method A machine is purchased January 1 at a cost of $59,000. It is expected to produce 130,000 units and have a salvage value of $3,000 at the end of its useful life. Units produced are as follows: Year 1 10,000 Year 2 8,000 Year 3 12,000 Year 4 16,000 Year 5 11,000 Required: Prepare a schedule showing depreciation for each year and the book value at the end of each year using the units-of-production method (round calculations to two decimal places).Service Output MethodGiven:FC = 800,000.00 pesosSV = 200,000.00 pesosn = 5 yearsOutput in year 1 = 300 unitsTotal output in 5 yrs = 1000 unitsa. Depreciation per unit = ?b. Book Value at year 1= ?
- The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as follows: PLANT AND MACHINERY – COST $ 20X3 1 Jul Balance 20X4 1 Jan Cash – purchase of plant 20X3 240,000 30 Sep Transfer disposal account 60,000 20X4 160,000 30 Jun Balance 400,000 340,000 400,000 The company's policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in the years of purchase and disposal. What should be the depreciation charge for the year ended 30 June 20X4?A Initial Cost + Installation $25,000 $15,000 Uniform end of year maintenance $2,000 $4,000 Overhaul, end of 3rd year $3,500 Salvage value $3,000 Service Lifetime 4 уrs 6 yrs Calculate the capitalized costAns
- DAshavinbhaiNew Office Equipment List price: $60,000; terms: 2/10, n/30; paid within the discount period. Transportation-in: $1,500. Installation: $2,500. Cost to repair damage during unloading: $650. Routine maintenance cost after eight months: $350. determine the amount of cost to be capitalized in the asset account office equipment: ?