Example Problem 3: Re-work Example 1 using SYD METHOD+ΕΟΥ, kNumber ofSYDdkBVkdk*DepreciationFactoryear inreverseorder (digits1100.1818727.2729.654.550.16360.145538581.8240.1273509.091527.272472.730.1091436.3650.0909363.6440.0727290.9130.0545218.189.0.0364145.451010.018272.73Sum of55Digits

Depreciation is the non-cash outlay that is recorded in the books due to regular wear and tear of an…

Example Problem 3: Re-work Example 1 using SYD METHOD ΕΟΥ, k Number of SYD dk BVk dk* Depreciation Factor year in reverse order (digits 1 10 0.1818 727.27 9. 0.1636 654.55 3 0.1455 581.82 4 7 0.1273 509.09 1527.27 2472.73 5 0.1091 436.36 6. 0.0909 363.64 7 0.0727 290.91 8 0.0545 218.18 9 0.0364 145.45 10 1 0.0182 72.73 Sum of 55 Digits o5432-3

Example Problem 3: Re-work Example 1 using SYD METHOD ΕΟΥ, k Number of SYD dk BVk dk* Depreciation Factor year in reverse order (digits 1 10 0.1818 727.27 9. 0.1636 654.55 3 0.1455 581.82 4 7 0.1273 509.09 1527.27 2472.73 5 0.1091 436.36 6. 0.0909 363.64 7 0.0727 290.91 8 0.0545 218.18 9 0.0364 145.45 10 1 0.0182 72.73 Sum of 55 Digits o5432-3

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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QUESTION 9 Amotor vehicle which cost £30,000 is depreciated at 20% per annum using the reducing balance method. The depreciation charge for the second year would be: a. £13,800 b.E8,000 c. £4,800 24,000x20%=£4,800 d.£7,200
Sairra LLC purchased only one asset during the current year (a full 12-month tax year). On April 16 Sairra placed in service furniture (seven-year property) with a basis of $38,000. Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation). (Use MACRS Table 1.) (Round final answer to the nearest whole number.) Multiple Choice $2,715 $5,430 $6,320 $7,600 None of the choices are correct.
Table 1 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year Year 1 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% Year 2 44.45 32.00 24.49 18.00 9.50 7.219 Year 3 14.81 19.20 17.49 14.40 8.55 6.677 Year 4 7.41 11.52 12.49 11.52 7.70 6.177 Year 5 11.52 8.93 9.22 6.93 5.713 Year 6 5.76 8.92 7.37 6.23 5.285 Year 7 8.93 6.55 5.90 4.888 Year 8 4.46 6.55 5.90 4.522 Year 9 6.56 5.91 4.462 Year 10 6.55 5.90 4.461 Year 11 3.28 5.91 4.462 Year 12 5.90 4.461 Year 13 5.91 4.462 Year 14 5.90 4.461 Year 15 5.91 4.462 Year 16 2.95 4.461 Year 17 4.462 Year 18 4.461 Year 19 4.462 Year 20 4.461 Year 21 2.231 Table 3 Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year 1…
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10/23/22, 3:12 AM Year 3-Year 1 33.33% 2 3 4 5 6 7 8 9012345673222 11 18 44.45 14.81 7.41 Depreciation rate for recovery period 7-Year 14.29% 5-Year 20.00% 32.00 19.20 11.52 11.52 5.76 24.49 17.49 12.49 8.93 8.92 8.93 4.46 10-Year 15-Year 10.00% 5.00% 9.50 8.55 7.70 6.93 6.23 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 MACRS Table " 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231
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Calculation Depreciation Rate 40 40 40 % % % 40 % # of Months 6/12 12/12 12/12 12/12 +A Depreciation Expense 18250 29200 17520 10512 Accumulated Depreciation End of Year 18250 32368 48552 64736 80920 Carrying Amount 73000 43800 26280 15768
CengageNOWV2| Assignme * CengageNOwv2 | Onlin X enow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker38&takeAssignmentSessionLocator=&inprogress=false Calculator If a fixed asset, such as a computer, were purchased on January 1 for $3,750 with an estimated life of three years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is Oa. Depreciation Expense 100 Accumulated Depreciation 100 Ob. Depreciation Expense 1,200 Accumulated Depreciation 1,200 Oc. Accumulated Depreciation 1,200 Depreciation Expense 1,200 Od. Accumulated Depreciation 100 Depreciation Expense 100 Previous 0-23 AM
Question 11: What argument in the double-declining balance depreciation function may equal zero? Answer: A. O Cost B. O Salvage Value C. O Useful Life D. O Period Copynight 2022 - Labyrih Leaning- AI Rights Reserved ab 49F Mas End PrtSon Home FA & 6. R T Y.
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