AlignmentttingTableV18frNumberStylesAB.-Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000KB and an estimated useful life of 6 years.10 You only need to record the FIRST 4 years using each method11 SHOW YOUR CALCULATIONS.1213 STRAIGHT LINE14YEAR1SHOW YOUR WORK HERE15YEAR 216YEAR 317YEAR 4181920 Double Declining Balance21SHOW YOUR WORK HERE22YEAR123YEAR 224YEAR 325YEAR 4262728 Sum of the Years DigitsSHOW YOUR WORK HERE2930YEAR131YEAR 232YEAR 333YEAR 4Sheet1Ready17

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Description: AlignmentttingTableV18frNumberStylesAB.-Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000KB and an estimated useful life of 6 years.10 You only need to record the FIRST 4 years using each method11 S

Straight line method Depreciation = (Cost- Salvage value)/ Useful life Double declining method…

Business

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G Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000 and an estimated useful life of 6 years. H. M You only need to record the FIRST 4 years using each method SHOW YOUR CALCULATIONS. B STRAIGHT LINE YEAR1 SHOW YOUR WORK HERE YEAR 2 YEAR 3 YEAR 4 18 19 20 Double Declining Balance 21 SHOW YOUR WORK HERE 22 YEAR1 23 YEAR 2 24 YEAR 3 25 YEAR 4 26 27 28 Sum of the Years Digits SHOW YOUR WORK HERE 29 30 YEAR1 31 YEAR 2 32 YEAR 3 33 YEAR 4

G Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000 and an estimated useful life of 6 years. H. M You only need to record the FIRST 4 years using each method SHOW YOUR CALCULATIONS. B STRAIGHT LINE YEAR1 SHOW YOUR WORK HERE YEAR 2 YEAR 3 YEAR 4 18 19 20 Double Declining Balance 21 SHOW YOUR WORK HERE 22 YEAR1 23 YEAR 2 24 YEAR 3 25 YEAR 4 26 27 28 Sum of the Years Digits SHOW YOUR WORK HERE 29 30 YEAR1 31 YEAR 2 32 YEAR 3 33 YEAR 4

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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Provide step by step manual solution, given, and depreciation table for below mentioned problem. Make sure yet that your answer is the same as the given answer before sending your solution. An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8,000. Calculate the depreciation charge at the end of the fourth period using fixed-percentage method. Answer. P5,263.87
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Calculate the Annual Depreciation for each listed asset. Assume the assets were purchased on January 1st and used for 12 months. The first asset has been completed. Utilize the straight-line depreciation method: (Original cost - Estimated Salvage Value) / Estimated Useful Life = Annual Depreciation Plant Asset Cash register Computer Vehicle Machinery Desk Asset Original Cost 500.00 4,500.00 15,500.00 8,000.00 2,500.00 Calculate the amount to be depreciated: Annual Depreciation Cash register Computer Vehicle Machinery Desk Estimated Salvage Value 25.00 800.00 3,000.00 1,200.00 200.00 67.86 Estimated Useful Life 7 years 5 years 10 years 5 years 15 years Questions? Contact your instructor!
Find the depreciation for the third year using MACRS cost-recovery rates for the property placed in service at midyear. The property is a 3-year property and was purchased for $98,452. Click the icon to view a table of MACRS rates. X The depreciation is $. (Round to the nearest cent as needed.) MACRS Table Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 3-Year 33.33% 44.45 14.81 7.41 Depreciation rate for recovery perioa 5-Year 7-Year 10-Year 15-Year 20.00% 10.00% 5.00% 14.29% 32.00 19.20 11.52 11.52 5.76 24.49 17.49 12.49 8.93 8.92 8.93 4.46 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 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
1 A new backhoe costs Bob the Builder $X. It is expected to have a salvage value of $Y after N years. What rate of depreciation for the declining-balance method should Bob be using? X= Y= N= Depreciation Rate $750,000 $58,000 29 years Try Again What is the Book Value after 25 years? Try Again (Use unrounded rate)
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Consider the following accounting information for a computer system: Cost basis of the asset, I = $10,000, Useful life, N = 5 years, Estimated salvage value, S = $0. Use the double-declining-depreciation method to compute the annual depreciation allowances and the resulting book values.
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An asset has the estimated salvage values for various lives, shown in the table below. For each possible life from 1 to 6 by 1, determine the capital recovery cost for MARR of 8%/year. EOY 0 1 2 3 4 5 6 NCF -$150,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 Estimated SV $150,000 $130,000 $110,000 $100,000 $90,000 $85,000 $82,000 Capital recovery cost with 1-year life $ Capital recovery cost with 2 years life $ Capital recovery cost with 3 years life $ Capital recovery cost with 4 years life $ Capital recovery cost with 5 years life $ Capital recovery cost with 6 years life $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is ±50.
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