Machinery Purchased for $ 800000 Accumulated depreciation value is $ 600000 Sold for $400000
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- 17 Equipment that cost 412000 and on which 191000 of accumulated depreciation has been recorded was disposed of for 181000 cash. The entry to record this event would include a ?Year 2016 Plant, Property, Equipment (Gross) Accumulated depreciation reported in 2020 Annual depreciation for 2020 year $710,000 $520,000 $50,000 Find the average remaining life of Plant, Property, Equipment (PPE). 21Complete the table
- initial book value $ n residual value $ years years 1 $ 2 $ 3 $ 4 $ 5 $ 6 $ 7 $ 8 $ 9 $ 10 $ 11 $ 12 $ annual depreciation cumulative depreciation BV 1 $ 2 $ 3 $ 4 $ 5 $ 6 $ 7 $ 8 $ 3,000,000 9 $ 10 $ 12 11 $ 12 $ 16.67% annual depreciation cumulative depreciation BV 500,000.00 $ 416,666.67 $ 347,222.22 $ 289,351.85 $ 241,126.54 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 250,000 $ 2,750,000 500,000 $ 2,500,000 750,000 $ 2,250,000 1,000,000 $ 2,000,000 1,250,000 $ 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 1,500,000 $ 1,750,000 $ 2,000,000 $ 2,250,000 $ 2,500,000 $ 2,750,000 $ 3,000,000 $ 200,938.79 $ 167,448.99 $ 139,540.82 $ 116,284.02 $ 96,903.35 $ 80,752.79 $ 67,293.99 $ - 500,000.00 $2,500,000.00 916,666.67 $2,083,333.33 1,263,888.89 $1,736,111.11 1,553,240.74 $1,446,759.26 1,794,367.28 $ 1,205,632.72 1,995,306.07 $1,004,693.93 2,162,755.06 $ 837,244.94 2,302,295.88 $ 697,704.12…Estimated Accumulated Depreciation at Beginning of Year Miles Operated During Year 21,000 miles 33,900 miles 7,900 miles 22,500 miles Truck No. Residual Value Useful Life Cost 245,900 miles 295,900 miles 201,400 miles 241,500 miles $76,065 $14,590 6,220 50,605 $14,430 13,590 61,850 76,024 22,810 25,250 90,430 A. Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiary accounts for the miles operated during the current year. Round the rate per mile to two decimal places and credit to accumulated depreciation to the nearest dollar. B. Journalize the entry on Dec. 31 to record depreciation for the year. Refer to the Chart of Accounts for exact wording of account titles.Historical cost $ 270,000 Estimated useful life 6 years Salvage value $ 24,000 Estimated useful hours 12,000 hours 3,100 2019 1,100 2020 1,200 2021 Estimated hours per year: 2,800 2022 2,600 2023 1,200 2024 Required 1 Complete the depreciation schedule using the Units of Production Method. Page Adventure Park, Corp. ciation Schedule - Units of Production Depreciation Accumulated Depreciable Year Expense Depreciation Cost 12.31.19 12.31.20 12.31.21 12.31.22 12.31.23 12.32.24 2 Record depreciation expense for 2020. General Journal DR CR 3 What is the net book value of the equipment on 12.31.20? Historical cost (Accumulated depreciation) Net book value at 12.31.20 |24
- Vehicle R300000, accumulated deprciation R50000. Depreciation is calculated at 10% on cost. An old vehicle was disposed on 31 August 2020 at R20000 cash. the vehicle originally costed R25000 and the accumulated depreciation for previous years is R3000. Profif/loss for the disposed vehicle is ----------Cost of equipment $64,000, salvage value $10,000, current year deprciation $5000, Total accumulatated depreciation at the end of the year is $31,000. What is the remainder of useful life? a) 7.8 b) 12.8 c) 4.6 or d) 10.8 not sure if I rewrote the question and infor correctly..* CengageNOW2 |C w.com Mark Industries uses the straight-line depreciation method. One asset had been purchased for $11,000. Annual depreciatio. considering residual value of $1,000. What was the estimated useful life of the asset? 10.00 years 5.50 years 11.00 years 5.00 years
- Compute depreciation under different methods. b. 2.2022 DDB depreciation $90,000 P10.3 (LO 2), AN On January 1, 2022, Evers Company purchased the following two machines for use in its production process. Machine A: Machine B: Instructions The cash price of this machine was $48,000. Related expenditures also paid in cash included: sales tax $1,700, shipping costs $150, insurance during shipping $80, installation and testing costs $70, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Evers estimates that the useful life of the machine is 5 years with a $5,000 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. The recorded cost of this machine was $180,000. Evers estimates that the useful life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period. a. Prepare the following for Machine A. 1. The journal entry to record its purchase on…Does land depriciable or not explain with proper reason suppose business purchase a machine for $12000 they have estimated useful life of the machine to 9 years salvage value of $2000 measure annual depreciation cost using straight line methodEquipment that cost $879000 and had a book value of $394000 was sold for $455000. Data from the comparative balance sheets are: 12/31/21 12/31/20 Equipment $5300000 $4869000 Accumulated Depreciation 1640000 1450000 Equipment purchased during 2021 was $431000. $1310000. $829000. $919000.
