ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years and a residual value of ₱500,000. The machine is being depreciated using SYD Method. The depreciation applicable to this fixed asset for 2021 is ₱1,200,000. a. What was the acquisition cost of the machinery? b. What was the carrying value of the machinery on December 31, 2021?

Q: ARON Corp. acquired a machine at a total cost of P5,200,000. The estimated life of the machine is 8…

A: Depreciation per hour = (Cost of the assets - Salvage value) / Total estimated operating machine…

Q: BTL Company purchased a tractor at a cost of $90,000.  The tractor has an estimated salvage value of…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: 1. Which depreciation method is the company using in each example? 2. Compute the depreciation…

A: (1). N Company purchased as asset for $17,000 on January 2, 2021. The asset has an expected residual…

Q: Dolores Corporation acquired Machine costing P500,000 on January 2, 2021. The estimated useful life…

A: DEPRECIATION EXPENSE Depreciation means gradual decrease in the value of an asset due to normal…

Q: On January 3, 2019, Soju Co. purchased machinery. The machinery has an estimated useful life of…

A: Sum of the years digits = n(n+1)/2 Sum of the years digits =  8(8+1)/2 Sum of the years digits =…

Q: 3. On August 31, 2019, CAMELLIA Company purchased a new machinery for ₱540,000. The machinery has an…

A: On August 31, 2019, CAMELLIA Company purchased a new machinery for ₱540,000. The machinery has an…

Q: what is the depreciation expense for the year ended December 31, 2021?

A: Formula: Depreciation Expenses= Remaining Useful life of the AssetSum of The Year's…

Q: Lockard Company purchased machinery on January 1, 2020, for $80,000. The machinery is estimated to…

A: (a)  Compute 2020 depreciation expense using the straight-line method. Depreciation expense for the…

Q: n August 31, 2019, CAMELLIA Company purchased a new machinery for ₱540,000. The machinery has an…

A: Solution: Purchase price of machinery = ₱540000 Estimated useful life = 5 years Estimated salvage…

Q: The Nickle Company purchased an asset for P17,000 on January 2, 2021. The asset has an expected…

A: (1). N Company purchased as asset for $17,000 on January 2, 2021. The asset has an expected residual…

Q: BLACK JACK Company purchased an automotive equipment on June 30, 2018 for P3,000,000. At the date of…

A: Depreciation is charged on the value of fixed assets due to normal usage , wear and tear and change…

Q: On January 1, 2018, KingKong Corp. purchased an equipment with an estimated useful life of 8 years.…

A: Salvage Value P2,000 Useful Life (in years) 8 Sum of the year (1+2+3+4+5+6+7+8) 36…

Q: On August 31, 2019, CAMELLIA Company purchased a new machinery for ₱540,000. The machinery has an…

A: A reduction in the value of assets due to usage or passage of time is defined as depreciation. The…

Q: What is the total accumulated depreciation on December 31, 2020?

A: Formula: Depreciation Expenses= Remaining Life of assetSum of Year's Digits×Depreciable Cost

Q: LILY Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation is known as a decline in the value of tangible assets over their useful life. it is a…

Q: ORCHID Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation is the allocation of cost of asset over the useful life of the asset.

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation expense is related to the drop in the value of an asset periodically because of the…