What's the depreciation expense based on the information below? Depreciation (percent of sales): 5% Revenues: $85,000 Gross profit: $32,000 PP&E: $70,000
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- A fixed asset with a cost of 30,000 in accumulated depreciation of 28,500 is sold for 3500 what is the amount of the gain and or the loss and disposal of the fixed asset? A fixed asset with a cost of $24,000 and accumulated depreciation of $21,600 is sold for $4,080. What is the amount of the gain or loss on the sale of the fixed asset? a. $1,680 loss b. $1,680 gain c. $2,400 loss Od. $2,400 gainNote:- General Account
- A fixed asset with a cost of $28,000 and accumulated depreciation of $25,200 is sold for $4,760. What is the amount of the gain or loss on disposal of the fixed asset? a.$1,960 loss b.$2,800 gain c.$2,800 loss d.$1,960 gainAnsCalculate the annual depreciation rate: RCN - $500,000, Sale price - $455,000, Effective age - 8 years, Site Value - $25,000 1.75% 14.00% 16.28% 2.03%
- Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?Sales are 5,750,000. COGS are 4,850,000. SG&A Overhead is 400,000. Depreciation is 84,000. Interest Expense is 48,000. What is the amount of Taxable Income?The following financial information is available for Hero Sports Ltd.:Sales : $45,000Costs : $25,000Addition to retained earnings : $5,500Dividends paid : $900Interest expense : $1,450Tax rate : 40% -Compute the depreciation expense.