Explanation Given Information: The cost of the asset is $ 34 , 800 and the shipping and the setup charges were $ 600 and $ 1 , 900 , respectively. The salvage value of asset is $ 8 , 100 and expected to last 6 years. Formula used: The steps to calculate annual depreciation by straight line method are as follows: Step 1: Calculate the total cost. Step 2: Calculate the total amount of depreciation by subtracting salvage value from the total cost by using the formula, Total amount of depreciation = Total cost − Salvage cost Step 3: Calculate the annual depreciation by dividing estimated useful life from the total amount of depreciation given by the formula, Total amount of annual depreciation = Total depreciation estimated useful life Calculation: Consider the provided cost of asset is $ 34 , 800 and the shipping and the setup charges were $ 600 and $ 1 , 900 , respectively

Contemporary Mathematics For Business & Consumers, Loose-leaf Version

8th Edition

ISBN: 9781305867185

Author: Robert Brechner, Geroge Bergeman

Publisher: South-Western College Pub

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Chapter 17.I, Problem 8RE

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To calculate: The total cost, total depreciation and annual depreciation of the asset when the asset purchased cost is $34,800.

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Chapter 17.I, Problem 7RE

Chapter 17.I, Problem 9RE

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Chapter 17 Solutions

Contemporary Mathematics For Business & Consumers, Loose-leaf Version

Ch. 17.I - Wild Flour Bakery purchased a new bread oven for...Ch. 17.I - Prob. 2TIE Ch. 17.I - Prob. 3TIE Ch. 17.I - Prestige Limousine Sen ice purchased a limousine...Ch. 17.I - Prob. 1RE Ch. 17.I - Prob. 2RE Ch. 17.I - Prob. 3RE Ch. 17.I - Prob. 4RE Ch. 17.I - Prob. 5RE Ch. 17.I - Prob. 6RE

Ch. 17.I - Prob. 7RE Ch. 17.I - Prob. 8RE Ch. 17.I - The Huffy Laundromat purchased new washing...Ch. 17.I - Prob. 10RE Ch. 17.I - Prob. 11RE Ch. 17.I - Prob. 12RE Ch. 17.I - Prob. 13RE Ch. 17.I - Prob. 14RE Ch. 17.I - Prob. 15RE Ch. 17.I - Prob. 16RE Ch. 17.I - Prob. 17RE Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Prob. 19RE Ch. 17.I - Prob. 20RE Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Prob. 22RE Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Prob. 24RE Ch. 17.I - Prob. 25RE Ch. 17.I - Prob. 26RE Ch. 17.I - Prob. 27RE Ch. 17.I - Prob. 28RE Ch. 17.I - Prob. 29RE Ch. 17.I - Prob. 30RE Ch. 17.I - Prob. 31RE Ch. 17.I - You are the accountant for Raleigh Industries, a...Ch. 17.I - BUSINESS DECISION: REPLACING AN ASSET Supreme Auto...Ch. 17.II - Prob. 5TIE Ch. 17.II - Prob. 6TIE Ch. 17.II - 1. Ink Masters Printing purchased a new printing...Ch. 17.II - Prob. 2RE Ch. 17.II - Prob. 3RE Ch. 17.II - Prob. 4RE Ch. 17.II - Prob. 5RE Ch. 17.II - All-That-Glitters Mining Company paid $49.250.000...Ch. 17.II - 7. Sequoia Timber Company purchased land...Ch. 17.II - Prob. 8RE Ch. 17 - Prob. 1CR Ch. 17 - Prob. 2CR Ch. 17 - 3. The useful _____ is the length of time an asset...Ch. 17 - Prob. 4CR Ch. 17 - 5. Depreciation methods that assume an asset...Ch. 17 - Prob. 6CR Ch. 17 - Prob. 7CR Ch. 17 - 8. A method of accelerated depreciation that uses...Ch. 17 - Prob. 9CR Ch. 17 - Prob. 10CR Ch. 17 - Prob. 11CR Ch. 17 - Prob. 12CR Ch. 17 - Prob. 13CR Ch. 17 - When natural resources are depleted, the average...Ch. 17 - Calculate the total cost, total depreciation, and...Ch. 17 - Calculate the total cost, total depreciation, and...Ch. 17 - Oxford Manufacturing. Inc., purchased new...Ch. 17 - Prob. 4AT Ch. 17 - Prob. 5AT Ch. 17 - Prob. 6AT Ch. 17 - Prob. 7AT Ch. 17 - Prob. 8AT Ch. 17 - Prob. 9AT Ch. 17 - Prob. 10AT Ch. 17 - Prob. 11AT Ch. 17 - Screen Gems Movie Theater purchased a new...Ch. 17 - Stone Age Concrete, Inc. MACRS Depreciation...Ch. 17 - Prob. 14AT Ch. 17 - In January 2002. Marine Science Corporation was...

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The total cost, total depreciation and annual depreciation of the asset when the asset purchased cost is $ 34 , 800 .

Solution Summary: The author explains the steps to calculate annual depreciation by straight line method by dividing estimated useful life from the total cost.

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To calculate: The total cost, total depreciation and annual depreciation of the asset when the asset purchased cost is $34,800.

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Chapter 17 Solutions