Bundle: College Accounting, Chapters 1-27, Loose-Leaf Version, 22nd + CengageNOWv2, 2 terms Printed Access Card
22nd Edition
ISBN: 9781305930421
Author: James A. Heintz, Robert W. Parry
Publisher: Cengage Learning
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Chapter 18, Problem 3CE
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1. The Alfa Company purchased a machine for $36.500. The salvage value will be $7.700.
a) Make a straight-line depreciation schedule by completing the following table if its life
expectancy is projected to be three years.
Yearly Depreciation
Accumulated Depreciation
End of Year Book Value
YEAR
1.
2.
3.
b) If the expected life of the machine is 115.200 hours, find a unit depreciation, and
calculate the first year depreciation if machine worked for 25.000 hours.
4. A machine costs 2,500,000. At the end of its economic life of five
years, its salvage value is Php 800,000. Using the Sum of the Years Digit Method of Depreciation, what will be its book value for the first year?Prepare a depreciation Schedule.
If the total depreciation on year 7 is 34,582 and the book value on the same year is 181,631 and the machine has a life of 14 years, what is the salvage value of the machine using SLM?
Write your answer in two decimal places
Chapter 18 Solutions
Bundle: College Accounting, Chapters 1-27, Loose-Leaf Version, 22nd + CengageNOWv2, 2 terms Printed Access Card
Ch. 18 - Prob. 1TFCh. 18 - Prob. 2TFCh. 18 - Depreciation is a process of asset valuation; that...Ch. 18 - The straight-line method of depreciation allocates...Ch. 18 - Prob. 5TFCh. 18 - Prob. 1MCCh. 18 - Prob. 2MCCh. 18 - Prob. 3MCCh. 18 - Prob. 4MCCh. 18 - Prob. 5MC
Ch. 18 - The following costs were incurred to purchase a...Ch. 18 - Prob. 2CECh. 18 - Prob. 3CECh. 18 - Grandorf Company replaced the engine in a truck...Ch. 18 - Prepare journal entries for the following...Ch. 18 - Prob. 6CECh. 18 - Prob. 7CECh. 18 - Prob. 1RQCh. 18 - Prob. 2RQCh. 18 - Prob. 3RQCh. 18 - What is meant by the depreciable cost of a plant...Ch. 18 - Prob. 5RQCh. 18 - Prob. 6RQCh. 18 - Prob. 7RQCh. 18 - Prob. 8RQCh. 18 - Prob. 9RQCh. 18 - Prob. 10RQCh. 18 - Prob. 11RQCh. 18 - Prob. 12RQCh. 18 - Prob. 13RQCh. 18 - Prob. 14RQCh. 18 - Prob. 15RQCh. 18 - Prob. 16RQCh. 18 - Prob. 17RQCh. 18 - Prob. 18RQCh. 18 - Prob. 19RQCh. 18 - Prob. 20RQCh. 18 - Prob. 21RQCh. 18 - Prob. 22RQCh. 18 - Prob. 1SEACh. 18 - STRAIGHT-LINE, DECLINING-BALANCE, AND...Ch. 18 - UNITS-OF-PRODUCTION METHOD The truck purchased in...Ch. 18 - Prob. 4SEACh. 18 - JOURNAL ENTRIES: DISPOSITION OF PLANT ASSETS...Ch. 18 - Prob. 6SEACh. 18 - STRAIGHT-LINE, DECLINING-BALANCE,...Ch. 18 - UNITS-OF-PRODUCTION METHOD A machine is purchased...Ch. 18 - CALCULATING AND JOURNALIZING DEPRECIATION...Ch. 18 - IMPACT OF IMPROVEMENTS AND REPLACEMENTS ON THE...Ch. 18 - DISPOSITION OF ASSETS: JOURNALIZING Mitchell Parts...Ch. 18 - DEPLETION: CALCULATING AND JOURNALIZING Mineral...Ch. 18 - INTANGIBLE LONG-TERM ASSETS Track Town Co. had the...Ch. 18 - Prob. 1SEBCh. 18 - STRAIGHT-LINE, DECLINING-BALANCE, AND...Ch. 18 - Prob. 3SEBCh. 18 - Prob. 4SEBCh. 18 - JOURNAL ENTRIES: DISPOSITION OF PLANT ASSETS...Ch. 18 - Prob. 6SEBCh. 18 - STRAIGHT-LINE, DECLINING-BALANCE,...Ch. 18 - UNITS-OF-PRODUCTION METHOD A machine is purchased...Ch. 18 - CALCULATING AND JOURNALIZING DEPRECIATION...Ch. 18 - IMPACT OF IMPROVEMENTS AND REPLACEMENTS ON THE...Ch. 18 - DISPOSITION OF ASSETS: JOURNALIZING Mayer Delivery...Ch. 18 - DEPLETION: CALCULATING AND JOURNALIZING Mining...Ch. 18 - Prob. 13SPBCh. 18 - Prob. 1MYWCh. 18 - Creative Solutions purchased a patent from Russell...Ch. 18 - On April 1, 20-3, Kwik Kopy Printing purchased a...Ch. 18 - Prob. 1CP
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- A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.arrow_forwardA machine costing P1,500,000.00 has an estimated economic life of 7 years. If the salvage value is P10,000.00 at the end of the 7th year, Find the depreciation in the third year using sum-of-the-years digit methodarrow_forwardCalculate depreciation. A machine cost $165,000 on April 28, 2021. Its estimated salvage value is $5,000 and its expected life is eight years. Instructions Prepare a depreciation schedule for each year using each of the following methods, showing the figures used. These schedules should have formulas in the cells referencing the "input section" that was discussed previously. (a) Straight-line (b) Double-declining-balance (c) Sum-of-the-years'-digitsarrow_forward
- If the total depreciation after 1 year and 2 years in an equipment are 21,255 and 35,731 respectively using DBM and the equipment has an expected life of 8 years, find the salvage value. Write your final answer in two decimal places.arrow_forwardN1. Account A piece of equipment is purchased for $40,000 and has an estimated salvage value of $1,000 at the end of the recovery period. Prepare a depreciation schedule for the piece of equipment using the straight-line method, the sum-of-the-years method, and the 200% declining-balance method with a recovery period of five years. Compare these depreciation methods in a graph.arrow_forward3. Help me answer the given question. Round off to the nearest three (3) decimal placesarrow_forward
- Description You are to create a year-by-year depreciation schedule for an asset that has a cost basis (B) of $950,000 and estimated salvage value (SV 10) of $80,000 after 10 years. For the straight-line and declining balance methods, use a depreciable life (N) of 10 years. For MACRS, use a recovery period (N) of 7-yrs. ΕΟΥ, Κ 0 1 2 3 st 4 5 6 7 8 'a 9 10 Straight-Line BVk $950,000 Declining Balance dk BVk $950,000 dk MACRS BVk 950,000arrow_forwardSolve for the Depreciation and use continuous computations, round off your final answers to two (2) decimal places.arrow_forwardA machine cost 75,000 and the salvage value is 15,000 after 15 years. Find, a) the depreciation by Straight Line Method if i = 15% b) the depreciation by Sinking Fund Method if i = 15% c) the depreciation charge at the end of 4th year by Declining Balance Method, Double Declining Balance Method and Sum of Years Digit Method d) the book value after 8 years by SLM, SFM, DBM, DDBM and SYDM Please follow the format in answering. 1. Given 2. Required 3. Formula used 4. Cash flow diagram/ cash flow sketch: 5. Solutions (w/ explanation)arrow_forward
- A machine has a first cost of P36,000 and a salvage value ofP4,000 after 8years. Find the annual depreciation rate using straight line method.arrow_forwardplease solve upper first as per guideline thnxarrow_forwardA certain equipment has a first cost of P 12,000 and a salvage value of P 500 at the end of x years. What is the value of x if the annual depreciation is P 1,437.5 using the Straight Line Method?arrow_forward
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