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21 - What is the normal
A) 5%
B) 2%
C) 10%
D) 20%
E) 4%
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Solved in 2 steps
- 13. An asset which cost $100,000 is being depreciated under MACRS using a 10-year normal recovery period. The depreciation expense in year 11 is A. $3,000.B. $4,000.C. $0.D. $6,000.10. An asset which cost $10,000 when new is being depreciated under MACRS using a 5-year normal recovery period. What is the depreciation expense in year 3?A. $1,900B. $1,200C. $1,500D. $2,10017 Your company purchased an asset with a total cost of $300,000. The asset has an expected useful life of 20 years. The asset also has an expected residual value of $50,000. Please prepare the depreciation amounts for the first 3 years of the asset’s life using Straight-Line Method and Double Declining Balance methods. Please detail the depreciation amount and the ending book value for each year.
- 16. An asset originally cost $100,000, also incurred installation costs of $10,000 and has an estimated salvage value of $25,000. It is being depreciated under MACRS, using a 5-year normal recovery period. What is the depreciation expense in year 1?A. $15,000B. $12,750C. $11,250D. $22,0001. An equipment costing P750,000 has a life expectancy of 6 years. Using the sum-of-year’s digit method of depreciation, what must be its salvage value such that its depreciation charge at the fifth year is P52,380.95? A. P400,000 B. P250,000 C. P300,000 D. P200,000A company purchases an asset for P 10,000.00 and plans to keep it for 20 years. If the salvage value is zero at the end of the 20th year: (a) What is the depreciation in the third year? (b) What is the total depreciation at the end of 14 years? (c) What is the book value of the asset at the end of 8 years? Use sum-of-the-year’s digits depreciation.
- 29 Assume that you have purchased an asset for OMR 10000 and expecting the useful life of 10 years. If you have charged the total depreciation of OMR 8000 over its useful life, calculate the residual value of the asset. a. OMR 20000 b. OMR 8000 c. OMR 2000 d. OMR 180009Computers worth $50,000 are eligible for 20% bonus depreciation plus MACRS. Determine the depreciation schedule.10.) How much is Accumulated Depreciation per year?11.) How long is the estimated useful life of the equipment?12.) How much is adjusted Salaries Expense on December 31, 2021?
- QUESTION 6 A piece of equipment with a cost of $1,000,000 and a residual value of $200,000, has an estimated useful life of 50 years, and is depreciated using the straight-line method. a) What is the depreciation per year? b) What is the book value of the equipment after the 20th year of use? c) At the beginning of the 21st year of use, management decided that the residual value should be changed to $180,000 and that 25 years was a reasonable estimate of the equipment's remaining useful life.Compute the 175% DB depreciation schedule for an asset with the followingdata:Cost of the asset, I $25,000Useful life, N 5 YearsSalvage value, S $3,000(a) What is the value of a?(b) What is the amount of depreciation for the first full year of use?( c) What is the book value of the asset at the end of the fourth year?7. An asset costing P50,000 has a life expectancy of 6 years and an estimated salvage value of P8000.Calculate the depreciation charge at the end of the fourth period using fixed-percentage method. with cash flow