A machine was purchased at an amount of 8 million dinars for the construction works, noting that the machine's extinction period is 10 years. Calculate the annual depreciation and the final value according to the straight-line method and the years numbers method and draw the depreciation line with the period for the two methods?

Q: Copy equipment was acquired at the beginning of the year at a cost of $37,120 that has an estimated…

A: Depreciation is the allocation of cost of asset over the useful life of the asset. It can be charged…

Q: Concord Corporation constructed a building at a cost of $13650000. Weighted-average accumulated…

A: depreciation expense under SLM method = (Cost incurred +avoidable interest cost - salvage value) /…

Q: Use the double-declining-balance method to make a depreciation schedule for a piece of equipment…

A: The double declining balance method of depreciation is an accelerated method of depreciation in…

Q: A new CNC machine has an installed with a cost basis of $35,000 and an estimated service life of…

A: Given: Cost of asset = $35,000 Life = 7 years

Q: A piece of equipment is purchased for $40,000 and has an estimated salvage value of $1,000 at the…

A: Purchase cost=40,000 Salvage value=1,000 Useful life=5 years Straight line method: Depreciation…

Q: The first cost of a machine is Php 1,800,000 with a salvage value of Php 400,000 at the end of its…

A: Depreciation = C × (S/C)m/n C = original cost S = scrape value n = life of property in years m =…

Q: athe machine has an estimated salvage value of P10,000 at the end of its useful life of 8 yrs.…

A: Double declining balance method is which there is double the depreciation of straight line method of…

Q: A machine with a cost of $474000 has an estimated salvage value of $24000 and an estimated useful…

A:

Q: On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of s65,000.…

A: Straight line method In straight line method, value of a fixed asset is decreased gradually over its…

Q: ABC Company has an equipment costing P 700,000 with an estimated residual value of P 70,000 and an…

A: Depreciation The purpose of calculating the depreciation cost of the assets to determine the actual…

Q: A machine has a cost of $15,300, an estimated residual value of $3,960, and an estimated useful life…

A: Accumulated depreciation is the cumulative or total depreciation on a particular asset till date.…

Q: A machine with a cost of $75,000 has an estimated residual value of $5,000 and an estimated life of…

A: Double-declining balance method (Accelerated method): In this method of depreciation, the…

Q: My question is this: GIPI will depreciate the gymnasium building using the straight-line method over…

A: Depreciation is an accounting technique for distributing a tangible or fixed asset's cost over its…

Q: Kulot Company has an equipment costing $700,000 with an estimated residual value of $70,000 and an…

A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life…

Q: Concord Corporation constructed a building at a cost of $13650000. Weighted-average accumulated…

A: Assets: Assets are the resources of an organization used for the purpose of business operations.…

Q: I have tried this a number of times and cannot figure out A,B,& C   Sale of Equipment Equipment…

A: a. Calculate the deprecation expense under straight line method.

Q: Equipment with a cost of $950000 has an estimated salvage value of $30000 and an estimated life of 4…

A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

Q: A building with a cost of $900,000 has an estimated residual value of $360,000, has an estimated…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: A concrete and rock crusher for demolition work has been purchased for $60,000, and it has an…

A:

Q: ABC Company has an equipment costing P 700,000 with an estimated residual value of P 70,000 and an…

A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life…

Q: Copy equipment was acquired at the beginning of the year at a cost of $60,040 that has an estimated…

A: A) Depreciable cost = Cost of Equipment - Residual value =$60040 - $5500 =$54540   Depreciable cost…

Q: A machine with a cost of $55,400 has an estimated residual value of $4,246 and an estimated life of…

A: The depreciation expense is charged on fixed assets as reduced value of the assets with the passage…

Q: A machine cost 75,000 and the salvage value is 15,000 after 15 years. Find, a) the depreciation by…

A: Cost of Machinery = 75,000 Salvage Value = 15,000   Note: Since, you have posted a question with…

Q: An asset with unknown first cost value is depreciated by the straight-line method over its five year…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: A machine cost RO 50,000 and its estimated salvage value is RO 5000 and its expected life is eight…

A: Given Cost = RO 50,000 Salvage Value = RO 5000

Q: Equipment with the cost of $160,000, and estimated residual value of $40,000, and an estimate life…

A: Depreciation is a charge against profit due to wear and tear of assets due to the factor of time.

Q: Ten years ago, a contractor was able to purchase a crane whose capacity is 2000 tons costing P125…

A: Straight line basis is a method of calculating depreciation and amortization, the process of…

Q: Equipment with a cost of $200,000 has an estimated residual value of $10,000, has an estimated…

A:

Q: A machine with a cost of 120,000 has an estimated residual value of 15,000 and an estimated life of…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: The first cost of a machine is Php 1,800,000 with a salvage value of Php 300,000 at the end of its…

A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life…

Q: Copy equipment was acquired at the beginning of the year at a cost of $73,020 that has an estimated…

A: Formula: Depreciation rate (units of output method) = Depreciable cost / Estimated output where,…

Q: depreciation expense for year 3 would be

A: Compute the depreciation expense per year.

Q: A building which was constructed for Php 1,000,000 has an estimated life of 15 years and a salvage…

A: Depreciation is a sort of outlay which has to be reported by the entity for recording the regular…

Q: Prepare a depreciation schedule for the tax purposes (Annual depreciation and Book value) by…

A: Depreciation is charged on the assets indicating the decrease in the value of the asset.…

Q: A diesel-powered generator with a cost of $60,000 is expected to have a useful operating life of…

A: Introduction Deprecation may be defined as that type of operating expenses which occurs due to…

Q: A new machine costs $12,000 and has a $1300 salvage value at the end of its 8-year useful life.…

A: Depreciation:-It is an expense incurred in the normal use of fixed assets. The whole value of the…

Q: A machine with a cost of $57,300 has an estimated residual value of $3,956 and an estimated life of…

A: Depreciation is a method which reallocates the cost of a tangible asset over its useful lifeIn…

Q: Equipment costing $34000 with a salvage value of $ 18000 and an estimated life of 8 years has been…

A: Accumulated depreciation for 2 years = (Cost - salvage) * 2/ 8 = (34000 - 18000) * 2/ 8 = $4000 Book…

Q: The cost of a machine is RO 18000 with a salvage value of RO 3000 at the end of its six years of…

A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life…

Q: If the total depreciation on year 7 is 34,582 and the book value on the same year is 181,631 and the…

A: Straight-line method  SLM is computed by dividing the discrepancy between the cost of an asset and…

Q: A machine with a cost of $190,000 has an estimated residual value of $19,000 and an estimated life…

A: Depreciation- Depreciation is the process by which the monetary worth of a fixed item decreases…

Q: If the total depreciation on year 5 is 31,164 and the book value on the same year is 120,565 and the…

A: SLM method is straight line method of depreciation, under which equal amount is being charged as…

Q: A machine with a cost of $50,000 has an estimated residual value of $5,000 and an estimated useful…

A: Given the following information: Cost of the machine: $50,000 Residual value: $5,000 Estimated…

Q: Using a Sum of the Years'-Digits Depreciation, find the annual depreciation of a lathe machine that…

A: Cost of Asset : PHP 120,000 Salvage Value : PHP 15,000 Depreciable Base = Cost of Asset – Salvage…

Q: Robinson Industries purchased a copier system with a cost of $57,000 and a salvage value estimated…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units of…

A: Units of Production method Depreciation  =  Cost Of Asst - Salvage valueEstimated total production…

Q: The cost of a machine is 18,000 with a salvage value of RO 4270 at the end of its life of five…

A: The answer is option (b.) [RO 3375]  Refer step 2 for explanation

Q: The cost of asset is $100,000 and the salvage value at the end of its useful life of 8 years is…

A: Depreciation: Depreciation Cost is the cost that is allocated over its life and it is charged as an…

Q: Convert each of the following estimates of useful life to a straight-line depreciation rate, stated…

A: Note: First question is solved in last step :) 2 (1) The straight-line method of Depreciation: The…

Q: A concrete and rock crusher for demolition work has been purchased for $65,000, and it has an…

A: Depreciation:   Depreciation is an accounting method which is used for allocating the cost of a…

Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.