A plant bought a calciner for P220,000.00 and uses it for 10years, the life span of the equipment. What is the bookvalue of the calciner after 5 years of use. Assume a scrap value of P20,000.00 for starightline method; P22,000 for textbook declining balance method and P20,000 for the double declining balance method.
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(E2) Hello! Please help me answer this one. Please refer to the given picture/s below for the questions. Please read the instructions and directions very carefully. Double and triple check your answers, previous tutors got it wrong.
NOTE: Type only your answers. Please do not handwritten your answers. Make sure your formulas, solutions and answers' format are all correct.
PROBLEM:
2. A plant bought a calciner for P220,000.00 and uses it for 10years, the life span of the equipment. What is the bookvalue of the calciner after 5 years of use. Assume a scrap value of P20,000.00 for starightline method; P22,000 for textbook declining balance method and P20,000 for the double declining balance method.
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- (E5) Hello! Please help me answer this one. Please refer to the given picture/s below for the questions. Please read the instructions and directions very carefully. Double and triple check your answers, previous tutors got it wrong. NOTE: Type only your answers. Please do not handwritten your answers. Make sure your formulas, solutions and answers' format are all correct. PROBLEM: Depreciation Methods 5. A plastic extrusion machine cost P120.000 was purchased 4 years ago and is estimated to have a service life of 6 more years with salvage value of P15,000. If it is to replaced by a new machine and its trade-in-value is P40,000. Find the sunk cost if money worth 10% per annum.(E1) Hello! Please help me answer this one. Please refer to the given picture/s below for the questions. Please read the instructions and directions very carefully. Double and triple check your answers, previous tutors got it wrong. NOTE: Type only your answers. Please do not handwritten your answers. Make sure your formulas, solutions and answers' format are all correct. PROBLEM: Depreciation Methods 1. A broadcasting corporation purchased an equipment for P53.000.00 and paid P1,500 for freight and delivery charges to the job site. The equipment has a normal life of 10 years with a trade-in value of P5,000.00 against the purchase of a new equipment at the end of the life. a. Determine the annual depreciation cost by the straight line method. b. Determine the annual depreciation cost by the sinking fund method. Assume interest at 6.5% compounded annually.Cindy is looking over some calculations on depreciation. One estimates the depreciation expense of a new bulldozer to be $3,500. The next calculation shows the depreciation expense of a recently purchased plot of land to be $2,300. The final calculation estimates the depreciation expense of a new warehouse to be $1,300. What is wrong with these calculations? 1.The land and bulldozer calculations are likely correct, but the warehouse calculation is likely incorrect as it should not have a lower depreciation value than the other two. 2.The warehouse and bulldozer calculations are likely fine, but the plot of land calculation is incorrect as depreciation does not apply to land. 3.The land and warehouse calculations are likely correct, but the bulldozer calculation is likely incorrect as it should not have a higher depreciation value than the other two. 4.The land and bulldozer calculations are likely fine, but the warehouse calculation is incorrect as depreciation does not apply…
- PLEASE PROVIDE THE NEEDED ANSWER AND SOLUTION ASAP PLEASE THANKYOU A company purchased an air conditioner at SY Appliance Center for Php 45,000 and paid an installation fee of Php 6,000 with a delivery charge of Php 1,000. The air conditioner has an estimated life span of 5 years with a residual value of Php 15,000 a. What is the depreciable cost of the air conditioner? b. How much is the annual depreciation?To test your formulas, assume the machine purchased had an estimated useful life of three years (20,000, 30,000, and 50,000 hours, respectively). Enter the new information in the Data Section of the worksheet. Does your depreciation total 320,000 under all three methods? There are three common errors made by students completing this worksheet. Lets clear up two of them. One, an asset that has a three-year life should have no depreciation claimed in Year 4. This can be corrected using an =IF statement in Year 4. For example, the correct formula in cell C32 is =IF(B32D9,0,(D7D8)/D9) or =IF(B32D9, 0, SLN(D7, D8, D9)). You may wish to edit what you have already entered rather than retype it. Two, as mentioned in requirement 2, the double-declining-balance calculation needs to be modified in the last year of the assets life. Assuming you have already modified the formula for Year 4 (per instructions in step 2), alter the formula for Year 3 also. If you corrected any formulas, test their correctness by trying different estimated useful lives (between 3 and 8) in cell E9. Then reset the Data Section to the original values, save the revised file as DEPREC2, and reprint the worksheet to show the correct formulas. The third common error doesnt need to be corrected in this problem. The general form of the double-declining-balance formula needs to be modified to check the net book value of the asset each year to make sure it does not go below salvage value. =DDB does this automatically, but if you are writing your own formulas, this gets very complicated and is beyond the scope of the problem.Patterson Planning Corp., You have been hired by Patterson Planning Corp., an events planning company that recently had a fire in which some of the accounting records were damaged. In reviewing the fixed asset records, you find three depreciation schedules that are not labeled. They are listed in the following table. One of the assets has a depreciation rate of $4.40 per hour. Schedule A B C 1 $10,000 $10,125 $9,240 2 6,000 13,500 6,600 3 3,600 13,500 7,480 4 2,160 13,500 6,600 5 740 3,375 4,400 6 7,040 7 4,840 8 Total $22,500 $54,000 $46,200 . For each of the depreciation schedules shown on the Patterson Planning Corp., fill in the following information. If an amount box does not require an entry, leave it blank. A B C Useful life 5 4 ___________ Residual value…
- hello, I need help with straight line depreciation calculations for 2 out of 3 questions on the attached screen shots. I can't seem to figure out the amounts for the following two journal entries for 2020: JUNE 30 - Computer sold I'm not sure if my entries are correct, CAN I HAVE A DETAILED EXPLANATION TO CHECK MY WORK? The one below, delivery truck, has stumped me. I can't figure it out. A detailed explanation would be so appreciated! DECEMBER 31 - Delivery Truck discarded: Accumulated deprecation (Debit) ? Loss on Disposal of Plant Assets (Debit) ? Equipment (Credit) $33,000 TRANSACTIONS/problem: "Transactions for Ridge Company for 2020: Jun. 30 - Sold a computer that was purchased on January 1, 2017. The computer cost $45,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,000. Dec. 31 - Discarded a delivery truck that was purchased on January 1, 2016. The truck cost $33,000. It was depreciated based on a 6 year useful life with a…NOTE: You already replied on this question with the answers as indicated below. Unfortunately, all answers are being marked as incorrect. I can’t figure out what’s missing in the calculation process. Please recalculate. Thanks. PC Shopping Network may upgrade its modem pool. It last upgraded 2 years ago, when it spent $100 million on equipment with an assumed life of 5 years and an assumed salvage value of $12 million for tax purposes. The firm uses straight-line depreciation. The old equipment can be sold today for $80 million. A new modem pool can be installed today for $150 million. This will have a 3-year life and will be depreciated to zero using straight-line depreciation. The new equipment will enable the firm to increase sales by $25 million per year and decrease operating costs by $10 million per year. At the end of 0 years, the new equipment will be worthless. Assume the firm’s tax rate is 35% and the discount rate for projects of this sort is 10%. a. What is the net cash…A company bought a machine for BD300,000 which has a useful life of 7 years and can be sold for BD30,000 at the end of its useful life. Determine the Depreciation schedules, dn Accumulated depreciation, Dn Book value, Cn using straight line method and double declining balance method. Generate the plots using Microsoft excel. Repeat problem #1 if there is an installation cost of BD20,000. Repeat problem #1 if there is a dismantling cost of BD5,000. The coupon interest rate issued by Jordan Company on a 10-year bond is 10%, with a par value of BD1,000 and pays interest semi-annually. The required annual return expected by the company is 12%. Determine the bond’s value?
- this is for real estate apprasial. that just wasn't a subject choice. 1. A condominium has an economic life of 95 years, and an effective age of 20 years. The current cost to reproduce the improvements is $450,000. Using the straight-line method, what is the amount of depreciation that should be charged against this structure? 2.Which of the following statements describes the reconciliation process? a. A mathematical process that uses a strict set of rules b. Uses factual data and statistics, but is ultimately not a mathematical process c. The widening of a range of value estimates d. Entirely arbitrary and makes no use of factual data or statisticsUse AstroTurf Company's income statement below to answer the following questions.Operating costs (excl. depreciations & amortization): $4.5mDepreciation and amortization: $1.5mInterest: $0.7mNet Income: $2.8mTax Rate: 35%a. Calculate AstroTurf’s EBITDA. Provide a step-by-step explanation for how you arrived at your above solution as though you were teaching a student to solve this type of problem. Provide a clear explanation, showing any steps or processes used to reach the answer.b. What level of sales would generate a net income of $4.2m for the following year, knowing that operating costs (excl. depreciation and amortization) will increase by 7.5%, and given a 35% tax rate. Provide a step-by-step explanation for how you arrived at your above solution1. The owner of a company drawn a cheque on his personal bank account to buy an air conditioner for the office to use. The double entry should be: Debit Drawings; Credit Capital Debit Bank; Credit Capital Debit Air Conditioner; Credit Bank Debit Air Conditioner Credit Capital 2. truck costing $20,000 was purchased on January 1, 2004. It was depreciated using the straight-line method with an estimated useful life of 4 years and salvage value of $2,000. If the truck is sold at the end of 2005 for $6,000, how much gain or loss will be recognized? A. $ 1,000 gain B. $ 5,000 loss C. $ 12,000 loss D. $ 9,500 loss 3. The Statement of Financial Position of a company will include which of the following items: Accounts Receivable Rent Expense Insurance Capital Stock Sales Revenue Accounts Payable Equipment Cash Supplies…