AEC purchased an equipment for its manufacturing plant that costs PhP 3,750,000 + 10,000(x). It is estimated to have a useful life of 20 years; scrap value of PhP 375,000, production of 12,345,678 + 15,000(x) units and working hours of 100,000 + 1,500(x) hours. The company uses the equipment for 7,884 hours and produced 876,543 units on the first year and 7,883 hours and produced 987,654 units on the second year. Solve for the following: x=09 Straight Line Method -Total Depreciation after the 1st year  -book value at the end of the 2nd year

Q: A machine was purchased at an original cost of P3,250,114 with a salvage value of P386,985. The…

A: Loss in value for every unit produced=Original cost-Salvage valueExpected total…

Q: Mareos Company purchased for $3,800,000 a mine estimated to contain 3,000,000 tons of ore. When the…

A: Depreciation per ton (Units of production method) =(cost of Asset - salvage value )  / Estimated…

Q: At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for…

A: Formulas: Depletion per feet (units-of-production method) = (Cost of timber tract - residual value)…

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x…

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

Q: Grab Manufacturing Co. purchased a ten-ton draw press at a cost of $180,000. Since the company made…

A: Any amount of money spent to generate the revenues in a business is known as expenses.

Q: An industrial plant bought a generator set for 99,000. Other expenses including installation…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: ABC company pays $262,500 for equipment expected to last four years and have a $30,000 salvage…

A: Journal is the recording of financial transactions according to dual entity concept.

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x…

A: Working Hour Method Depreciation Calculation of working hour method which can be consider the total…

Q: A company purchased an equipment for its manufacturing plant that costs PhP 3,750,000 + 10,000(x).…

A: Rate of depreciation under double-declining balance method = (1/N)*100*2 Where N is the number of…

Q: Marshall Company purchases a machine for $240,000. The machine has an estimated residual value of…

A: Residual value, also referred to as salvage value, is the value of an asset at the end of its…

Q: A company purchased an equipment for its manufacturing plant that costs PhP 3,750,000 + 10,000(x).…

A: Service Output Method Service output method which is also called working hour method depreciation…

Q: Ivanhoe Co. purchased land as a factory site for $520,000. The process of tearing down two old…

A: Cost of the asset or the book value of the asset is the amount at which the asset is recorded in…

Q: Mkara bakers bought a machinery of Sh. 1,500,000. The Machinery is expected to produce 3 million…

A: (i) Depreciation charge per pencil = Sh.1,500,000-Sh.150,0003,000,000=Sh.1,350,0003,000,000=Sh. 0.45

Q: capitalized amount of the equipment?

A: Meaning of Capitalized costs Capitalized costs includes all the fixed costs incurred in purchase of…

Q: What is the total carrying value of the manufacturing plant (machine, and equipment) as of December…

A: All the costs incurred to make the asset ready for its intended use shall be capitalized to the…

Q: Ivanhoe Co. purchased land as a factory site for $520,000. The process of tearing down two old…

A: Cost of land: The financial accounting term cost of the land refers to the asset valuation method…

Q: A machine that cost $400,000 has an estimated residual value of $40,000, an estimated useful life of…

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

Q: A machine costing $210,600 with a four-year life and an estimated $17,000 salvage value is installed…

A: Depreciation refers to the charge that represents the decline in the value of fixed asset. The…

Q: AEC purchased an equipment for its manufacturing plant that costs PhP 3,750,000 + 10,000(x). It is…

A: Depreciation seems to be an accounting method for assigning costs of a physical or tangible asset…

Q: Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the…

A: Annual Depreciation (Units of production method) =[( cost of Asset - salvage value ) x Annual…

Q: An equipment costs P480,000 and has a salvage value of 10% of its cost at the end of its economic…

A: The straight-line method charges depreciation by an equal amount and if the useful life of an asset…

Q: On August 1, 2015, Hulu Corporation purchased an equipment with an invoice price of Php60,000. Other…

A: Capitalisation of Expense incurred to bring assets for its intended use. Including Purchase cost ,…

Q: purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x (01). It…

A: In sinking fund method of depreciation is based on sinking fund factor and annual depreciation. In…

Q: An engineer for a mining company is called upon to examine a mining property which is for sale and…

A: During the first year, the risky mine will produce $50,000,000 worth of ore.  The ore that is…

Q: Abbott placed into service a flexible manufacturing cell costing $850,000 early this year for…

A: a) Computation of taxable income for the first year:Sales-(Deductible…

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 (01).…

A: It is a method of calculation of depreciation in which a fixed amount is depreciated over the useful…

Q: A machine costing $213,200 with a four-year life and an estimated $18,000 salvage value is installed…

A: please like the answer your response matters Depreciable amount of the machine = Cost - Salvage…

Q: Lavoie Corporation acquired new equipment at a cost of $100,000 plus 7% provincial sales tax and 5%…

A: The Financial Accounting Standards Board (FASB) produced a collection of accounting principles,…

Q: rchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x (01). It…

A: In service output method depreciation there is depreciation based on the hours of use.

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x…

A: Sum of years Digital method: It is the percentage of depreciation for each year and  accelerate the…

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 (01).…

A: Rate of depreciation under double-declining balance method = (1/N)* 100 *2 Where N is the number of…

Q: y a textile plant at a cost of P353,000 and projected to have a useful life of 14 years. At the end…

A: The given problem can be solved using PMT function in excel. PMT function computes equal uniform…

Q: A machine costing $210,000 with a four-year life and an estimated $16,000 salvage value Is Installed…

A: The question is related to Depreciation Accounting. In Straight-line Method of Depreciation the…

Q: Montana Mining Co. pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company…

A:

Q: Power to a remote transmitting station is provided by a Diesel-electriegenerator unit. The original…

A: Original cost of unit =P65000Additional cost=P3000Shipment cost=P2000Expected life=10 yearsSalvage…

Q: Grant Company has acquired a machine and equipment on January 2, 2018. The cost of the machine…

A: Calculation of Depreciation   1. MACHINE Depreciation on Machinery = cost-residual value / useful…

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x…

A: The sum-of-the-years' digits (SYD) approach is a faster way to figure out how much an item is worth.…

Q: Italian Construction Company purchased a new crane for $360,500 at the beginning of year 1.  The…

A: 1(c).   Compute the annual depreciation and carrying value for the new crane for each of the six…

Q: 000 tons. In 2018, the company mined 140,000 tons and sold 130,000 tons. The company uses a FIFO…

A: Depletion Expense: The cost allocation method used for natural resources like mining deposits,…

Q: Determine the total depreciation during the year.Determine the depreciation cost chargeable to each…

A: Given information is: An asphalt and aggregate mixing plant having a capacity of 50 cu.m every hour…

Q: Oki Company pays $283,500 for equipment expected to last four years and have a $30,000 salvage…

A: Any expenditure that increases the performance or life of the equipment should be capitalized (i.e.,…

Q: Mang Juan purchased an equipment for its manufacturing plant that costs PhP 3,750,000 + 10,000(x).…

A: SOLUTION FORMULA- SUM OF YEAR OF DIGIT = n(n+1) / 2.                                             =…

Q: AEC purchased an equipment for its manufacturing plant that costs PHP 3, 750 000 + PHP 10,000 x…

A: In this method the cost is depreciated equally over the number of units produced during the period.

Q: A machine was purchased at an original cost of P3,250,114 with a salvage value of P386,985. The…

A: Depreciation: Depreciation refers to the process of decrease in the value of assets due to…

Q: The Platinum Touch Mining Company paid $4,000,000 for a parcel of land, including the mining rights.…

A: Land cost =4000000 Amount for preparation =564700 Residual value =800000 Total net value…

Q: Bonus Corporation is installing a new machine at its production facility. It has incurred these…

A: Net Purchase price  = Purchase price  - input tax = 2800000-300000 = P2,500000

Q: Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the…

A: Depreciation expense per unit = (Cost of machine - Salvage value) / Total units of production…

Q: SInking Fund Method (i=8%) -book value at the end of the 1st year

A: Depreciation is a charge which is charged on the fixed asset because this depreciation represents…

Q: Abbott placed into service a flexible manufacturing cell costing $820,000 early this year for…

A: Taxable income(profit before tax) is gross income less all expenses i.e. deductible expenses,…