An asset is purchased for Php9,000. Its estimated life is 10 years, after which it will be sold for Php1,000.00. Find the book value during the second year if the sum-of-the- years-digit (SOY) depreciation is used.

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A: Depreciation  A method of allocation of net cost with respect to those periods in which an entity is…

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A: Depreciation (Straight Line Method) = (Cost-Salvage Value) / Useful life Depreciation (Sinking Fund…

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A: Total sum = 5+4+3+2+1 = 15 years Depreciation per sum = (Cost - residual value) / Total sum…

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

Q: A piece of equipment was purchased for $1, 200 and depreciated on a straight-line basis to $140 over…

A: Under the straight-line method of depreciation, the fixed asset is depreciated with an equal amount…

Q: The equipment is worth P56,000 with a salvage value of P15,000 at the end of 5 years. If the…

A: Cost of Equipment 56000 Less: Salvage value 15000 Depreciable value 41000 Estimated life 5…

Q: The cost of equipment is PHP 50857 and the cost of installation is PHP 35878. If the salvage value…

A: Sinking fund method of depreciation In case of sinking fund method of depreciation, a fixed…

Q: A firm is evaluating the acquisition of an asset that costs $68,200 and requires $3,930 in…

A: The annual depreciation is computed as MACRS rate multiplied by asset cost.

Q: A machinery worth BD20,000 has a lifetime of10 years and a salvage value of Rs. 1500. Calculate the…

A: Using the sinking fund method: Accumulated Depreciation=BD 12,584.21272 Book value at the end of…

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Q: You bought a smartphone at 20,000 Php. At the end of its economic life of four years, its salvage…

A:

Q: A company purchases an asset for P10,000.00 and plans to keep it for 20 years. If the salvage value…

A: Asset price = P 10000 Useful life (n) = 20 years Salvage value = 0

Q: A commercial building can be acquired at a downpayment of P 500,000 and a yearly payment of P…

A: Down payment (DP) = P 500,000 Yearly payment (P) = P 100,000 Number of annual payments (n) = 10…

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A: GIVEN     An asset is purchased for P 90,000.   Its estimated life is 10 years after which it will…

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A: The question is related to Depreciation. The details are given as under  Cost of Asset = P500000…

Q: An asset is purchased for P9,000.00. Its estimated economic life is 10 years, after which it will be…

A: Sum Of Year's Digit (SOYD) is an accelerated depreciation method in which depreciation is higher in…

Q: A property is purchased at 1M and is expected to last 10 years with a salvage value of P100,000.…

A: Initial Cost = P 1,000,000 Salvage value = P100,000. Time Period = 10 Years

Q: An asset has a cost of $100,000. It is to be depreciated using 3-year MACRS depreciation rates. The…

A: given, cost of asset = $100,000 depreciation = 3 years MACRS  life of asset = 3 years salvage value…

Q: 1. An equipment costs Php 1,500,000. At the end of its economic life of five years, its salvage…

A: Depreciation is accounted for an asset to take into consideration the loss in the value of the asset…

Q: An asset is purchased for Php50,000. The salvage value in 25 years is Php100,00. What are the…

A: Purchase price = Php 50,000 Salvage value = Php 10,000 Life = 25 Years

Q: An asset with a first cost of $300,000 is depreciated by the MACRS method using a 5-year recovery…

A:

Q: An asset is purchased for P9,000. Its estimated life is 10 years after which it will be sold for…

A: Solution:- Calculation of Depreciation as follows under:-

Q: The cost of an asset is $2,300,000 and has a useful life of 5 years. If the asset can be sold for…

A: Straight line depreciation method is a method of depreciation in which cost of asset is allocated…

Q: An asset costing P50,000 has a life expectancy of 6 years and a estimated salvage value of P8,000.…

A: Depreciation charging method includes: Straight-line method Sum of years digit method Double…

Q: tion line. The equipment cost 50,000 and is expected to last for five years. At the e the equipment…

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Q: A company purchases an asset for P 10,000.00 and plans to keep it for 20 years. If the salvage value…

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Q: an asset was purchased at 480,000. it has an estimated life of10 years, and is sold at 50,000. what…

A: Fixed assets are types of assets held by the business for a longer period. Examples of fixed assets…

Q: The initial cost of a piece of construction equipment is P30,000,000 having a useful life of 10…

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Q: A commercial company plans to buy the device for $ 20,000 and is expected to sell it for $ 8,000 in…

A: Formula: Straight line method depreciation = ( Asset cost - Salvage value ) / Useful life

Q: Pads Corp. is contemplating the purchase of a large stamping machine which will cost Php 500.000.…

A: The question is based on the concept of Depreciation Accounting.

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Q: use Sinking Fund Method and determine the depreciation at the 5th year.

A: Sinking fund method is a method of depreciation technique. This method helps in taking financing…

Q: An asset is purchased for $90,000 with the intention of keeping it for 10 years, but is sold at the…

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

Q: A new boiler was installed by a textile plant at a cost of P3,000,000 and projected to have a useful…

A: Capitalization costs are the costs incurred by the company for acquiring the assets but are…

Q: d its bo

A: (1) Depreciation under Straight Line method Depreciation = (Original cost of equipment - Salvage…

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: A lot was purchased at 4,000,000 Php and a house was built worth 2,000,000. 10years later at the end…

A: Value of land after 5 year is as follows: Resultant table:

Q: A truck was purchased for $58,000 and depreciates $6560 per year. Suppose that the vehicle is…

A:

Q: On January 1, 2016, Pedro Reyes invested PHP250,000 on a delivery van. The car is expected to last…

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Q: Electric generating and transmission equipment is placed in service at a cost of $3,000,000. It is…

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