An asset was purchased on May 1, 2000. The asset had a cost of Php54,000, a salvage value of Php4,500, and an estimated useful life of 12 years. An additional Php31,500 was paid for the delivery and installation of the asset. The straight-line method of depreciation is being used. What is the accumulated depreciation on this asset on December 31, 2000?

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A: Depreciation base of the asset = Cost - Salvage value

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A: a. Sum of year digit method:

Q: depreciation expense on this asset

A: Depreciation expense = (Cost - Savage value) * Hours used in current year/Estimated useful life in…

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A: Value of depreciable asset =$22000 Salvage value = $2000 Life of asset = 4 Years

Q: A plant asset was purchased on January 1 for $20,000 with an estimated salvage value of $4000 at the…

A: DEPRECIATION UNDER STRAIGHT LINE METHOD = (COST OF ASSET - SALVAGE VALUE) / USEFUL LIFE OF ASSET…

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

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A: The depreciation is the decrease in value of an asset with the usage each and every year.

Q: ABC Company purchased a tooling machine on January 3, 2000 for P500,000. The machine was being…

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

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

A:

Q: Company bought a new equipment for  P800,000. The equipment has an estimated salvage value of…

A: Solution Depreciation is the reduction of the recorded cost of a fixed asset in a systematic manner…

Q: On January 1, 1978, the purchasing engineer of a cement company purchased a new machine at a cost of…

A: Depreciation: It is the gradual decrease in the value of the asset due to its normal usage in the…

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A: Purchase cost= $109000 Useful life= 5 yrs Salvage value=$21000 Depreciation under Straight line…

Q: NUBD Co. had a machine with an original cost of P95,000 and an estimated salvage value of 5,000.  It…

A: Annual Depreciation on old machine = (Cost of the assets - Salvage value) / life of the assets =…

Q: Equipment was purchased for RM157,000 and there was a cost of RM20,000 for building a foundation and…

A: It's simplest method of charging depreciation on an asset. Depreciation is charged on cost of asset.…

Q: A plant asset was purchased on January 1 for $75,000 with an estimated salvage value of $15,000 at…

A: Depreciation as per straight line method  = (Cost - residual value) /usefullife

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A: Depreciation can be defined as the decline in the value of asset due to its usage in the business…

Q: Maroon V Inc. purchased equipment for new highway construction in New York St., Tondo, Manila,…

A: Depreciation rate refers to the rate at which an asset depreciates yearly during the period of its…

Q: Marissa's company recently purchased a depreciable asset for $190,000. The estimated salvage value…

A: Depreciation is an outlay reported in the books of a business entity to report the regular usage of…

Q: A building was purchased on January 1, 1998, for $240,000 and straight line depreciation method was…

A: Given the following information: Building was purchased on January 1, 1998, for $240,000 Straight…

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A: Purchase Value= Php 5,000 Scrap Value= Php 200 Estimated useful life= 7 years

Q: A machine was installed at a cost of RM3,600. Its useful life was estimated to be five years or…

A: Depreciation (Straight line method) = (Cost of the assets - Salvage value) / Life of the assets =…

Q: Concord Corporation purchased a depreciable asset for $ 553000. The estimated salvage value is $…

A: Depreciation refers to a decline in the value of a fixed asset over its useful life. The activity…

Q: truck costing $20,000 was purchased on January 1, 2004. It was depreciated using the straight-line…

A: Answer -    Straight Line Depreciation Uniform depreciation of an asset's value Home › Resources ›…

Q: A firm bought a machine for P56, 000. Other expenses including installation amounted to P4, 000. The…

A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Q: An item of equipment acquired on January 1, at a cost of RM100,000, has an estimated use of 50,000…

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

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: A piece of Machine acquired on January 03, 2001 at cost of RS. 25,000, has an estimated useful life…

A: Depreciation means fall in value of assets because of use of assets , passage of time or change in…

Q: Company D recently purchased an equipment that costs $50,000, has a life of 4 years and a salvage…

A: In this we need to find out depreciation based on the number of units.

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: On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of $65,000.…

A: Depreciation is the amount of reduction in the value of an asset due to normal wear & tear,…

Q: A company used straight-line depreciation for equipment that cost $12,000, had a salvage value of…

A: Solution - Depreciation= (value of assets - residual value)/No. Of years of useful life (As per…

Q: The Apex Company purchased a tooling machine for $30,000. The machine was being depreciated on the…

A: Under the straight line method, depreciation expense each year = (cost - salvage value) / useful…

Q: ABC Company finds its records are incomplete concerning a piece of equipment used in its plant.…

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

Q: TVM Consulting bought new building for its headquarters in the year 2000. The purchase cost was…

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

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A: Depreciation is the gradual conversion of the cost of a  fixed asset into expense. It is a charge…

Q: An asset that had a first cost of $80,000 was depreciated according to the MACRS method over a…

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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: i. Calculate the yearly depreciation for a machine that has an expected useful life of 10 years. The…

A: As posted multiple independent questions we are answering only first question kindly repost the…

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

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A: Annual depreciation = Monthly depreciation x 12 months = 3700*12 = $44,400

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A: The following calculations are done to evaluate the depreciation expense incurred for the 2nd year…

Q: A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage…

A: Given the following information: Method of depreciation: Straight line method Useful life of…

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Q: An ice machine was purchased for Php400,000 with a residual value of Php75,000 and a life of 2,500…

A: Depreciation is an accounting method where the entities assets over the period of time had wear and…