An asset was purchased six years ago at a cost of ₱7,000. It was estimated to have a useful life of ten years with a salvage value of ₱300 at the end of the time. It is now of no future use and can be sold for only ₱800. Determine the sunk cost if the depreciation has been computed by SYD.

Q: Swifty Corporation purchased a depreciable asset for $359100. The estimated salvage value is $33500,…

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

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

A: Depreciation is the amount decrease in value of fixed assets with period of time and usage.

Q: g the declining balance method, determine the depreciation charged for 2004 and the book value at…

A: a. Sum of year digit method:

Q: Equipment costing $78000 with a salvage value of $18000 and an estimated life of 8 years has been…

A: Depreciation as per straight-line method = (Cost - salvage value)/Useful life

Q: An equipment worth Php 350000 has an anticipated salvage value of Php (15000x8) at the end of its…

A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/5 years) x 2 = 40%

Q: The cost of the building is OMR 20,000. The salvage value OMR 2,000. Estimated useful life of the…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: what will the Depreciation Expense be for the second year if the straight-line method is used

A: Given information is: French Confection, Inc., bought machinery at a cost of $83,000 at the…

Q: Lance 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: Under MACRS, an asset which originally cost R100,000, incurred installation costs of R10,000, and…

A: Given, Meaning of Depreciation expense :- It's the  asset cost which has been decreased or…

Q: An asset was purchased for $77,000 and originally estimated to have a useful life of 10 years with a…

A: Answer a) Computation of depreciation as per Straight line method is = (Cost of an asset - Residual…

Q: A machine was purchased at an amount of 8 million dinars for the construction works, noting that the…

A: Straight-Line depreciation method :  = (Value of the asset - Salvage value) / No of useful life…

Q: A company has purchases a new machine for S7,500, and the machine is expected to have a residual…

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

Q: An asset was purchased six years ago at a cost of P7,000. It was estimated to have a useful life of…

A: Given that: Original cost = P7000 Salvage Value = 300

Q: A central air conditioning unit was installed on January 1, 2000 at an initial cost of P650,000 and…

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

Q: A piece of machinery costs P50,000 and has an anticipated P8,000 salvage value at the end of its…

A: Depreciation is a gradual decrease in the value of asset due to normal wear and tear, obsolescence…

Q: The machine bought at a price of Php 480,000 has an economic life of 5 years and a salvage value of…

A:

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 depreciable property costing P2,600,000 with original scrap value of P200,000 after 15 years, had…

A: Here discuss about the details of the annual depreciation expenses which are incurred after the…

Q: A plant asset was purchased for P19,000 on January 1, 2011 with a residual value and useful life of…

A: In case of change in accounting estimates, the impact should be recorded prospectively. The total…

Q: In June 2023, Plane Company exchanged an old packaging machine, which had a cost ofP1,200,000 and…

A: Cost of old packaging machine= P1,200,000  Depreciation= 50% Market value of the old packaging…

Q: A new barcode reading device has an installed cost basis of $20,670and an estimated service life of…

A: Double declining balance method is a method which is used to determine the value of depreciation…

Q: An asset was purchased on May 1, 2000. The asset had a cost of Php54,000, a salvage value of…

A: Cost of asset  = purchase cost + delivery and installation  = 54000+31500 = Php85500

Q: The purchased price of the equipment is P12,000 and its estimated maintenance costs are P500 for the…

A: The question is based on the calculation of the present equivalent capitalized cost, the equivalent…

Q: An asset was purchased three years ago at a cost of P5,000. It was estimated to have a useful life…

A: Straight-line method- Depreciation expense remains constant in this method throughout an asset's…

Q: each

A: Annual depreciation = P123,000 / 3 years = P41,000   Earnings before Depreciation Year 1 P49,120…

Q: A new engine was installed by a textile plant at a cost of 398,000 and projected to have a useful…

A: Capitalised cost is the net cost in present value terms. First cost = 398000 useful life = 14 years…

Q: A piece of earth-moving equipment was purchased at a cash price of P25,000. The life of this…

A: Annual depreciation (A) = (FC - SV) * (i) / (1+i) ^n - 1 Where, FC = price of equipment SV = salvage…

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: Colvin Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $100,000. The…

A: Calculate the year 1 depreciation for 3 months as follows: Year 1 depreciation = 2*(Book value of…

Q: An item's initial cost is P 800,000, and its market worth after 5 years is P 507,630. Determine the…

A:

Q: Martinez Company constructed a building at a cost of $2,464,000 and occupied it beginning in January…

A: Depreciation is the loss in the value of the asset caused due to its usage, wear and tear.There are…

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: An asset was purchased for $58,000 and originally estimated to have a useful life of 10 years with a…

A: Depreciation is charged to allocate the value of asset over the useful life of the asset. Under…

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 a new machine is purchased for OMR 250,000 that has a useful life of 5 years with no residual…

A: Annual depreciation=Purchase valueUseful life=OMR 250,0005=OMR 50,000

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

A: Depreciation rate (MACRS 5-year period): Year Depreciation rate 1 20.00% 2 32.00% 3 19.20%…

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

Q: The double-declining-balance method is to be used for an asset with a cost of S88,000, an estimated…

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

Q: A central air conditioning unit was installed on January 1, 2000 at an initial cost of P650,000 and…

A: Depreciation is the decrease in value of fixed asset with time due to wear and tear.

Q: XYZ Inc. has purchased a piece of equipment for $26,000. The equipment will be depreciated…

A: Formulas: Depreciation = (Cost of equipment - salvage value) / life

Q: Swifty Corporation purchased a depreciable asset for $371000. The estimated salvage value is $26000,…

A: The different methods for computing depreciation are straight line method of depreciation, double…

Q: The M&M Company purchased a new punchpress in 2005 at a cost of $265,000. M&M alsopaid…

A: The formula of cost basis=Cost of assets+Shipping and delivery cost+Insatallation charges+Other cost

Q: An asset was purchased six years ago at a cost of P7,000. It was estimated to have a useful life of…

A: Sunk cost is the expense which had been incurred but not recovered yet. Cost of equipment or lease…

Q: A machine was purchased for $68,000. It has a useful life of 5 years and a residual value of $8,000.…

A: Annual depreciation (Straightline) = (Original cost - Residual value) / Useful life