Beckman enterprises purchase a depreciable asset on Oct1, year1 at a cost of 132,000. the asset is expected to have a salvage value of 15,800 at the end of its five-year useful life. if the asset id depreciated on the double-declining- balance method, the assets book value on Dec 31, year 2 will be?

Q: FDN Company acquires a building on April 1, 2021 at a cost of P26,500,000. The building has an…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: Nash Company purchases equipment on January 1, Year 1, at a cost of $480,000. The asset is expected…

A: Under double declining balance method, Depreciation is deducted at the straight line depreciation…

Q: Farmer Company purchased equipment on January 1, Year 1 for $106,000. The equipment is estimated to…

A: Initial straight-line depreciation = (Price - Salvage value) / Useful life = ($106,000 - $15,000) /…

Q: An asset was purchased for $110,000 on January 1, Year 1 and originally estimated to have a useful…

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

Q: Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $148,000. The…

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

Q: black jack company purchased an automotive equipment of june 30, 2018 for 3,000,000. at the date of…

A: Depreciation expense is the charge against income each year for the wear and tear of the equipment…

Q: Lima Enterprises purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be…

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

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

A: Methods of depreciation: Straight-line method Double declining method Sum of years digit method…

Q: Gary V Corporation has Office fixtures with a cost of P170,000 and an estimated salvage value of…

A: Depreciation is the allocation of cost of asset over the useful life of the asset. There are several…

Q: On January 1, Year 1, Hills purchased equipment for $350,000. The equipment had an estimated useful…

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

Q: ops Co. purchases equipment for $12,000 and has been using straight-line depreciation, estimating a…

A: Depreciation per year under straight line method. Cost of the asset - residual value / useful life…

Q: Lyceum of Aparri purchased an asset for P 12,555.00 and plans to keep it for 19 years. If the…

A: Depreciation: A depreciation is a non-cash expenses for the company. The depreciation expenses is…

Q: Lacey Company purchased a depreciable asset for $440,000. The estimated salvage value is $20,000,…

A: Depreciation is the decrease in value of assets due to its obsolete condition ,wear and tear…

Q: Coronado Industries purchased a machine on July 1, 2020, for $960000. The machine has an estimated…

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

Q: On July 1, 2004, Gonzalez Corporation purchased factory equipment for P450,000. Salvage value was…

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

Q: Using the double - declining balance method, depreciation for 2018, and the book value at December…

A:

Q: what will the recorded depreciation for the current year be? $1,250. $1,667. $2,500. $5,000.

A: Given is: Original Cost of Asset = $10000 Useful life = 4 years Residual Value = $0

Q: On August 3,Cinco construction purchased special-purpose equipment at a cost of$9,139,000. The…

A: Step 1 Depreciation is the written down in the value o f the assets.

Q: On August 3, Cinco Construction purchased special-purpose equipment at a cost of $1,000,000. The…

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

Q: Beck man Enterprise purchased a depreciable asset on October 1, Year 1 at the cost of $152,000. The…

A: Depreciation expense refers to the fall in the value of the asset due to passage of time, wear and…

Q: Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $152,000. The…

A: Book value of an asset is the value of asset which is reported on the financial statement of the…

Q: An asset was purchased for $138,000.00 on January 1, Year 1 and originally estimated to have a…

A:

Q: Faithful Company purchased an equipment on January 2, 2021 for P3,000,000. The equipment had an…

A: DDB rate = (2 / Useful life) = 40% Depreciation expense for 2021 = P3,000,000 x 40% = P1,200,000 =…

Q: On January 1, 2015, Indians Corporation bought a factory equipment for 924,000 salvage value was…

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

Q: On January 1, 2015, Minco Coportation purchased, for $100,000, equipment having a useful life of the…

A: Depreciation = Total Cost of Equipment - Salvage ValueUseful life

Q: Wildhorse Co. purchased equipment for $418,800 which was estimated to have a useful life of 10 years…

A: Annual Depreciation  = (Cost of the assets - residual value) / life of the assets =…

Q: An asset is purchased on January 1 at a cost of $25,000. It is expected to be used for four years…

A:

Q: peavey enterprises purchased a depreciable asset for 29,000 on April 1, year 1. The asset will be…

A: Straight-line depreciation seems to be a typical depreciation technique wherein the worth of a fixed…

Q: Pinewood Corporation purchased a piece of equipment for S70,000. It estimated an 8-year life and a…

A: Answer 1) Calculation of Depreciation expense as per Original Estimate Annual depreciation expense =…

Q: Marlow Co. purchased a point of sale system in jan1 for 6,400. This system has a useful life of 5…

A: Depreciation represents the reduction from the asset over a period of useful life.

Q: An asset was purchased for $103,000 on January 1, Year 1 and originally estimated to have a useful…

A: Depreciation is a non-cash expense which is recorded to report the regular wear and tear of an…

Q: Company A bought a building for OMR.73,000, which has the expected useful life of eight years and a…

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

Q: An asset was purchased for $126,000.00 on January 1, Year 1 and originally estimated to have a…

A: Depreciation ( Straight Line Method) = Total Cost of Assets - Salvage Value / No. Of useful life

Q: Peavey Enterprises purchased a depreciable asset for $31,000 on April 1, Year 1. The asset will be…

A: given that, Asset purchased as on 1 April  cost of the asset = $31000 method of depreciation = SLM…

Q: Concord Corporation purchased a piece of equipment for $85,200. It estimated an 5-year life and…

A: Solution: Accumulated depreciation upto 3 years = (85200-2200)*3/5 = $49,800 Book value at the…

Q: On January 1, 2022, the Sheffield Corp. general ledger shows Equipment $25,400 and Accumulated…

A: Book value as on Jan. 1, 2022 = Cost of equipment - Accumulated dep. as on Jan. 1, 2022  Book value…

Q: Ironworks Industries purchased a piece of equipment for $80,000 with an estimated salvage value of…

A: Equipment Cost            = $ 80000 Less: Salvage Value     =($ 15000)…

Q: FDN Company acquires a building on April 1, 2021 at a cost of P52,500,000.  The building has an…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

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: An asset was purchased for $78,000 and originally estimated to have a useful life of 10 years with a…

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

Q: Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $164,0000. The…

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

Q: On August 3, Srini Construction purchased special-purpose equipment at a cost of $1,000,000.The…

A: Depreciation indicates the fall in the historical amount of fixed assets owned by the business due…

Q: On April 1, Cyclone's Co. purchases a trencher for $302,000. The machine is expected to last five…

A: Solution: fraction for first year = Months from 1 April to 31 December = 9 months

Q: An asset was purchased for $115,000 on January 1, Year 1 and originally estimated to have a useful…

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