Book value Find the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used E Recovery period (years) Elapsed time since purchase (years) Data Table Asset A Installed cost 5872.000 5 2 The remaining book value is S. (Round to the nearest dollar.) (Click on the icon located on the top-right corner of the data table below in order to copy its spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* 7 years Recovery year 3 years 5 years 1 33% 20% 14% 2 45% 32% 25% 3 15% 19% 18% 4 7% 12% 12% 12% 9%

Book value Find the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used E Recovery period (years) Elapsed time since purchase (years) Data Table Asset A Installed cost 5872.000 5 2 The remaining book value is S. (Round to the nearest dollar.) (Click on the icon located on the top-right corner of the data table below in order to copy its spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* 7 years Recovery year 3 years 5 years 1 33% 20% 14% 2 45% 32% 25% 3 15% 19% 18% 4 7% 12% 12% 12% 9%

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

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Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?
Comparative Analysis: Under Armour, Inc., versus Columbia Sportswear Refer to the 10-K reports of Under Armour, Inc., and Columbia Sportswear that are available for download from the companion website at CengageBrain.com. Required: With regard to depreciation methods: a. What depreciation method does Under Armour use? What depreciation method does Columbia use? b. What are the typical useful lives of each companys operating assets? c. What effect will the useful lives have on the companys financial statements?
Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense for 2019 if the units-of-production method were used ( Note: Round your answer to the nearest dollar)? a. $179,400 b. $184,000 c. $218,400 d. $224,000
Use the information in Problem A-1 to solve this problem. Assume that the van is five-year property for tax purposes. Required Prepare a schedule of depreciation under MACRS. Round figures to the nearest whole dollar. PROBLEM A-1 A delivery van was bought for 18,000. The estimated life of the van is four years. The trade-in value at the end of four years is estimated to be 2,000. Check Figure Year 3 depreciation, 3,456
Depreciation Methods Sorter Company purchased equipment for 200,000 on January 2, 2019. The equipment has an estimated service life of 8 years and an estimated residual value of 20,000. Required: Compute the depreciation expense for 2019 under each of the following methods: 1. straight-line 2. sum-of-the-years-digits 3. double-declining-balance 4. Next Level What effect does the depreciation of the equipment have on the analysis of rate of return?
Find the book value for the asset shown in the accompanying table, assuming that MACRS depresiing is being used: View the table attached: Asset Installed Cost Recovery Period (Years) Elapsed time since purchase (Years) A $902,000 5 3
onsider the following data on an asset:Cost of the asset, I $235,000Useful life, N 5 yearsSalvage value, S $ 60,000Compute the annual depreciation allowances and theresulting book values, using(a) The straight-line depreciation method.(b) The double-declining-balance method
Consider the following data on an asset:Cost of the asset, I $38.000Useful life. N 6 yearsSalvage value. S $0Compute the annual depreciation allowances and the resulting book values by using the DOB method and then switching to the SL method.
Consider the following data on an asset:Cost of the asset, I $38,000Useful life. N 6 YearsSalvage value. S $0 Compute the annual depreciation allowances and the resulting book values by using the DOB method and then switching to the SL method.
An asset is purchased for P9,000. Its estimated life is 10 years after which it will be sold for P1,000. Find the book value during the first year if sum of the year's digit (SYD) depreciation is used. Formulas: a) Sum of the years = n(n+1)/2, where n is the useful life b) Depreciation Expense = (Remaining life / Sum of the years digits) x (Cost – Salvage value) c) Book Value for the 1st year = cost –depreciation
Calculate the total cost, total depreciation, and annual depreciation (in $) for the following assets by using the straight-line method. (Round your answers to the nearest cent.) Cost ShippingCharges SetupCharges TotalCost SalvageValue EstimatedUseful Life(years) TotalDepreciation AnnualDepreciation $76,300 $1,500 $650 $ $4,500 11 $ $
Engineering Economy Compute the book value of an asset with FC of ₱4 500 000 after 7th year if it has useful life of 13 years and annual depreciation rate of 7%. Use declining balance method. Prepare the depreciation table