Bramble Corp. purchased a depreciable asset for $ 726000 on April 1, 2018. The estimated salvage value is $ 72000, and the estimated useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2021 when the asset is sold? $ 266800 $ 403300 $ 308800 $ 361300

Q: On January 2, 2017, Cancer Company purchased transportation equipment costing P2,400,000. The new…

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

Q: On January 1, 2017, Garden Company purchased a new machine for $4,200,000. The new machine has an…

A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear,…

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: Mazaya Company purchased equipment on January 1, 2010, at a total invoice cost ofR.O. 400,000. The…

A: Annual depreciation = ( cost of the assets - residual value) / Life of the assets = (RO 400,000 - RO…

Q: ARON Corp. acquired a machine at a total cost of P5,200,000. The estimated life of the machine is 8…

A: Depreciation per hour = (Cost of the assets - Salvage value) / Total estimated operating machine…

Q: ABC Company purchased an equipment on September 1, 2015 for $230,000. The salvage value of the…

A: Depreciation expense (sum-of-the-years' digits method ) = (Cost of the assets - Salvage…

Q: Sheridan Towing Company purchased a tow truck for $188000 on January 1, 2020. It was originally…

A:

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

Q: Browns company  purchased  equipment  in 2014 for $150000 and estimated  a $10000 salvage value  at…

A: 2. Given: Cost of equipment = $35,000 Overhaul cost = $8,000 Sold machine = $15,000 Accumulated…

Q: Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate…

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

Q: Vaughn Manufacturing purchased a new machine on May 1, 2012 for $566400. At the time of acquisition,…

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

Q: PIKACHU purchased an equipment for 540,000 on January 1, 2020. The equipment has an estimated…

A: The calculation of depreciable cost has been made as follows: Depreciable cost=Purchase…

Q: Swifty Corporation purchased machinery that was installed and ready for use on January 3, 2020, at a…

A: Step 1 Double-declining rate = 2 × Straight-line depreciation rate The double declining balance…

Q: Swifty Corporation bought equipment on January 1, 2021. The equipment cost $351000 and had an…

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

Q: Vaughn Manufacturing purchased a depreciable asset for $1190000. The estimated salvage value is…

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

Q: Frey, Inc. purchased a machine for $600,000 on January 2, 2017. The machine has an estimated useful…

A: The asset balance at Dec 31, 2018 can be calculated as difference of original cost and the…

Q: Crane Company purchased a depreciable asset for $680000 on April 1, 2018. The estimated salvage…

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

Q: On January 2, 2015, ABC Company acquired equipment to be used in its manufacturing operations. The…

A: Under the SYD method, the depreciation rate percentage for each year is calculated as the number of…

Q: Cellphone Company purchased an equipment on January 2, 2017 for P3,000,000. At the date of…

A: Depreciation per year =Cost of the equipment-salvage valueuseful life=3,000,000-06=500,000.…

Q: Goliath Company purchased an equipment on January 2, 2017 for P3,000,000. At the date of…

A: The following computations are done for Goliath Company.

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

Q: Mandu Corp. acquired a machine at a total cost of P5,200,000. The estimated life of the machine is 8…

A: Depreciation rate per hour = (Cost-Salvage value)/Total working hours

Q: Mango Co. owns a machine that was bought on January 1, 2017, for P752,000. The machine was…

A: Depreciation Expenses:- These are those expenses that appear in the income statement of the company,…

Q: Goliath Company purchased an equipment on January 2, 2017 for P3,000,000. At the date of…

A: Straight line is one of easy and common depreciation method used by accountants to calculate the…

Q: PIKACHU purchased an equipment for P540,000 on January 1. 2020. The equipment has an estimated…

A: Fixed assets means the asset which is used by company for many years to come for the purpose of…

Q: Swifty Corporation purchased a machine on July 1, 2020, for $910000. The machine has an estimated…

A: This is the case of 150% declining-balance method in which the depreciation rate is to be computed…

Q: Haemul Pajeon Company purchased a machine on January 2, 2018 for $500,000. The machine has an…

A: The depreciation is a decline in the value of tangible assets over their useful life. it is a…

Q: Ayayai Corp. bought equipment on January 1, 2022. The equipment cost $470000 and had an expected…

A: Depreciable cost of equipment means the total amount of depreciation which will be charged on assets…

Q: Waterway Industries purchased machinery for $905000 on January 1, 2017. Straight-line depreciation…

A: Machinery Purchased as on January 1, 2017 $ 905000 Salvage Value = $ 52000 Useful Life of Machinery…

Q: King Company purchased a machine on July 1, 2018 for P600,000. The machine has an estimated useful…

A: Depreciation means the fall in value of assets because of wear and tear , usage , passage of time or…

Q: Tammy Company purchased a boring machine on January 12018 for P8, 100 000. The useful life of the…

A: Depreciation The purpose of using the Depreciation is to calculate the actual value of the machine…

Q: On October 1, 2020, Saria Company purchased equipment for $13,000 with an estimated useful life of 3…

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

Q: Workman Company purchased a machine on January 2,2017, for $800,000. The machine has an estimated…

A: Accumulated depreciation: The total amount of depreciation expense deducted, from the time asset…

Q: Waterway Industries purchased machinery for $1129000 on January 1, 2017. Straight-line depreciation…

A: Depreciation expense of every year is calculated as follows: Depreciation expense from 2017 to 2020:…

Q: what is the depreciation expense for the year ended December 31, 2021?

A: Formula: Depreciation Expenses= Remaining Useful life of the AssetSum of The Year's…

Q: Sheridan Towing Company purchased a tow truck for $188000 on January 1, 2020. It was originally…

A: Given that the purchase price of the truck = $188000 original salvage value = $36000 original useful…

Q: On January 2, 2017, Cancer Company purchased transportation equipment costing P2,400,000. The new…

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

Q: Haemul Pajeon Company purchased a machine on January 2, 2018 for P500,000. The machine has an…

A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/8 years) x 2 = 25%

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A: Depreciation will be charged for only 8 months of usage in the Year 2030

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A: 1. Depreciation Expenses - Depreciation Expenses are the expense incurred on the wear and tear of…

Q: Shine Corporation bought equipment on April 2, 2017 for P200,000. This equipment had an estimated…

A: Depreciation is an accounting technique for distributing a tangible or physical asset's cost over…

Q: he 150% declining-balance method. For the year ended December 31, 2020, Sheridan should record…

A: The declining balance method is a method of charging the depreciation in which the higher amount of…

Q: January 1, 2014, Bonita Industries purchased equipment at a cost of $361000. The equipment was…

A: The depreciation expense refers to the reduction in the value of assets due to the use of that asset…

Q: Goliath Company purchased an equipment on January 2, 2017 for P3,000,000. At the date of…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: On August 31, 2019, CAMELLIA Company purchased a new machinery for ₱540,000. The machinery has an…

A: A reduction in the value of assets due to usage or passage of time is defined as depreciation. The…

Q: Marcus purchased a equipment which was an depreciable asset for P38,000 on January 1, 2017. The…

A: Depreciation was used to record value of various machineries after its wear and tear where sum of…

Q: Spiral Company uses the sun-of-the years’ digits method to depreciate equipment purchased in January…

A: Solution: Depreciation is a reduction in the value of an asset over time, due to normal wear and…

Q: On July 1, 2021, Hale Kennels sells equipment for $222000. The equipment originally cost $594000,…

A: Annual depreciation = (Cost - salvage value)/useful life            = (594,000 - 109,000)/5…

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…