Complete using the declining balance method of depreciation (Round to nearest hundredth of a percent) (poperioon Useful Life Yours Straight Line Rate Multiple %/ 921 %/ 150 Multiple / Declining Balance Rate
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- 6. Which depreciation method calculates annual depreciation expense based on the book value of an asset? a. double-declining balanceb. sum-of-the-years'-digitsc. Inventory systemsd. group depreciationFE20 Below details are from Carryit Inc and have approached you to assist with depreciationEquipment Cost $1,055,000Salvage Value $25,000Expected life Years 10Calculate Depreciation as per straight line method, provide necessary journal entry fordepreciation and advise the closing balance of the equipment at the end of year 3.Given this data:B = ₱120,265.00S = ₱19,190.00n = 12 yearsWhat is the SYD depreciation charge D9 during the that year?Answer round off to two decimal places.
- Vorst depreciates Asset A on the double-declining-balance method. How much depreciation expense should Vorst record in 2020 for Asset A? a. 32,000 b. 25,600 c. 14,400 d. 6,4007. On January 1, 2018 an entity purchased for P4,800,000 machine with useful life of ten years on residual ofP200,000. The machine was depreciated by the double declining balance method. The entity changed to thestraight line method on January 1, 2020 and the residual value did not change. What is the accumulateddepreciation on December 31,2020?a. 2,087,000 c. 2.188,000b. 2,112,000 d. 2,015,200Pls reply urgent ASAP Question 1) Calculate the depreciation life (N) If dt =750$,S=2000 $ years and B = 5000$ using the Straight Line Depriciation rule . select one :a. 4 years b. 5 years c. 6 years
- 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 methodQ42 Dhofar LLC acquired an asset on 1st January 2019 for OMR 500,000 and the rate of depreciation is 10%p.a. Under Straight line method. Replacement cost of the asset on 31st December 2019 was OMR 700,000 and on 31st December 2020 was OMR 1,000,000. You are required to calculate for 2020 assuming switch year is made in the current year, the value of Backlog depreciation. a. OMR 50,000 b. None of these are correct c. OMR 85,000 d. OMR 15,0001) The total assets of Best Service is P500,000. Twenty percent (20%) represents the claim of the owner. Its liability, therefore is: a. P100,000 b. P400,000 c. P500,000 d. None 2) The owner’s capital is P50,000. The creditors have 60% claim on the total assets. The correct amount of assets would be: a. P 83,333 b. P 80,000 c. P 30,000 d. P125,000
- Q4 Dhofar LLC acquired an asset on 1st January 2019 for OMR 500,000 and the rate of depreciation is 10%p.a. Under Straight line method. Replacement cost of the asset on 31st December 2019 was OMR 700,000 and on 31st December 2020 was OMR 1,000,000. You are required to calculate for 2020 assuming switch year is made in the current year, the value of additional depreciation. a. OMR 15,000 b. None of these are correct c. OMR 50,000 d. OMR 35,000A): Complete using the declining-balance method of depreciation. Round to the nearest hundredth of a percent when necessary. *chart attached* B):Complete using the units-of-production method of depreciation. Round to the nearest tenth of a cent when necessary. *Chart attached*1. Wilkinson Company changed depreciation methods in 2023 from doubledeclining-balance to straight-line. The accumulated depreciation prior to 2023under double-declining-balance was $90,000, whereas the straight-lineaccumulated depreciation prior to 2023 would have been $50,000. Wilkinson’sdepreciable assets had a cost of $250,000, with a $40,000 residual value and an8-year remaining useful life at the beginning of 2023.Requirements:I. Discuss the appropriate accounting treatment for the above. II. Prepare the 2023 journal entry related to the depreciable assets , ifnecessary. Ignore income tax effects. Show workings