Fahad Express LLC is planning to buy a vehicle for its courier business. The cost of the Vehicle is RO 16000 and the useful life is 5 years. The vehicle was depreciated using Sum of Years digit method. The balance shown in the accumulated depreciation account at the end of third year is a. RO 14667 b. RO 17333 c. RO 10667 d. RO 53333
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- Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for 125,000 miles. Montello uses the units-of-production depreciation method, and in year one it expects to use the truck for 26,000 miles. Calculate the annual depreciation expense.Montezuma Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montezuma uses the straight-line depreciation method. Calculate the annual depreciation expense. After three years of recording depreciation, Montezuma determines that the delivery truck will only be useful for another three years and that the salvage value will increase to $4,000. Determine the depreciation expense for the final three years of the assets life, and create the journal entry for year four.Fahad Express LLC is planning to buy a vehicle for its courier business. The cost of the Vehicle is RO 16000 and the useful life is 5 years. The vehicle was depreciated using Sum of Years digit method. The balance shown in the accumulated depreciation account at the end of third year isa.RO 14667b.RO 10667c.RO 17333d.RO 53333
- Mohr Company purchases a machine at the beginning of the year at a cost of $24,000. The machine is depreciated using the double-declining-balance method. The machine’s useful life is estimated to be 5 years with a $4,000 salvage value. The machine’s book value at the end of year 2 is: A. $12,000. B. $7,200. C. $9,600. D. $8,640. E. $14,400.Explore Incorporated is a new start-up specializing in renting camper vans. On January 1, Year 1, the company purchased a new camper van with a total cost of $82,000. The company estimates that the van will have a 10-year useful life and a salvage value of $10,000. The company has elected to depreciate the van using the double-declining-balance method. Required: a. Determine the amount of depreciation expense to be recognized on the van at the end of Year 1? b. Determine the amount of accumulated depreciation at the end of Year 2. a Depreciation at the end of Year 1 b. Accumulated depreciationMarlow Co. purchased a point of sale system in jan1 for 6,400. This system has a useful life of 5 years and a salvage value of 900. what would be the depreciation expense for the second year of its useful life using the double declining balance method
- Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for 120,000 miles. Montello uses the units-of-production depreciation method and in year one it expects to use the truck for 13,000 miles. A. Calculate the year one depreciation expense. _______________ B. What is the year one book value? __________________ Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montello uses the double-declining-balance depreciation method. C. Calculate the year one depreciation expense. _____________ D. What is the year one book value? _____________Carla Vista Products purchased a machine for $66400 on July 1, 2025. The company intends to depreciate it over 8 years using the double-declining balance method. The salvage value is $6700. Depreciation for 2026 to the closest dollar is $8300. O $33200. O $14525. $13200.On January 1, Year 1, Pearson Moving Company paid $41187 cash to purchase a truck. The truck was expected to have a five year useful life and an $2259 salvage value If Pearson uses the straight-line method, the amount of accumulated depreciation recognized on the Yoar 2 balance sheet is $
- computer equipmenr was purchased 5 years ago for 170,000 with an estimated life of 8 years and a residual value of 10,000. the company used straigh line depreciaton. a. compute the balance of accumlated depreciationas of the end of 5 years. b.if the equipment is 45,000 cash at the end of 5 years. Journalize the sale of the equipment.Planter Company purchased a delivery van for $30,000 on January 1. The van has an estimated 5-year life with a residual value of $5,000. What would the depreciation expense forthis van be in the first year if Planter uses the straight-line method?a. $5,000b. $6,000c. $25,000d. $30,000A. Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montello uses the straight-line depreciation method. Calculate the annual depreciation expense. $1,500 What is the year one book value? B. Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for 120,000 miles. Montello uses the units-of- production depreciation method and in year one it expects to use the truck for 13,000 miles. Calculate the year one depreciation expense. What is the year one book value? C. Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montello uses the double - declining - balance depreciation method. Calculate the year one depreciation expense. What is the year one book value?