Hidd copier on April 30, purchases a machine for BD 55,000. The machine is expected to last ten years and have a salvage value of BD 5,000.   Compute depreciation expense for the first year assuming the company uses the straight-line method.

Colquhoun International purchases a warehouse for $301,000. The best estimate of the salvage value at the time of purchase was $16,000, and it is expected to be us for twenty-five years. Colquhoun uses the straight-line depreciation method for all warehouse buildings. After four years of recording depreciation, Colquhoun determir that the warehouse will be useful for only another fifteen years. A. Calculate annual depreciation expense for the first four years. $ 171,000 B. Determine the depreciation expense for the final fifteen years of the asset's life. 11,400 X Feedback V Check My Work When revising deprecation schedules, the book value is used as the adjusting base to apply the new changes to when determine the revised yearly depreciation amount. C. Prepare the journal entry for year five. If an amount box does not require an entry, leave it blank. Depreciation Expense 171,000 X Accumulated Depreciation-Warehouse 171,000

I am using MACRS for depreciation. Purchase date: September 1st Cost: $650,000 Salvage:  $30,000 Life: 7 years What percent do I use to calculate depreciation for years 1-8?

Haresh

Becker Office Service purchased a new computer system on January 1, Year 1, for $36,100. It is expected to have a five-year useful life and a $3,800 salvage value Becker Office Service expects to use the computer system more extensively in the early years of its life. Required a. Calculate the depreciation expense for each of the five years, assuming the use of straight-line depreciation. b. Calculate the depreciation expense for each of the five years, assuming the use of double-declining balance depreciation. d. Assume that Becker Office Service sold the computer system at the end of the fourth year for $20.500 Compute the amount of gain or loss using each depreciation method. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the depreciation expense for each of the five years, assuming the use of straight-line depreciation. Year 1 2 3 4 5 Required D Annual Depreciation Required B >

Montezuma Inc. purchases a delivery truck for $17,600. The truck has a salvage value of $4,000 and is expected to be driven for 8 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 $5,000. A. Determine the Depreciation Expense for the final three years of the asset's life. Round final answer to nearest whole dollar. $1 per year B. Prepare the journal entry for year four. If an amount box does not require an entry, leave it blank. Round final answer to nearest whole dollar. Accumulated Depreciation-Delivery Truck Cash Depreciation Expense Inventory Patent

Billings Corporation purchased a wood pulp mixer for $17,344. Delivery costs totaled $464. The useful is 7 years, and the salvage value is $1,260. Prepare a depreciation schedule using the sum-of-the-years' digits method. Year Total Depreciation ($) x Depreciation Rate Fraction 1 2 3 4 5 6 7 Need Help? $ $ $ $ $ $ $ Read It X X X X X X X Watch It Billings Corporation SYD Depreciation Schedule-Wood Pulp Mixer Master It 7/28 6/28 5/28 4/28 3/28 2/28 1/28 = || || Annual Depreciation ($) Accumulated Depreciation ($) $ $ $ $ $ $ $ $ $ $ $ $ $ $ Book Value ($) $17,808 (new) $ $ $ $ $ $ $

A machine costing $450,000 with a four-year life and an estimated $30,000 salvage value is installed by Lux Company on January 1. The factory estimates the machine will produce 1,050,000 units of product during its life. It actually produces the following units for the first 2 years: year 1, 260,000; year 2, 275,000. What is the depreciation amount for year 2 under the straight line method?

Colquhoun International purchases a warehouse for $332,000. The best estimate of the salvage value at the time of purchase was $17,000, and it is expected to be used for twenty-five years. Colquhoun uses the straight-line depreciation method for all warehouse buildings. After four years of recording depreciation, Colquhoun determines that the warehouse will be useful for only another fifteen years. A. Calculate annual depreciation expense for the first four years. $fill in the blank ae55fc07ff8d04f_1 B. Determine the depreciation expense for the final fifteen years of the asset’s life. $fill in the blank ae55fc07ff8d04f_2 C. Prepare the journal entry for year five. If an amount box does not require an entry, leave it blank.     fill in the blank fill in the blank     fill in the blank fill in the blank

Colquhoun International purchases a warehouse for $338,000. The best estimate of the salvage value at the time of purchase was $13,000, and it is expected to be used for twenty-five years. Colquhoun uses the straight-line depreciation method for all warehouse buildings. After four years of recording depreciation, Colquhoun determines that the warehouse will be useful for only another fifteen years. A. Calculate annual depreciation expense for the first four years. B. Determine the depreciation expense for the final fifteen years of the asset's life. $4 C. Prepare the journal entry for year five. If an amount box does not require an entry, leave it blank. Accumulated Depreciation-Warehouse Cash Depreciation Expense Inventory Patent