If an asset cost £27,000 with no scrap value, and the annual depreciation charge calculated using the straight-line method is £6,750 per annum, then depreciation is being charged at the rate of(SLM depreciation rate)?
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If an asset cost £27,000 with no scrap value, and the annual
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- At the end of the expected useful life of a depreciable asset with an estimated 15% residual value, the accumulated depreciation would equal the original cost of the asset under which of the following depreciation methods?A depreciable asset has a cost of P120,000, estimated useful life of 8 years, and an estimated residual value of P20,000.1. What is the depreciation rate if you are using the straight line method?2. What is the depreciation rate if you are using 150% declining balance method?3. What is the depreciation rate if you are using double declining balance method?Note: For nos. 1 to 3, the rate must be rounded off to two decimal places. Ex: 10.00%, 12.30%, 15.55%4. What is the depreciation rate if you are using the declining balance method?Note: For no. 4, the rate must be rounded off to 6 decimal places. Ex: 10.123456%5. Using SYD method, what is the depreciation expense for the 1st year?6. Using SYD method, what is the carrying amount at the end of the 6th year?7. Using double declining balance method, what is the carrying amount at the end of the 3rd year? Subparts 6-7onlyA depreciable asset has a cost of P120,000, estimated useful life of 8 years, and an estimated residual value of P20,000.1. What is the depreciation rate if you are using the straight line method?2. What is the depreciation rate if you are using 150% declining balance method?3. What is the depreciation rate if you are using double declining balance method?Note: For nos. 1 to 3, the rate must be rounded off to two decimal places. Ex: 10.00%, 12.30%, 15.55%4. What is the depreciation rate if you are using the declining balance method?Note: For no. 4, the rate must be rounded off to 6 decimal places. Ex: 10.123456%5. Using SYD method, what is the depreciation expense for the 1st year?6. Using SYD method, what is the carrying amount at the end of the 6th year?7. Using double declining balance method, what is the carrying amount at the end of the 3rd year?
- Suppose that Petrobras assumes a zero-salvage value for their "Equipment and other assets." For each $100 in new asset investments, what is the annual amount of depreciation expense charged to the income statement?A piece of machinery costs P50,000 and has an anticipated P8,000 salvage value at the end of its six-year depreciable life. Using straight line method, what is the annual cost of depreciation?A fixed asset with a cost of 30,000 in accumulated depreciation of 28,500 is sold for 3500 what is the amount of the gain and or the loss and disposal of the fixed asset? 
- The equipment is worth P56,000 with a salvage value of P15,000 at the end of 5 years. If the depreciation cost on the first year is P12,992. What method of depreciation is used?An asset which costs $25,000 and has accumulated depreciation of $6,000 is sold for $11,000. What amount of gain or loss will be recognized when the asset is sold? a. A gain of $14,000 b. A loss of $14,000 c. A gain of $8,000 d. A loss of $8,000Consider an asset that costs $1,156,294 and is depreciated straight-line to zero over its 10-year tax life. The asset is to be used in a 3-year project; at the end of the project, the asset can be sold for $214,463. If the relevant tax rate is 0.24, what is the aftertax cash flow from the sale of this asset (SVNOT)?
- The actual carrying of an asset is R650 000 on 1 Jan 2020. Depreciation for the 2020 Financial year amounts to R50 000. The historical carrying amount on 1 January 2020 amounts to R400 000 and the historical depreciation for the 2020 Financial year is R15 000. On 31 December 2020 the asset has a FV of R750 000. What is the amount that will be transferred from the revaluation reserve to retained earning ?A depreciable property costing P1,400,000 with original residual value of P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus? Please answer it complete using good accounting form. Thank youGiven a cost of a depreciable fixed asset of $24,000 with a salvage value of $2,000 and a life of 5 years, what is the annual depreciation of the fixed asset using the straight-line method? What would be the depreciation in the second year if it used the declining balance method at double the straight-line rate? In regards to question #1, if the company used the straight-line method and sold the asset after 4 years for $7,000, what would be the journal entry needed to record the transaction? What if they sold it for $5,000?
