If an asset has a first cost of P50,000 with a P10,000 estimated salvage value after 5 years, calculate the annual SL depreciation and tabulate the yearly book value. Please show the solution. Solutions in excel are acceptable.
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If an asset has a first cost of P50,000 with a P10,000 estimated salvage value after 5 years, calculate the annual SL
Please show the solution. Solutions in excel are acceptable.
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- An equipment costs P10,000 with a salvage value of P500 at the end of 10 years. Calculate the annual depreciation by sinking fund method with 42% interest.A molen machine was purchased at 41000 and has an estimated economic life of 5 years with a salvage value of 1000. economic life of 5 years with a salvage value of 1000. Calculate the depreciation expense each year using the Double Declining Balance Method.A machine costs P1,800,000. It has a salvage value of P300,000 at the end of 5 years. If money is worth 6% annually, determine the total depreciation at the 2nd year using declining balance method.
- A certain company make it a policy that for any new equipment the annual depreciation cost should not exceed 10% of the original cost at any time with no salvage value, Determine the length of service life necessary if the depreciation method used is straight line, and SF at 8%An specialized machine has an initial cost of P50,000 and a salvage value of P10,000 after 10 years. What is the book value after five years using straight line depreciation? A. P35,000 B. P30,000 C. P25,000 D. P15,500AN EQUIPMENT WAS PURCHASED FOR P500,000.00. END OF LIFE COST AFTER 25 YEARS IS P100,000.00. FIND THE CUMULATIVE DEPRECIATION FOR THE FIRST 3 YEARS USING STRAIGHT LINE METHOD.
- An asset is purchased for $20,000. Its estimated life is 20 years ,after which is sold for $4000. find the depreciation and book value on the 19th year using SYDM. And the depreciation on the 19th yearPrepare a depreciation table for an asset that was bought at P150,000 and estimated to be useful for a period of 7 years. Estimated salvage value is 10% of its original cost. Money is worth 10% CA. Use Sinking fund method Year Initial book value Depreciation Total depreciation Book value -Year 1 - Initial Book value 150,000Using a spreadsheet, compute the book values of $12,000 asset over a seven year life, with declining balanece depreciation (d=0.25). Also, compute the book values of the $12,000 asset using straight line depreciation, with a scrap value of $2,000 after seven years. Determine the book values.
- Your business buys a delivery van for $28,000. You figure the van will be useful for 5 years and have a value of $5,000 at the end of the 5-year period. What is the (a) basis, (b) useful life, (c) salvage value, (d) depreciable basis, (e) accumulated depreciation at the end of year 2 if you take $4,600 depreciation each year, and (f) the book value at the end of year 2?Show manual solutions and depreciation schedule/table. An equipment costing P250,000 has an estimated life of 15 years with a book value of P30,000 at the end of the period. Compute the depreciation charge and its book value after 10 years using declining balance method.Ans. BV = P60,832.80 d = P9,234.93An electric sewing machine costs P10,000 with a salvage value of P500 at the end of 10 years. Calculate the annual depreciation cost by the sinking fund method at 5% interest.