If the replacement cost of the machine on 31st December 2019 was OMR 70,000 and on 31st December 2020 was OMR 100,000, then how much will be the amount of depreciation under CCA at 20% rate of depreciation on 31st December 2020. a. OMR 10,000 b. OMR 3,000 c. OMR 14,000 d. OMR 17,000

Q: Bucker Company purchased a fabrication machine on January 1, 2020 for $55,000. The machine is…

A: The depreciation expense is charged on fixed assets as the reduction in the value of fixed assets…

Q: On 1st Jan 2020 the cost of furniture was OMR 15000 and depreciation is charged at 12% per year.…

A: Depreciation is reduction in the original value of asset every year. This is done to maintain a…

Q: Oriole uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is…

A: Units of production method: Under units-of-production method, depreciation is computed based on the…

Q: 5) Blu Corp. purchased a machine for $2,900 with a $150 salvage value and a capacity of 2,000 hours.…

A: solution given Cost of machine $2900 Salvage value $150 Capacity 2000 hours…

Q: The purchase price of an equipment is $45,000 which is expected to drop to $13,000 after 10 years of…

A: Purchase Price = 45,000 Salvage Value = 13,000 Time Period = 10 years

Q: 15. On January 1, 2020, DAHLIA Company showed land with a carrying amount of P10,000,000 and…

A: The answer for the multiple choice question and the calculation of annual depreciation for 2020 are…

Q: The actual carrying of an asset is R650 000 on 1 Jan 2020. Depreciation for the 2020 Financial year…

A: Revaluation : The accounting method of increasing or decreasing the carrying value of a company's…

Q: The carrying value of equipment was R400 000 on 01 March 2019, the start of the financial year, and…

A: Depreciation is the allocation of cost of asset over the useful life of asset.

Q: Straight-line  (b) Units-of-output  (c) Working hours

A:

Q: On January 1, 2019, Clemente Company purchased a new truck for $14,700. Its estimated useful life is…

A: Formula: Units of Production Depreciation expense = ( Asset cost - Salvage value ) / Total Estimated…

Q: Pharoah Interiors purchased a delivery truck for R$34,000 on January 1, 2020. The truck has an…

A: Depreciation is the allocation of the the total cost of the Assets over the life of the assets

Q: Coronado Interiors purchased a delivery truck for R$33,000 on January 1, 2020. The truck has an…

A: Depreciation can be defined as fall in the asset’s historical value each year. Depreciable amount is…

Q: The carrying value of equipment was R400 000 on 01 March 2019, the start of the financial year, and…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: Colorado Pte Ltd commenced its first non-structural renovation works in accounting year 2017 at the…

A: According to Section 14Q, the maximum capping limit for the consecutively three years is $300,000.…

Q: - A factory machine was purchased for $300,000 on January 1, 2020. It was estimated that it would…

A: Under units of activity method, Yearly Depreciation = (Cost of asset - salvage value)× Units…

Q: Patterson Company provided the following information on January 1, 2020- Vehicle cost Useful life in…

A: Sum of years digit = 5 + 4 + 3 + 2 + 1 = 15   Used life till 2022 = Year 2020 + Year 2021 + Year…

Q: Clifford Delivery Company purchased a new delivery truck for $45,000 on April 1, 2019. The truck is…

A: Since, we answer only upto 3 sub-parts, we shall answer first three. Please resubmit a new question…

Q: Assume a vat of 15 % One way trader is a registered vat vendor and the financial year end is 31…

A: Depreciation represents the reduction in the value of a capital asset over a period of time.

Q: A machine cost $1272000, has annual depreciation of $212000, and has accumulated depreciation of…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period. Example:…

Q: Storm Delivery Company purchased a new delivery truck for $69,000 on April 1, 2019. The truck is…

A: Depreciable cost=Purchase value of truck-Residual value=$69,000-$3,000=$66,000

Q: Compute the total cost of goods sold for 2020.

A: Computation of total cost of goods sold:

Q: Hanan Al Wahaibi is an organization manufacturing a machine tool. Due to increase in demand they…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate…

Q: b) Presented below are selected transactions for Solidago Berhad for 2021. Received RM3,000 scrap…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: A machine which cost $400,000 is acquired on October 1, 2020. Its estimated salvage value is $40,000…

A: The accelerated depreciation method allows a greater amount of depreciation to be charged in the…

Q: The Depreciators Inc purchases and begins using equipment costing $175 on Sept 1, 2020. There was an…

A: Here in this question, we are required to calculate net book value of equipment as of December…

Q: Lightning Delivery Company purchased a new delivery truck for $45,000 on April 1, 2019. The truck is…

A: Sum-of-the-years'-digits method: Workings: Activity method: Double-declining balance method:…

Q: An asset was place in the factory in the beginning of year 2018. It is expected to be used until end…

A: Double declining balance: Under double-declining balance method 200% of depreciation original…

Q: On Jan. 1, 2021, Mother, Inc., whose financial year end is every Dec. 31, purchased a unit of…

A: Solution:- a)Calculation of the depreciation expense for 2021 using the straight line depreciation…

Q: A company purchases an asset for P 10,000.00 and plans to keep it for 20 ars. If the salvage value…

A: Solution: Sum of year of digit for 20 years = 1+ 2 + 3 +........+20 = 210 Useful life remains in…

Q: If the cost of the truck is OMR 30,000 and the annual depreciation expense OMR 2,000. How much will…

A: Book Value = Cost of Truck - Depreciation Expense

Q: Presented below is information related to equipment owned by Vaughn Company at December 31, 2020.…

A: There is no entry required to record the increase in fair value.

Q: An equipment was acquired on December 31, 2016 for P5,000,000 and is expected to have a 10-year…

A: Working  Particulars Amount P Amount P 2017 5,000,000-500,000 4,500,000 2018…

Q: On August 2019, a company purchased an equipment for 33,000 $, which is expected to have ten useful…

A: Declining Balance Method  Depreciation rate = 1 - Salvage valueCostYears Double Declining Method…

Q: Assuming the machine is depreciated using SYD and estimated residual value of P120,000 after its 6…

A: *The depreciation for 2022= Depreciable amount *6/21 = (4646000-120000)*6/21 = 1293143 The…

Q: Presented below is information related to equipment owned by Suarez Company at December 31, 2020.…

A: Calculation of impairment loss recorded in 2020 and carrying amount on Dec 31, 2020: Depreciation…

Q: Assume that Carleton reported the following information regarding a machine at December 31, 2019:…

A: Reduction in the value of the asset due to factors such as technological changes, physical damage to…

Q: a. Calculate the amount of depreciation each year using the straight-line method.…

A: Under Straight Line Method (SLM), a fixed portion of Asset is depreciated every year. Depreciation…

Q: A machine which cost $400,000 is acquired on October 1, 2020. Its estimated salvage value is $40,000…

A: Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income…

Q: Patterson Company provided the following information on January 1, 2020: Vehicle cost Useful life in…

A: Solution: Depreciation expense is recorded at the end of each year on fixed assets for there…

Q: Tradewinds Construction Company had 4 dump trucks, 2 excavators, and other construction machinery…

A: In order to determine the net investment, the depreciation is required to be deducted from the gross…

Q: The cost of equipment purchased by Charleston, Inc., on June 1, 2020, is $89,000. It is estimated…

A: "Hey, since multiple sub parts are posted, we will answer the first three questions alone. If you…

Q: What is the straight line method, Depreciation Expense, accumulation depreciation? What is the umit…

A: Given: Purchase price of Vehicle =$50000Salvage value =$700Estimated useful life =4 yearsEstimated…

Q: the ROS On January 1, 2020 P1,000,000. The useful life is expected to be 10 years. On July 1, 2025,…

A: The wear and tear of an asset during the useful life of an asset is known as depreciation. The…

Q: An asset was acquired on January 1, 2020 for P800,000 and is expected to have a 5-year useful life.…

A: Replacement cost is the cash outlay paid by an organization for the replacement of an old asset. The…

Q: n - Equipment (300,000) Goodwill 30,000 All items of property, plant and equipment are measured…

A: Impairment loss refers to the sum value of money which carrying value or the cash developing unit…

Q: If the company realizes at the start of 2021 that the remaining useful life of the 6-year-old…

A: Depreciation is the demunition in the value of an asset on account of…

Q: Cheers Delivery Company purchased a new delivery truck for $63,000 on April 1, 2019. The truck is…

A: solution : given Date of purchase April 1 2019 Purchase cost $63000 Life 5 years…

Q: Calculate The second year (2021) of depreciation on a computer costing $5,000 purchased in May 2020,…

A: Depreciation is the charge for normal wear and tear expenses along with repairs and maintenance of…

Q: If an asset cost €27,000 and the annual depreciation charge calculated using the straight-line…

A: Every fixed asset loses its value over a period of time. Depreciation is charged to record a…