ISABELA Company has the following equipment acquisitions during the year 2020: April 1, 2020 – Cost of P3,200,000, salvage value of P200,000 and useful life of four years. June 30, 2020 – Cost of P1,350,000, salvage value of P150,000 and useful life of six years October 1, 2020 – Cost of P3,000,000, salvage value of zero and useful life of five years. What is the amount of accumulated depreciation as of December 31, 2021?

Q: Fontaine Ltd. acquired a machine for $600,000 on January 1, 2022. The machine has a salvage value of…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: On January 1, 2020, Shapiro Inc. purchased a machine for $115,000. Shapiro depreciated the machine…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: On July 1, 2020, Youth Corporation purchased a machine at a cost of P300,000. This machine was…

A: Annual depreciation= (cost of the assets  - residual value) / life of the assets = (P300,000-0) / 5…

Q: uary 1, 2019, that originally cost $150,000 is being depreciated on a straight-line basis over an…

A: The Correct Answer is option d.($13,875) Depreciation charged under original life for 2019 and 2020…

Q: ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with 20 years of…

A: Depreciation expense :       The depreciation expense is a charge against the profit of the company,…

Q: Machine A Machine B Machine C Cost 48,000 Useful Life 8 years Cost 70,000 Useful Life 8 years Cost…

A: Depreciation Expenses The purpose of providing the depreciation to the equipment which can be given…

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: 17. On July 1, 2020, Underwood Studios purchased camera equipment for $5,000. The estimated life of…

A: Depreciation rate under double declining = 2 * Straight line method rate Depreciation rate under…

Q: 1. Bruegger Transportation purchased a ship on January 1, 2022, for £20,000,000. The useful life of…

A: The journal Entry for both case are as follows:

Q: Joseph Company purchased equipment on March 31, 2025 for P800,000. The company spent P30,000 for its…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: On Sep 1, 2017 General Assembly (GA) purchased for $980,000 an ANSONIA 7300 wide-corridor stacking…

A: Interest accrued is the amount of interest that has been accrued but not yet received.

Q: Your company purchased an asset with a total cost of $300,000. The asset has an expected useful life…

A: Straight line method , Depreciation expense = ( Cost - Salvage value ) / Useful life

Q: PIKACHU purchased an equipment for P540,000 on January 1, 2020. The equipment has an estimated…

A: Depreciable cost = P540,000 - P60,000 = P480,000 Useful life = 5 years Sum of years of useful life =…

Q: Fontaine Ltd. acquired a machine for $600,000 on January 1, 2022. The machine has a salvage value of…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: Determine the capitalized cost of a research laboratory which requires P5,000,000 for original…

A: First cost (F) = P 5,000,000 Annual cost (A) = P 100,000 for 5 years and P 147,980 afterwards…

Q: ABC Company has equipment acquired on January 1, 2018, at a cost of P2,100,000 with 20 years…

A: 01.01.2018   COST  2100000 USEFUL LIFE 20 YEARS

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

A: Annual depreciation on Equipment= (cost of the assets - residual value) / life of the assets =…

Q: Ford for the company president on June 1, 2020 for $75,000. The automobile is expected to have a…

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

Q: Problem 6 On January 2020, Mina Company paid the national government a fee in the amount of…

A: Solution: As  per given - Total cost = national government fee + development cost + present value of…

Q: 10. Gingerbread Corp purchased a refrigerated truck on January 1, 2019 for $70,000.  The company…

A: Depreciation per year=Cost-Salvage valueUseful life=$70,000-$20,0005=$10,000

Q: Problem 2 The carrying amount of Building C on December 31, 2020 is P8,000,000 and had remaining…

A: The following computations are done for Building C as it is held for sale due to volatility in the…

Q: MC19 The Diane Company has a single investment property acquired on July 1, 2019 for P11,400,000.…

A: Depreciation per annum using the straight line method  = (cost - residual value)/ useful life =…

Q: 56,000, P4,413,000 and P4,240,000 on December 31, 2020; 2021; and 2022. While the fair values are…

A: Revaluation Model In the revaluation model the determination of assets value will be determined by…

Q: QUESTION 20 On, Jan. 1, 2020, ABC Corporation begins using a new welding machine. The capitalized…

A: Depreciation is a method of distributing the cost of a tangible or physical object over its useful…

Q: Oman Flour mills purchased an equipment and it will be depreciated in such a way that the value of…

A: a. Scrap value of the equipment = OMR 20,000*(0.9)^6…

Q: ABC Company purchased a building on January 1, 2018 for P10, 000,000. The building has been…

A: Depreciation is the amount which charged on an equipment for knowing the remaining amount of that…

Q: X Company purchases equipment for $120,000 on January 1, 2020. The equipment is estimated to last…

A: The depreciation expense is the reduction in the book value of the asset due to its use or with the…

Q: Assume that at the beginning of 2020, Porter Airlines purchased a Bombardier Q400 aircraft at a cost…

A: Depreciation as per straight line Method Depreciation= (Cost-salvage value)/useful life =…

Q: e Jessica Company purchased a drilling machine on October 1, 2018 at a cost of P250,000 and…

A: Solution: Firstly we need to compute Book value on Oct 1, 2020 by computing accumulated depreciation…

Q: How much is the decommissioning liability on January 1, 2018?

A: Decommissioning liability on Jan 1, 2018 would be the present value of the restoration cost of the…

Q: 17. Gulf Corp. purchased machinery for $250,000 on May 1, 2019. It is estimated that it will have a…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: Using a MARR of 15%, determine the annual worth of packaging equipment having an initial cost of…

A: Annual Worth(AW) will be determined by taking the equivalent annuity for initial cost of P 830,000…

Q: PIKACHU purchased an equipment for P540,000 on January 1, 2020. The equipment has an estimated…

A: Sum of years' digits of useful life = 1+2+3+4+5 = 15 Depreciation fraction of 2020 = 5/15…

Q: What is the average age of the equipment owned by Jaen?

A: Depreciation under straight line method = (Cost - Salvage value) / useful life Cost of the asset =…

Q: 14.A machine costing P3,750,000 with an eight-year estimated useful life and an estimated residual…

A: Machine cost = P3,750,000 Residual value = P150,000 Depreciable value = Machine cost-Residual value…

Q: DEF Company purchased a building on January 1, 2018 for P10, 000,000. The building has been…

A: An asset will be considered to be impaired i.e., reduced in value when the carrying amount of the…

Q: Nylon have assigned $1.5 million dollars to purchase the asset(s). Nylon's WACC is 8%. Years Asset…

A: Here, WACC = 8% To Find: Payback Period =? NPV =?

Q: 10.) Dagohoy purchased an Equipment costing 100,000 on July 1, 2020. Useful life is 10 years with…

A: Depreciation expense for 2020 = [(100,000 - 10,000) / 10 years] x 6/12 = 4,500   Depreciation…

Q: Required information (The following information applies to the questions displayed below) On January…

A: Depreciation is charged on the asset due to wear and tear, obsolescence, new technology, advanced…

Q: On January 1, 2019, Sapphire Manufacturing Company purchased a machine for $40,000,000. The company…

A: Depreciation is an accounting technique for distributing a tangible or fixed asset's cost over its…

Q: Chuck Company operates an oil platform at the Pacific Ocean. An oil platform was built by the…

A: Annual depreciation= (cost of the assets +  restoration costs - residual value) / life of the assets…

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

A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life…

Q: Depletion On January 2, 2019, Whistler Company purchased land for $530,000, from which it is…

A: Unit Depletion rate per ton = Cost of land+restoration value- selling price/Estimated tons to be…

Q: How much is the revaluation surplus for the period ended December 31, 2022?

A: Any revaluation gain shall be credited to the revaluation surplus account. The additional…

Q: 18. Determine the capitalized cost of a bridge whose cost is P200 Million and its life is 50 years,…

A: Capitalized cost is cost required today the keep and maintain the bridge and also to build so all…

Q: Depletion On January 2, 2019, Whistler Company purchased land for $430,000, from which it is…

A: Depletion expenditure is the cost associated with natural resources (such as oil, fossil fuels, and…