Josh bought a huge photocopier machine for 350,000.00 pesos for his new business and will use it for 9 years with a salvage value 85,000.00 pesos. a. How much is the book value on the 4th year if he used sum of the years digit method in computing the depreciation? b. How much is the total depreciation after using the machine for 3 vears?
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- Montezuma Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight 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 $4,000. Determine the depreciation expense for the final three years of the assets life, and create the journal entry for year four.Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for ten years. Montello uses the straight-line depreciation method. Calculate the annual depreciation expense.Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?
- Kenzie purchased a new 3-D printer for $450,000. Although this printer is expected to last for ten years, Kenzie knows the technology will become old quickly and so she plans to replace this printer in three years. At that point, Kenzie believes she will be able to sell the printer for $30,000. Calculate yearly depreciation using the double-declining-balance method.Alfredo Company purchased a new 3-D printer for $900,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become old quickly, and so they plan to replace this printer in three years. At that point, Alfredo believes it will be able to sell the printer for $15,000. Calculate yearly depreciation using the double-declining-balance method.Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for 125,000 miles. Montello uses the units-of-production depreciation method, and in year one it expects to use the truck for 26,000 miles. Calculate the annual depreciation expense.
- Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for 125,000 miles. Montello uses the units-of-production depreciation method, and in year one the company expects the truck to be driven for 26,000 miles; in year two, 30,000 miles; and in year three, 40,000 miles. Consider how the purchase of the truck will impact Montellos depreciation expense each year and what the trucks book value will be each year after depreciation expense is recorded.Josh bought a huge photocopier machine for 350,000.00 pesos for his new business and will use it for 9 years with a salvage value 85,000.00 pesos. a. How much is the book value on the 4th year if he used sum of the years digit method in computing the depreciation?b. How much is the total depreciation after using the machine for 3 years?Josh spent 250,000.00 pesos to buy a set of entertainment system that he will use in his marketing strategy for his new business. The entertainment system set has a depreciation rate of 26% that can be used for eight years. A. How much is the salvage value of the entertainment system set using declining balance method?B. How much is the depreciation for 4th year?
- Ocak Uçan Yağlar Sanayi A.Ş. He bought 6 automatic filling machines and paid a total of 600,000 liras for them. The depreciation life of filling machines is 5 years. In this situation a) If the ordinary depreciation method is applied, what is the depreciation amount to be allocated according to the years? 4. What will be the book value at the end of the year? b) If the rapid depreciation method is applied, what is the depreciation amount to be allocated over the years? 4. What will be the book value at the end of the year?You bought a smartphone at 20,000 Php. At the end of its economic life of four years, its salvage value is Php 2,000. Using Sum of the Years Digit Method of Depreciation, what will be its book value for the third year? Tabulate the annual depreciation and book value.Molly's Mobile Pet Grooming Service recently purchased a cargo van for $25,400. For depreciation purposes, the van is expected to have a useful life of 6 years and have a trade-in value of $5000. Molly uses the sum-of-the-years'-digits method to calculate depreciation.What is the book value at the end of the first year?$What is the accumulated depreciation by the end of the second year?$What is the annual depreciation in the third year?$