A property cost P100k with resale value at the end of 7" year of P5k. Determine book value at the end of year 4 using Matheson Method.Select one:a. P18,049.178b. P18,940.178c. P49.018.187d. P45,094.187

Matheson Method-This is also known as constant percentage method. Data given::> Cost of…

Answered: th A property cost P100k with resale…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

See similar textbooks

Similar questions

Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense for 2019 if the units-of-production method were used ( Note: Round your answer to the nearest dollar)? a. $179,400 b. $184,000 c. $218,400 d. $224,000
Using the sum-of-the-years-digits method, how much depreciation expense should Vorst record in 2020 for Asset B? a. 6,000 b. 9,000 c. 11,000 d. 12,000
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?
Use the information in Problem A-1 to solve this problem. Assume that the van is five-year property for tax purposes. Required Prepare a schedule of depreciation under MACRS. Round figures to the nearest whole dollar. PROBLEM A-1 A delivery van was bought for 18,000. The estimated life of the van is four years. The trade-in value at the end of four years is estimated to be 2,000. Check Figure Year 3 depreciation, 3,456
Using the following information: A. make the December 31 adjusting journal entry for depreciation B. determine the net book value (NBV) of the asset on December 31 Cost of asset, $250,000 Accumulated depreciation, beginning of year, $80,000 Current year depreciation, $25,000
Given: Buy office building for $3,600,000 on October 28. Land value represents 30% of the purchase price. Calculate MACRS depreciation for year 1, using the alternative 40-year life.
Consider the following data on an asset:Cost of the asset, I $38.000Useful life. N 6 yearsSalvage value. S $0Compute the annual depreciation allowances and the resulting book values by using the DOB method and then switching to the SL method.
A table was purchased for RO 1200 and the depreciation is computed at the rate of 15%. What is the book value at the end of second year by using Written down value method? a. RO 1020 b. RO 867 c. RO 180 d. RO 153
On 1st Jan 2020 the cost of furniture was OMR 15000 and depreciation is charged at 12% per year. Calculate the amount of depreciation Select one: a. 12% b. None Of These c. 1800 OMR d. 13200 OMR
A 7 year property class asset was purchased for $115,000. The owner took depreciation charges using MACRS each year. The asset was sold at a market value of $122,200 at the end of the third year. The book value at the end of the third year? i. $70,400 ii. $65,087 iii. $50,290 iv. $43,446 v. $35,900 Please use excel and show formulas.
An asset is purchased for P9,000. Its estimated life is 10 years after which it will be sold for P1,000. Find the book value during the first year if sum of the year's digit (SYD) depreciation is used. Formulas: a) Sum of the years = n(n+1)/2, where n is the useful life b) Depreciation Expense = (Remaining life / Sum of the years digits) x (Cost – Salvage value) c) Book Value for the 1st year = cost –depreciation
1. A VEHICLE IS PURCHASED FOR 30,000 AND SOLD ON 03/1/X+2: REQUESTED: a) Calculate the VNC of the good on 12/31/Xb) Calculate the VNC of the asset on 12/31/X+1c) If the sale price is €10,000, ON DAY 7/1/X ITS USEFUL LIFE IS 5 YEARS AND IT IS, indicate the profit or loss

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

SWFT Comprehensive Vol 2020

Accounting

ISBN:

9780357391723

Author:

Maloney

Publisher:

Cengage

SWFT Comprehensive Volume 2019

Accounting

ISBN:

9780357233306

Author:

Maloney

Publisher:

Cengage

SWFT Essntl Tax Individ/Bus Entities 2020

Accounting

ISBN:

9780357391266

Author:

Nellen

Publisher:

Cengage

SEE MORE TEXTBOOKS

th A property cost P100k with resale value at the end of 7" year of P5k. Determine book value at the end of year 4 using Matheson Method. Select one: a. P18,049.178 b. P18,940.178 c. P49.018.187 d. P45,094.187