type! For the following costs, identify the type of cost. Remember, costs may be of more than one Fixed Variable Recurring Non-Recurring Book Cash Cost Utility bill Land purchase to build a new facility Depreciation Regularly scheduled maintenance
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- Initial Outlay = Cost of Asset + Installation charges + Opportunity costs of any Existing asset + any working capital required – proceeds from selling an existing asset Tax Effects The above formula was given by our tutor to calculate this. How would you treat the costs using this formaula?Which one of the following is the proper dollar value of existing equipment to use in replacement analysis? A. Original cost B. Present market value if sold C. Present trade-in value D. Present book value E. Present market value if sold minus removal and selling expensesWhat is the systematic periodic transfer of the cost of a fixed asset to an expense account during its expected useful life called (also thought of as the decline in usefulness of the fixed asset over time)? Group of answer choices fixing costing amortization depreciation
- For each of the following problems, (a) draw the cash flow diagram; (b) present clean and clear manual solutions to the problem; (c) highlight the final answer (only the final answer as required by the problem) by enclosing it within a box. A project for a specialized product estimated to have a short market life has the following information. Use the PW method to determine the minimum amount of equivalent uniform annual revenue required to justify the project economically. First cost: $1,200,000 Cost of depreciable property: $500,000 Property class of depreciable property: GDS 3 years Annual O&M costs: %600,000 on the first year, increasing at a rate of 5% per year thereafter Selling price of depreciable property at the end of 3 years: $300,000 Income tax rate: 35% MARR after taxes: 30% No excelAssume that the capital expenditures to replace and upgrade the production equipment areas given in the original exercise, but that the production and sales quantity is not known. Forwhat production and sales quantity would SS (i) upgrade the equipment or (ii) replace the equipment?A characteristic of the payback method is that it: (See your Chapter 25 notes, page 9) Uses accrual accounting inflows in the numerator of the calculation Uses the estimated expected useful life of the asset in the denominator of the calculation Incorporates cash flows received after the payback period has been reached Is based on accounting income Incorporates the time value of money Ignores total project profitability
- Why is depreciation expense recognized? Select one: a. To provide a better estimate of the market value of the depreciated assets. b. So that the balance sheet value of plant assets will more accurately reflect the replacement cost of the assets. c. To ensure that cash will be available at the end of the assets' useful life in order to replace it. d. To match the cost of the asset against the revenue using a reasonable allocation. method. Save AnswersNextResidual value is: A. Also called residual value.B. Also called scrap value.C. An estimate of the asset's value at the end of its benefit period.D. A factor relevant to determining depreciation.E. All of these.Present value of decommissioning and restoration costs are capitalized as PPE and with a corresponding credit to what account?
- The economic service life of a project is best described as _____________________? a. Another term for the analysis period of a benefit-cost analysis.b. The number of years for which depreciation is on-going for an asset.c. The present worth of the project after taxes.d. The amount of time (usually in years) that an asset should be used to achieve thesmallest annual cost of operation.Decommissioning and restoration costs should be initially capitalized at: historical cost present value carrying value market priceWhich of the following statements if not true? a. Depreciation is the process of allocating the purchase price of an asset minues its residual value to expense, for each period benefited by the asset. b. The cost of an asset includes all acquisition costs necessary to obtain the benefits to be derived from the asset. c. The service life of an asset is the measure of the number of years of service expected from the asset before its disposal. d. The residual value of an asset is the difference between the expected book value of the asset at the end of its service and the cost of disposal.