What is the depreciation for 2020 using straight line depreciation?     A. P150,000 B. P101,250 C. P112,500 D. P125,000   What is the carrying amount of the machinery on December 31, 2022 using straight line depreciation?   A. P750,000 B. P817,500 C. P828,750 D. P780,000

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Q: using sum of years’ digits? What is the depreciation for 2020 using sum of years’ digits? What is…

A: 1. Answer: a The gap of 1st April to 31st December in the year 2019 is 9 months; therefore, the…

Q: On December 31, 2020, you are provided with the following information about the PPE of DEF Corp.:…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Oriole Company purchased a delivery truck for $28,000 on January 1, 2020. The truck has an expected…

A: Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the…

Q: Kuya Company uses hand tools in its manufacturing activities. On January 1, 2018, there are 800 of…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: BTL Company purchased a tractor at a cost of $90,000.  The tractor has an estimated salvage value of…

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

Q: Ponderosa Farms purchased some equipment on January 1, 2020 for $12,600. The equipment has an…

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

Q: oyCo acquired equipment on April 1, 2022, at a cost of $90,000 and with an estimated useful life of…

A: Depreciation is the decrease in the value of asset over the useful life of asset. In double…

Q: Easy Company acquired an equipment on January 1, 2020 for P5,000,000. Depreciation is computed using…

A: Depreciation is only an estimate by the organization so such estimates can be made by taking various…

Q: In the 01 July 2016, Samsung Ltd acquired the machine A by $1,502,000. Estimated useful life is 10…

A: GIVEN DATA   In the 01 July 2016, Samsung Ltd acquired the machine A by $1,502,000. Estimated useful…

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: DEPRECIATION: Company L purchased equipment for 150,000 on 1/1/2020. The equipment has a useful life…

A: Depreciation expense: Depreciation expense is the reduction in a particular asset due to its use or…

Q: Amwaj Indstrial Co. purchased an equipment for $720,000 on 1 Jan. 2020. It is estimated that the…

A: Depreciation is the process of reducing the cost systematically over the useful life of the asset.…

Q: Compute depreciation under: (i) straight line method (ii) unit of output (iii) working hours…

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

Q: Bautista Organizers purchased an equipment costing P50,000 on July 1, 2018. The equipment has an…

A: Accumulated depreciation refers to the total deprecation charges till a particular point. This can…

Q: Company E. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment…

A: Accumulated depreciation on 12/31/2022 = Depreciation for 2020 + Depreciation for 2021 +…

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation (Sum Year digits Method)  = Reverse Useful life Digit × (Cost - Salvage Value) / Sum of…

Q: Coachwhip Corporation purchased a machinery on January 1, 2022 for P5,000,000. The same had an…

A: Answer) Calculation of Revaluation Surplus Revaluation Surplus = Fair Value of Equipment on January…

Q: Sheridan Company purchased machinery on January 1, 2020, for $85,600. The machinery is estimated to…

A: Double declining rate = 1/useful life*2 Under double-declining rate, residual value is not…

Q: Winsey Company purchased equipment on January 2, 2019, for $700,000. The equip-ment has the…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: On December 31, 2020, you are provided with the following information about the PPE of DEF Corp.:…

A: Sum-of-the-years'-digits = 1+2+3+4+5+6+7+8+9+10 = 55 years Sum of Life spent in years = 10+9+8 = 27…

Q: N company purchased a compilation system on jan 1, 2019 at a cash cost of $25,000. The estimated…

A: Solution:- Calculation depreciation using double declining balance depreciation method as follows:-…

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation expense is related to the drop in the value of an asset periodically because of the…

Q: Company B purchased equipment for 110,000 on 1/1/2020. The equipment has a useful life of 5 years…

A: Depreciation expense is part of cost of the asset charged as expense in the income statement.…

Q: Concord Company purchased a delivery truck for $29,000 on January 1, 2022. The truck has an expected…

A: Depreciation is charged against the value of fixed assets. It can be calculated by using the…

Q: On October 1, 2020, Saria Company purchased equipment for $13,000 with an estimated useful life of 3…

A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Q: On July 1, 2020, Hale Kennels sells equipment for $80,000. The equipment originally cost $300,000,…

A: Given,  Cost of equipment = $300000 Salvage value = $50000 Useful life = 5 years Annual depreciation…

Q: Birkey Company purchased equipment on January 1, 2020, at a total cost of $99,000. The machinery’s…

A: Depreciation per machine hour under Units of production method = (Cost-salvage value)/ total number…

Q: Bruce Company acquired a machinery on April 1, 2020. Cost                               P 1,200,000…

A: Computation of the Depreciation Expenses using Double Declining Balance method: Formula:…

Q: Robert Sporting Goods Company had purchased some equipment (Q107) on January 1, 2014 for $104 000…

A: •Cost = $104,000 •Salvage value = $8,000 •Depreciable base : 104,000 - 8000 = $96,000

Q: Swifty Corporation purchased a delivery truck for $28,000 on January 1, 2020. The truck has an…

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

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation is charged to record reduction in value of asset over the period of time. SYD is sum of…

Q: n July 1, 2020 Waterway's Greenhouse purchased a new delivery truck for $100,000. Waterway estimates…

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

Q: Lockard Company purchased machinery on January 1, 2020, for $80,000. The machinery is estimated to…

A: (a)  Compute 2020 depreciation expense using the straight-line method. Depreciation expense for the…

Q: Best Buy Company Limited (Best Buy) bought a machine for $400,000 on 1 July 2019. The machine had an…

A:

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation (SYD)  = Reverse Working Life Digit × (Cost of Fixed Assets - Salvage Value ) / Sum of…

Q: Metlock Company purchased machinery on January 1, 2020, for $ 88,000. The machinery is estimated to…

A: Formula: Straight line method Depreciation = ( Cost of Asset - salvage value ) / useful life

Q: Bruce Company acquired a machinery on April 1, 2020. Cost                               P 1,200,000…

A: Useful life = 8 years Sum of years = 8 + 7 + 6 + 5 + 4 + 3 + 2 + 1 = 36

Q: Oklahoma Company purchased a machine on January 1, 2020. The machine had a cost of $520,000 with a…

A:

Q: LILY Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation is known as a decline in the value of tangible assets over their useful life. it is a…

Q: Jayanne Co. acquired an equipment for P4,200,000 in 2017. The policy is straight line depreciation,…

A: Annual depreciation = (Cost - salvage value)/useful life          = (4,200,000 - 200,000)/5…

Q: Bitter Company acquired a machinery on April 1, 2020. Problem 27-9 (ACP) siter Company acquired a…

A: The amount of depreciation in the double-declining balance method changes more depreciation in…

Q: ORCHID Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

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

Q: Netsol Communication purchased equipment on January 1, 2018, for $27,500. Suppose Netsol…

A: Formula: Straight line method = ( Asset cost - Salvage value ) / Useful life

Q: ROSE Company purchased machinery on January 1, 2020. It has an estimated useful life of four years…

A: Depreciation expense is related to the drop in the value of an asset periodically because of the…

Q: Property, plant, and Equipment  Birkey Company purchased equipment on January 1, 2020, at a total…

A: Calculation of depreciation using straight line method: Depreciation = (Cost of Machinery - Salvage…

Q: ABC Company purchased equipment on May 1, 2021 costing $1,000,000. Its estimated salvage value is…

A: Depreciation is charged on assets. It is a non-cash expense. There are several methods to charge…

Q: Oman Cables Co. Purchased a machine for OR45,000 on January 1, 2020 The machine is expected to have…

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