Question

Equipment acquired at a cost of $65,000 has an estimated residual value of $4,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31. If necessary, round your answers to the nearest cent. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Depreciation Year 1 $fill in the blank 1 Year 2 $fill in the blank 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method.

Answer #1

Equipment acquired at a cost of $66,000 has an estimated
residual value of $4,000 and an estimated useful life of 10 years.
It was placed in service on April 1 of the current fiscal year,
which ends on December 31. If necessary, round your answers to the
nearest cent. a. Determine the depreciation for the current fiscal
year and for the following fiscal year by the straight-line
method.
b. Determine the depreciation for the current fiscal year and
the following...

Partial-Year Depreciation
Equipment acquired at a cost of $70,000 has an estimated
residual value of $4,000 and an estimated useful life of 10 years.
It was placed in service on October 1 of the current fiscal year,
which ends on December 31.
If necessary, round your answers to the nearest cent.
a. Determine the depreciation for the current fiscal year and
for the following fiscal year by the straight-line method.
Depreciation
Year 1$
Year 2$
b. Determine the depreciation for...

Partial-Year Depreciation
Equipment acquired at a cost of $97,000 has an estimated
residual value of $6,000 and an estimated useful life of 10 years.
It was placed into service on October 1 of the current fiscal year,
which ends on December 31.
If necessary, round your answers to the nearest cent.
a. Determine the depreciation for the current
fiscal year and for the following fiscal year by the straight-line
method.
Depreciation
Year 1
Year 2
b. Determine the depreciation for...

Partial-Year Depreciation
Equipment acquired at a cost of $90,000 has an estimated
residual value of $5,000 and an estimated useful life of 10 years.
It was placed into service on April 1 of the current fiscal year,
which ends on December 31.
If necessary, round your answers to the nearest cent.
a. Determine the depreciation for the current
fiscal year and for the following fiscal year by the straight-line
method.
Depreciation
Year 1
$
Year 2
$
b. Determine the...

Sandblasting equipment acquired at a cost of $105,000 has an
estimated residual value of $6,000 and an estimated useful life of
10 years. It was placed in service on October 1 of the current
fiscal year, which ends on December 31, 20Y5.
a. Determine the depreciation for 20Y5 and for
20Y6 by the straight-line method. Round your answer to the nearest
cent if rounding is required.
20Y5 Depreciation
20Y6 Depreciation
b. Determine the depreciation for 20Y5 and for
20Y6 by...

Question 1:
Sandblasting equipment acquired at a cost of $99,000 has an
estimated residual value of $6,000 and an estimated useful life of
5 years. It was placed in service on April 1 of the current fiscal
year, which ends on December 31. If necessary, round your answers
to the nearest cent.
a. Determine the depreciation for the current fiscal year and
for the following fiscal year by the straight-line method.
Year 1 = ________
Year 2 = 18,600
Question...

Partial-year depreciation
DATA
Cost
$100,000
Estimated residual value
$6,000
Estimated useful life (in years)
8
Placed into service on
May 1
End on the fiscal year
December 31
Using formulas and cell references, perform the required analysis,
and input your answers into the Amounts column. Transfer the
numeric results for the green entry cells (C13:C16) into the
appropriate fields in CNOWv2 for grading.
Amounts
Formulas
a.
Depreciation (Straight-line method), Year 1
Depreciation (Straight-line method), Year 2
b.
Depreciation (DDB method),...

Revision of Depreciation Equipment with a cost of $492,800 has
an estimated residual value of $44,800, has an estimated useful
life of 32 years, and is depreciated by the straight-line method.
a. Determine the amount of the annual depreciation. $fill in the
blank 1 b. Determine the book value after 18 full years of use.
$fill in the blank 2 c. Assuming that at the start of the year 19
the remaining life is estimated to be 19 years and...

Depreciation by Two Methods
Equipment acquired at the beginning of the fiscal year at a cost
of $360,000 has an estimated residual value of $45,000 and an
estimated useful life of 10 years.
a. Determine the amount of annual depreciation
by the straight-line method.
$_____________
b. Determine the amount of depreciation for the
first and second years computed by the double-declining-balance
method.
Depreciation
Year 1
$__________
Year 2
$__________

Depreciation by Two Methods
Equipment acquired at the beginning of the fiscal year at a cost
of $118,800 has an estimated residual value of $7,000 and an
estimated useful life of 10 years.
a. Determine the amount of annual depreciation
by the straight-line method.
$
b. Determine the amount of depreciation for the
first and second years computed by the double-declining-balance
method.

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