Question

A machine costs 30000 and it is estimated that it will be used for for 6...

A machine costs 30000 and it is estimated that it will be used for for 6 years.The estimated salvage value is 6,000 for this purchase. If the straight line depreciation is used, what will the remaining book value balance at the end of year 4? (Note: Find Bn remaining balance after calculating the annual deprecation allowance)

Select one:

a. 8000

b. 16000

c. 11000

d. 14400

e. 10000

f. 14000

Homework Answers

Answer #1

Book value at the end of year 4 after calculating annual depreciation allowance = 14,000

Option : f is correct.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life...
Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,000 salvage value.    Required: 1. Compute the machine’s book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given...
Apex Fitness Club uses straight-line depreciation for a machine costing $26,700, with an estimated four-year life...
Apex Fitness Club uses straight-line depreciation for a machine costing $26,700, with an estimated four-year life and a $2,850 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,400 salvage value. Required: 1. Compute the machine’s book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the...
ABC Co. acquired a new machine that cost $84,000 in early 2016. The machine is expected...
ABC Co. acquired a new machine that cost $84,000 in early 2016. The machine is expected to have a five year useful life and is estimated to have a salvage value of $14000 at the end of the its life. A) using the straight-line depreciation method, calculate the depreciation to be recognized in the seconf year of the machine's life and calculate the accumulated depreication after the 3rd year. B) Using the double-devlinging-balance depreciation method, calculate the dep. expense for...
A surface mount placement machine is being purchased for $1631000; it has an estimated useful life...
A surface mount placement machine is being purchased for $1631000; it has an estimated useful life of 8 years and a salvage value of $63800 at that time. Determine the depreciation allowance for the 5th year and the book value at the end of the 5th year using Declining Balance where the depreciation rate is determined by the salvage value and time in service. what is the depreciation rate?  % d5 = $   B5 = $
A surface mount placement machine is being purchased for $1465000; it has an estimated useful life...
A surface mount placement machine is being purchased for $1465000; it has an estimated useful life of 8 years and a salvage value of $90400 at that time. Determine the depreciation allowance for the 5th year and the book value at the end of the 5th year using Declining Balance where the depreciation rate is determined by the salvage value and time in service. what is the depreciation rate?  % d5 = B5 =
A surface mount placement machine is being purchased for $1576000; it has an estimated useful life...
A surface mount placement machine is being purchased for $1576000; it has an estimated useful life of 8 years and a salvage value of $58900 at that time. Determine the depreciation allowance for the 5th year and the book value at the end of the 5th year using Declining Balance where the depreciation rate is determined by the salvage value and time in service. what is the depreciation rate? % d5 = $ B5 = $
Apex Fitness Club uses straight-line depreciation for a machine costing $25,300, with an estimated four-year life...
Apex Fitness Club uses straight-line depreciation for a machine costing $25,300, with an estimated four-year life and a $2,250 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,800 salvage value. Required: 1. Compute the machine’s book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the...
A surface mount placement machine is being purchased for $1986000; it has an estimated useful life...
A surface mount placement machine is being purchased for $1986000; it has an estimated useful life of 8 years and a salvage value of $90000 at that time. Determine the depreciation allowance for the 5th year and the book value at the end of the 5th year using Double Declining Balance. what is the depreciation rate?  % d5 = $   B5 = $
Blossom Corporation purchased a machine on January 2, 2020, for $5000000. The machine has an estimated...
Blossom Corporation purchased a machine on January 2, 2020, for $5000000. The machine has an estimated 5-year life with no salvage value. The straight-line method of depreciation is being used for financial statement purposes and the following MACRS amounts will be deducted for tax purposes: 2020 $1000000 2023 $575000 2021 1600000 2024 575000 2022 960000 2025 290000 Assuming an income tax rate of 20% for all years, the net deferred tax liability that should be reflected on Blossom's balance sheet...
The machine that was used to produce notebooks cost $750,000 when it was purchased new one...
The machine that was used to produce notebooks cost $750,000 when it was purchased new one year ago. It has an expected life span of 10 years. The income statement showed the straight line deprecation rate as 10%. Using double declining balance depreciation, the book value of the machine at the end of year two is __________. a.)$330,000 b.)$480,000 c.)$600,000 d.)$150,000