40. An asset that cost P15,000 new has an estimated scrap value of P2,000 at the end of 10 years using constant percentage method, determine the rate of depreciation and the Book value at the end of 8 years. a. K=18.25%; BV = 3000 b. K 20.10; BV = 2934.40 C. K=18.25%; BV = 2992.22 d. K= 20.10% BV = 3000 e. None of the above 41. In problem no. 40, determine the total depreciation up to the end of 8th year %3D %3D с. %3D е. a. 13300.80 b. 12540.80 c. 12210.89 d. 12007.78 e. None of the above

40. An asset that cost P15,000 new has an estimated scrap value of P2,000 at the end of 10 years using constant percentage method, determine the rate of depreciation and the Book value at the end of 8 years. a. K=18.25%; BV = 3000 b. K 20.10; BV = 2934.40 C. K=18.25%; BV = 2992.22 d. K= 20.10% BV = 3000 e. None of the above 41. In problem no. 40, determine the total depreciation up to the end of 8th year %3D %3D с. %3D е. a. 13300.80 b. 12540.80 c. 12210.89 d. 12007.78 e. None of the above

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE

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40. An asset that cost P15,000 new has an estimated scrap value of P2,000 at the end of 10 years using constant percentage method, determine the rate of depreciation and the Book value at the end of 8 years. a. K=18.25%; BV = 3000 b. K=20.10; BV = 2934.40 c. K=18.25%; BV = 2992.22 d. K= 20.10% BV = 3000 e. None of the above
93. A machine costing P720,000 is estimated to have a life of 10 years. If the annual rate of depreciation is 22%, determine the total depreciation using a constant percentage of the declining balance method. A. P679,454.27 В. Р532,825.73 С. Р432,725.45 D. P764,243.33
2.17 (LG 2.6) An asset costs $14 000. At a depreciation rate of 20 percent, calculate its book value using the declining-balance method: a. After one year b. After four years c. After seven years
PQ16.09 An asset with a first cost of $100,000 is depreciated over 5-year period. It is expected to have a $10,000 salvage value at the end of 5 years. Using the straight-line method, what is the book value at the end of year 2?
Kk.6. The cost of purchase of an item of property, plant and equipment was 100000, with straight line depreciation rate 10%, and accumulated depreciation 40000. Required: Please calculate new value of PPE and accumulated depreciation after revaluation given the following scenarios: a. revaluation with factor 2 b. revaluation of PPE to 150 000 c. revaluation of net book value of PPE to 120 000
2. Equipment bought for P 87,000.00 is expected to last for 24 years. If the scrap value after 20 years is P 60,000.00. How much is the depreciation for year 12? 3. Determine the rate of depreciation, the total depreciation up to the end of the 6th year and the book value at the end of 6 years for an asset that costP 16,000.00 new and has an estimated scrap value of P 2,000.00 at the end of 10 years by the double declining balance method. 4. A firm bought an equipment for P 58,000.00. Other expenses including installation amounted to P 2,000.00. The equipment is expected to have a life of 8 years with a salvage of 10% of the original cost. Determine the book value at the end of 13 years by sinking fund method at 6% interest. 5. An asset is purchased for P 3,000.00. Its estimated life is 5 years after which is will be sold for P 20,000.00. Find the depreciation for the first year using SYD. 6. A television company purchased machinery for P 100,000.00 on July 1, 2010. It is estimated…
Note: Double Declining Balance = 200% Declining Balance A. How much is the depreciation for year 3? Select one: o a. P158,203.13 o b. P150,000 o c. P210,937.50 o d. P187,500 В. How much is the total depreciation as of year three using DDB method? C. What is the equipment's book value at the end of year three?
7) Consider the following information: Asset Cost $56,000Salvage value 1,000Life 10 yearsDepreciation method Straight Line a. What is the depreciation in year 3? b. What would the depreciation in year 4 be if at the beginning of the year we think that the total asset life will be only 8 years instead of 10 years?
25 A machine costs R20 000. Depreciation will be written off at 20% per annum. Which one of the following amounts shows its carrying amount after 4 years if the reducing balance method is used? A. R9 030 B. R8 192 C. R8 256 D. R8 524
D. Double Declining Method Problem: Determine the rate of depreciation, the total depreciation up to end of the 8th year, and the book value at the end of 8 years for an asset that costs P15,000 now and has an estimated scrap value of P2,000 at the end of 10 years by (a) declining balance method and (b) the double declining balance method. (Make a table in Microsoft Excel)
50. Determine the depreciation charged during the 5th year using sum of the year digit method of a machine worth P1 million. Freight and installation charge amounted to 3% of the purchase price and the machine shall be depreciated over a period of 8 years with a salvage value of 12%. a. P 121000.20 b. P 100711.11 P 13400.34 d. P 12600.20 C. e. None of the above
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