Use the straight-line method to complete the first row of the depreciation table for an SUV that costs $41,000, has a residual value of $5,000 and an estimated life of six years. Year Annual depreciation Accumulated depreciation End-of-year book value 1 Complete the table below. Year Annual depreciation Accumulated depreciation End-of-year book value 1 $enter your response here $enter your response here $enter your response here

Use the straight-line method to complete the first row of the depreciation table for an SUV that costs $41,000, has a residual value of $5,000 and an estimated life of six years. Year Annual depreciation Accumulated depreciation End-of-year book value 1 Complete the table below. Year Annual depreciation Accumulated depreciation End-of-year book value 1 $enter your response here $enter your response here $enter your response here

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section19.2: Calculating Depreciation Expense

Problem 1WT

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Year	Annual depreciation	Accumulated depreciation	End-of-year book value
1

Year	Annual depreciation	Accumulated depreciation	End-of-year book value
1	$enter your response here	$enter your response here	$enter your response here

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Calculate the total cost, total depreciation, and annual depreciation (in $) for the following assets by using the straight-line method. (Round your answers to the nearest cent.) Estimated Shipping Charges Setup Charges Total Salvage Value Total Annual Useful Life (years) Cost Cost Depreciation Depreciation $88,700 $625 $2,500 $7,000
Use the following information to answer the question:Cost of car: $26,000Residual value: $6,000Life: 5 yearsWith the information given, determine the depreciation expense for the first year using the straight-line method. A. $6,000 B. $5,200 C. $4,000 D. $4,400
Show Me How Print Item Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $1,630,000 has an estimated residual value of $340,000 and an estimated useful life of 10 years. Determine the following. a. The depreciable cost b. The straight-line rate c. The annual straight-line depreciation Check My Work Email Instructor All work saved. GMX earch 近
To test your formulas, assume the machine purchased had an estimated useful life of three years (20,000, 30,000, and 50,000 hours, respectively). Enter the new information in the Data Section of the worksheet. Does your depreciation total 320,000 under all three methods? There are three common errors made by students completing this worksheet. Lets clear up two of them. One, an asset that has a three-year life should have no depreciation claimed in Year 4. This can be corrected using an =IF statement in Year 4. For example, the correct formula in cell C32 is =IF(B32D9,0,(D7D8)/D9) or =IF(B32D9, 0, SLN(D7, D8, D9)). You may wish to edit what you have already entered rather than retype it. Two, as mentioned in requirement 2, the double-declining-balance calculation needs to be modified in the last year of the assets life. Assuming you have already modified the formula for Year 4 (per instructions in step 2), alter the formula for Year 3 also. If you corrected any formulas, test their correctness by trying different estimated useful lives (between 3 and 8) in cell E9. Then reset the Data Section to the original values, save the revised file as DEPREC2, and reprint the worksheet to show the correct formulas. The third common error doesnt need to be corrected in this problem. The general form of the double-declining-balance formula needs to be modified to check the net book value of the asset each year to make sure it does not go below salvage value. =DDB does this automatically, but if you are writing your own formulas, this gets very complicated and is beyond the scope of the problem.
Major medical complexes and their service providers continue to move toward advanced health informatics - acquiring, managing, and using information to provide better healthcare. A new analyzer for researching and evaluating patient samples, and making informed recommendations in the treatment of complex blood cancers, is purchased for $290,000. It is estimated to have a useful life of 6 years and to be sold at the end of that time for $9,500. Part a Develop a table showing the depreciation and book value for each year using both the Excel® DDB worksheet function and the Excel® SLN worksheet function such that the depreciation switches from double declining balance to straight-line at the optimum time. Year Depreciation Book Value 1 $ $ $ $ $ 4 $ $ $ $ Carry all interim calculations to 5 decimal places and then round your final answers to 2 decimal places. The tolerance is +2.00. %24 %24 %24 %24 %24 %24 %24 %24 2. 3. 6.
Find the depreciation for the third year using MACRS cost-recovery rates for the property placed in service at midyear. The property is a 3-year property and was purchased for $98,452. Click the icon to view a table of MACRS rates. X The depreciation is $. (Round to the nearest cent as needed.) MACRS Table Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 3-Year 33.33% 44.45 14.81 7.41 Depreciation rate for recovery perioa 5-Year 7-Year 10-Year 15-Year 20.00% 10.00% 5.00% 14.29% 32.00 19.20 11.52 11.52 5.76 24.49 17.49 12.49 8.93 8.92 8.93 4.46 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461
Calculate the Annual Depreciation for each listed asset. Assume the assets were purchased on January 1st and used for 12 months. The first asset has been completed. Utilize the straight-line depreciation method: (Original cost - Estimated Salvage Value) / Estimated Useful Life = Annual Depreciation Plant Asset Cash register Computer Vehicle Machinery Desk Asset Original Cost 500.00 4,500.00 15,500.00 8,000.00 2,500.00 Calculate the amount to be depreciated: Annual Depreciation Cash register Computer Vehicle Machinery Desk Estimated Salvage Value 25.00 800.00 3,000.00 1,200.00 200.00 67.86 Estimated Useful Life 7 years 5 years 10 years 5 years 15 years Questions? Contact your instructor!
A tractor costs $23,940, has an expected life of 12 years, and has a salvage value of $2,100. Use straight-line depreciation to find the yearly depreciation. Make a depreciation schedule for the first three years' depreciation. Complete the table. Year Depreciation Accumulated depreciation End-of-year book value 1 $enter your response here $enter your response here $enter your response here 2 $enter your response here $enter your response here $enter your response here 3 $enter your response here $enter your response here $enter your response here
in the following table (The annual usage for Asset III is 15,000 miles). (You can copy and paste the following table) Asset Depreciation Method End of Year Initial Cost (I) ($) Salvage Value (S) ($( Book Value ($) Depreciable Life (years or mi) Depreciable Amount ($) Accumulated Depreciation 1 SL 6 $30k $6k $12k 8 years ? ? || DDB 3 $25k $5k $5.4k 5 years ? $19,600 ||| UP 3 $41k $5k ? 90,000 miles 2. IV MACRS 4 $20k $2k $3,456 ? ? ?
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Use the straight-line method to fill in the row for year 3 of the depreciation table for an SUV that costs $43,000,has a residual value of $7,000 and an estimated life of six years. Year Annual depreciation Accumulated depreciation End-of-year book value 3 Complete the table. Year Annual depreciation Accumulated depreciation End-of-year book value 1 $6,000 $6,000 $37,000 2 $6,000 $12,000 $31,000 3 $enter your response here $enter your response here $enter your response here
Calculate the 4th year annual depreciation charge value if the depreciation life is 6 years, cost of asset is 900$ and salvage value is 70$ using the Sum-of-Year Digits Depreciation rule. Select one: a. 110$ b. 119$ c. 125$