1. A company purchases an asset for the P10,000 and plans to keep it for 20 years. If the salvage yalue is zero at the end of 20h year, what is the book value in the third year? Use SOYD method
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- Montezuma Inc. purchases a delivery truck for $20,000. The truck has a salvage value of $8,000 and is expected to be driven for ten years. Montezuma uses the straight-line depreciation method. Calculate the annual depreciation expense. After five years of recording depreciation, Montezuma determines that the delivery truck will be useful for another five years (ten years in total, as originally expected) and that the salvage value will increase to $10,000. Determine the depreciation expense for the final five years of the assets life, and create the journal entry for years 6–10 (the entry will be the same for each of the five years).Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?Montezuma Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montezuma uses the straight-line depreciation method. Calculate the annual depreciation expense. After three years of recording depreciation, Montezuma determines that the delivery truck will only be useful for another three years and that the salvage value will increase to $4,000. Determine the depreciation expense for the final three years of the assets life, and create the journal entry for year four.
- A company purchases an asset for P 10,000.00 and plans to keep it for 20 years. If the salvage value is zero at the end of 20 year, what is the depreciation in the third year? Use SYD method.1.A machine costs P 8,000 and an estimated life of 10 years with a salvage value of P500. What is the book value after 8 years using the straight-line method? 2.A company purchases an asset for P10,000 and plans to keep it for 20 years. the salvage value is zero at the end of the 20th year. What is the depreciation value in the 3rd year? Use Sum-of-the-Years-Digits Depreciation Method. For determining For the sum of years, you can use n(n+1)/2 as a formula, where n=useful life Please help me with this, thankyouuuAn asset is considering the purchase of a new equipment. This equipment will cost $100,000 and will be depreciated using an MACRS GDS recovery period of 7 years. The equipment is expected to have a market value of $40,000 at the end of its estimated 8-year life. What is the depreciation amount on the second year? What is the Book Value at the end of the 3rd year? Assume that the asset will be disposed of in year 3.
- Suppose you purchase a tangible asset with a book value of $700,000. The salvage value is $ 100,000. The useful life of the asset is 30 years. How much accumulated depreciation will there be (assume that you're using the "straight line" amortization method) after 10 years?A company purchases an asset for P 10,000.00 and plans to keep it for 20 years. If the salvage value is zero at the end of the 20th year: (a) What is the depreciation in the third year? (b) What is the total depreciation at the end of 14 years? (c) What is the book value of the asset at the end of 8 years? Use sum-of-the-year’s digits depreciation.1. A certain building has a salvage value of P 1 million after 50 years. Annual depreciation is Php 2 M. Using the Straight Line Method, how many years after should you sell the building for Php 30 M?
- A company purchases an asset for P10,000 and plans to keep it for 20 years. the salvage value is zero at the end of the 20th year. What is the depreciation value in the 3rd year? Use Sum-of-the-Years-Digits Depreciation Method. For determining For the sum of years, you can use n(n+1)/2 as a formula, where n=useful lifeMercury Drug purchased a Laboratory equipment for P 100,000 and plans to keep itfor 15 years. If the salvage value is Php 15,000 at the end of 15th year, what is the depreciation inthe third year? Use Sum of the Years Method. (Show your solution by using the long method bytabulating)A company purchases an asset for P10,000.00 and plans to keep it for 20 years. If the salvage value is zero at the end of the 20th year, what is the depreciation in the third year? Use the sum of the years digit method.
