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Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
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- A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.Initial Cost of $55,000, annual O&M costs of $800 increasing by $100 annually, salvage value of $6,000 at the end of it's 10 year useful life. Sheet 1 - Depreciation Calculate the depreciation for each year and book value using the appropriate MACRS recovery period for your vehicle.A machine costing P720,000.00 is estimated to have a life of 10 years. If the annual rate of depreciation is 25%, determine the total depreciation using the constant percentage or declining balance method
- A machine costing P720,000 is estimated to have a life of 10 years. If the annual rate of depreciation is 25%, determine the total depreciation at the tenth year using a constant percentage of the declining balance method.A machine can be purchased for $50,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $10,000. Income Year Year 1 $3,300 Initial invest Year 1 Year 2 Year 3 Year 4 Year 5 Year 2 $8,300 Compute the machine's payback period. Note: Round payback period answer to 2 decimal places. Net Income Depreciation 3,300 8,300 30,000 12,400 33,200 Year 3 $30,000 Year 4 $12,400 Net Cash Flow $ (50,000) $ Payback period = Year 5 $33,200 Cumulative Net Cash Flow (50,000) 0 0A certain machine has a first cost of 30,000; annual costs of 6,000; a salvage value of 4,000 and a life of 10 years. Assume an interest rate of 8% What is the depreciation allowance in years 1-10 for this asset using straight line depreciation?
- 1. An equipment costs P100,000 with a salvage value of P5,000 at the end of 10 years. Calculate the annual depreciation cost by: a) SLDM b) SFDM at 4% interestThe first cost of a machine is $375,000 with a 7 years life. Annual interest rate is 20% and the expected annual maintenance cost of this machine is $15,000. For each case in the following, calculate the double declining balance depreciation payments if its salvage value is A) $85,000 B) $10,000 C) $35,575.An equipment costing 250,000 has an estimated life of 15 years with a book value of 30,000 at the end of the period. Compute the depreciation charge and its book value after 10 years using straight-line method. Assuming i = 8%
- A bottle-capping machine costs 5100,000, has an estimated life of 10 years, and has a scrap value of $20,000 Use the straight-line method to find (a) the annual rate of depreciation, (b) the annual amount of depreciufion, a the book value at the end of first year. (a) The annual rate of depreciation is % (Type a whole number or decimal rounded to the nearest tenth as needed.) (b) The annual amount of depreciation is $ (Type a whole number or decimal rounded to the nearest tenth as needed) (c) The book value at the end of the first year is 5 (Type a whole number or decimal rounded to the nearest tenth as needed) Enter your answer in each of the answer boxes 3:16 11/24 P Type here to search 立Computer amounting to 100,000 is depreciated annually at 20% of depreciable cost. Salvage value is 10% of historical cost. required: Use full-year depreciation for the adjusting entries.create a depreciation schedule to show the depreciation expenses for five years on a new piece of equipment. The equipment price is $45,000. The equipment depreciates 20 percent a year on the declining-balance method.