Asset Cost Salvage Value Units of Useful Life Depreciation per Unit ($) Automobile $27,500 $3,500 40,000 miles $ what is the depreciation
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Asset | Cost | Salvage Value |
Units of Useful Life |
per Unit ($) |
---|---|---|---|---|
Automobile | $27,500 | $3,500 | 40,000 miles | $ |
what is the depreciation
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- Estimate the average total estimated useful life of depreciable property, plant, and equipment. Starbucks reports 580.6 million of depreciation and amortization in the statement of cash flows, of which 4.5 million relates to amortization of limited-life intangible assets. Does the estimate reconcile with stated accounting policy on useful lives for property, plant, and equipment? Explain.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?A fixed asset with a cost of $30,192 and accumulated depreciation of $27,172.80 is sold for $5,132.64. What is the amount of the gain or loss on disposal of the fixed asset? a.$2,113.44 loss b.$3,019.20 gain c.$3,019.20 loss d.$2,113.44 gain
- A fixed asset with a cost of $31,365.00 and accumulated depreciation of $28,228.50 is sold for $5,332.05. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. $3,136.50 loss $2,195.55 loss $2,195.55 gain $3,136.50 gainA fixed asset with a cost of $27,381 and accumulated depreciation of $24,642.90 is sold for $4,654.77. What is the amount of the gain or loss on disposal of the fixed asset? a.$1,916.67 loss b.$2,738.10 gain c.$1,916.67 gain d.$2,738.10 lossA fixed asset with a cost of $28,567 and accumulated depreciation of $25,710.30 is sold for $4,856.39. What is the amount of the gain or loss on disposal of the fixed asset? a.$2,856.70 gain b.$2,856.70 loss c.$1,999.69 loss d.$1,999.69 gain
- onsider the following data on an asset:Cost of the asset, I $235,000Useful life, N 5 yearsSalvage value, S $ 60,000Compute the annual depreciation allowances and theresulting book values, using(a) The straight-line depreciation method.(b) The double-declining-balance methodA fixed asset with a cost of $34,571 and accumulated depreciation of $31,113.90 is sold for $5,877.07. What is the amount of the gain or loss on disposal of the fixed asset? Oa. $3,457.10 loss Ob. $3,457.10 gain Oc. $2,419.97 gain Od. $2,419.97 lossProblem 1. a:Consider the following data on an asset: Cost of the asset, I Useful life, N Salvage value, S $130,000 5 years $5,000 Compute the annual depreciation allowance using the straight-line depreciation method.
- A fixed asset with a cost of $32,167.00 and accumulated depreciation of $28,950.30 is sold for $5,468.39. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. A. $2,251.69 loss B. $2,251.69 gain C. $3,216.70 gain D. $3,216.70 lossA fixed asset with a cost of $31,021 and accumulated depreciation of $27,918.90 is sold for $5,273.57. What is the amount of the gain or loss on disposal of the fixed asset? Oa. S2,171.47 loss Ob. $3,102.10 loss Oc. S2,171.47 gain Od. S3,102.10 gain9.9 Consider the following data on an asset: Cost of the asset, / Useful life, N Salvage value, S $123,000 7 years $13,000 Compute the annual depreciation allowances and the resulting book values, initially using the DDB and then switching to SL.