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1. An asset is purchased for $50000. It has an estimated useful life of 12 years and a salvage value of $5000. What is the annual depreciation of the asset using the straight-line method?A. $3750.00 XXXXXXB. $4000.00C. $4500.00D. $4583.332. An asset purchased by Able Corporation for $15000 on 01/01/1997 also incurred freight charges of $200 and installation cost of $1000. The asset had a life expectancy of eight years and a salvage value of $2800. What are the accumulated straight-line depreciation and book value on 01/01/2000?A. $1675; $9975B. $5025; $11175 XXXXXXC. $1875; 10575D. $6075; $101253. Parker Inc. purchased a $30000 asset with a salvage value of $1200 and an estimated useful life of three years. What is the book value at the end of years one and two using the 150% declining balance method?A. $30000 and $15000B. $25000 and $15000C. $30000 and $7500D. $15000 and $75004. An asset is purchased for $50000. It has an estimated useful life of eight years and salvage value of $6000. If the asset is depreciated using the double-declining balance method what are the depreciation expense and book value at the end of year two?A. $5468.75; $38281.25B. $8250; $30750C. $9375; $28125 XXXXXXD. $11000; $28000

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