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Which is the first year depreciation deduction on a machine with a three-year- useful life which costs 5000 and has no salvage value?
Assuming you are using the straight line method, the depreciation expense in the first year is: cost - residual value, divided by the economic lifetime
= (5000 - 0) / 3 = 1666.67
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Who originally wrote the song Parachute Cheryl Cole or Ingrid Michaelson?
daily enterprise purchasing 10.0 million machine. It will cost 50,000 to transport and install the machine. the machine has a depreciable life of 5 year and will have no salvage value If daily use straight-line depreciation what are the yearly depreciation expense associated with this machine?
Formula for calculating straight line depreciation?
Formula for straight line depreciation is as follows: Depreciation = (Cost of asset - salvage value) / useful life of asset
How can you calculate a motorcycle's depreciation value?
Formula for calculating depreciation value Annual depreciation value = (Total cost - salvage value (if any) ) / useful life
How do you calculate straigt line depreciation?
Straigt line depreciation = (total cost of asset - salvage value)/ useful life of asset.
What is the formula for a straight line depreciation method?
The formula for a straight line depreciation method is the Cost minus the Salvage Value over the Life in Number of Periods which will equal Depreciation.
A company purchased an asset for 170000 with a salvage value of 8500 have a useful life of 4 years Find the depreciation epense for the first year using the 150 percent declining balance method?
Annual depreciation is as follows: Annual depreciation = (actual cost - salvage value ) / useful life of asset annual depreciation = 170000 - 8500 / 4 = 40375 Annual depreciation with 150 percentage decline method = 40375 * 1.5 = 60563
Difference between scrap value and salvage value?
Salvage value is defined as the value of the product after its useful life .In other words it is the value after depreciation. Salvage value also known as scrap value.
How do you calculate depreciation on a car?
Depreciation on a car is calculated by subtracting the car's salvage value from its original cost, and then dividing that difference by the car's useful life in years. This gives you the annual depreciation amount, which can be used to calculate the car's depreciation over time.
Is depreciation expense an estimate that is based on predictions of the asset's salvage value and useful life?
True
What is srtaight line method?
Straight line method of depreciation is that under which any asset is depreciated in equal amount for every year till salvage value. Formula for straight line method: Depreciation = (Cost price - Salvage Value)/Number of years
How can one determine the salvage value of a car for depreciation purposes?
The salvage value of a car for depreciation purposes can be determined by estimating the amount the car is expected to be worth at the end of its useful life. This can be based on factors such as the car's age, condition, market demand, and resale value. It is important to consider these factors when calculating depreciation for financial reporting or tax purposes.
Jayco purchased a machine for 6000 with the salvage value of 400 and a life of seven years the Straight-line method of depreciation was used At mid-year in year 4 Jayco sold the machine for 450?
Annual depreciation = 6000 - 400 / 7 = 800 Annual depreciation for 3.5 years = 2800 Journal entry for sale of asset Debit Accumulated Depreciation 2800 Debit Cash 450 [Debit] Loss on sale of asset 2750 Credit Asset 6000
