Question

In: Accounting

NewTech purchases computer equipment for $264,000 to use in operating activities for the next four years....

NewTech purchases computer equipment for $264,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $28,000. rev: 07_27_2017_QC_CS-94103 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.

Solutions

Expert Solution

Depreciation under Straight line method = (Cost - Salvage value) / Estimated useful life

= ($264,000 - $28,000) / 4

= $59,000

Year Depreciation Book value
1 $59,000 $205,000 ($264,000-$59,000)
2 $59,000 $146,000 ($264,000-$59,000-$59,000)
3 $59,000 $87,000 ($264,000-$59,000-$59,000-$59,000)
4 $59,000 $28,000 ($264,000-$59,000-$59,000-$59,000-$59,000)

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

NewTech purchases computer equipment for $260,000 to use in operating activities for the next four years....
NewTech purchases computer equipment for $260,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $28,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation.
NewTech purchases computer equipment for $154,000 to use in operating activities for the next four years....
NewTech purchases computer equipment for $154,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $25,000. Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.   
In early January 2017, NewTech purchases computer equipment for $264,000 to use in operating activities for...
In early January 2017, NewTech purchases computer equipment for $264,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $28,000. Exercise 8-8 Double-declining-balance depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming double­declining­balance depreciation. (Enter all amounts positive values.) Depreciation for the Period End of Period Year Beginning­Year Book Value Depreciation Rate Annual Depreciation Accumulated Depreciation Year­End Book Value 2017 2018 2019 2020...
In early January 2017, NewTech purchases computer equipment for $268,000 to use in operating activities for the next four years.
  In early January 2017, NewTech purchases computer equipment for $268,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $30,000. Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.     Straight-Line Depreciation   Choose Numerator: / Choose Denominator: = Annual Depreciation Expense   Beginning book value/Cost/Cost minus salvage (choose one) / Double the SL rate/ Estimated useful life (years)/ Total units of...
In early January 2017, NewTech purchases computer equipment for $268,000 to use in operating activities for the next four years.
In early January 2017, NewTech purchases computer equipment for $268,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $30,000. rev: 07_27_2017_QC_CS-94103 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation.
In early January 2016, NewTech purchases computer equipment for $190,000 to use in operating activities for...
In early January 2016, NewTech purchases computer equipment for $190,000 to use in operating activities for the next four years. It estimates the equipment’s salvage value at $44,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation.
do you take purchases computer equipment for 266,000 to use an operating activities for the next...
do you take purchases computer equipment for 266,000 to use an operating activities for the next four years it estimates equipment salvage value is 27,000 repair a table showing appreciation book value for each of the four years assuming double declining balance depreciation
A firm purchases equipment for $19,000,000. The equipment has a useful life of 11 years and...
A firm purchases equipment for $19,000,000. The equipment has a useful life of 11 years and a salvage value of $3,454,545 at the end of the project's life of 11 years. The tax rate is 38%. What is the equipment's after-tax salvage value? $1,312,727 $4,110,909 $2,141,818 $0
1.What is the role of the computer operating system? Identify several activities performed by this key...
1.What is the role of the computer operating system? Identify several activities performed by this key piece of software. 2. What is an entity-relationship diagram, and what is its purpose? 3. What is Hadoop? What are its primary components, and what does each do?
A medical practice purchases computer equipment that cost $15,000 to be used for medical billing. In...
A medical practice purchases computer equipment that cost $15,000 to be used for medical billing. In addition, the practice purchases billing software that cost $5,000. Both the computer equipment and the software are expected to have 3-year useful lives and no salvage value. Please calculate the Three years of depreciation using straight-line, double declining balance, and sum-of-the-years digits. Asset Cost: Salvage Value: Asset Life: Straight-line Depreciation Each Year #DIV/0! Asset Cost: $0 Salvage Value: $0 Asset Life: 0 Depreciation Year...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT