Andrea Kremer purchased a computer for $8,000 on July 1, 2020. She intends to depreciate it over 4 years using the double-declining- balance method. Salvage value is $1,000. Compute depreciation for 2021.
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Andrea Kremer purchased a computer for $8,000 on July 1, 2020. She intends to
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- Sally Kremer purchased a computer for $9,120 on July 1, 2020. She intends to depreciate it over 4 years using the double-declining-balance method. Salvage value is $1,140. Compute depreciation for 2021. Depreciation for 2021 $Type your answer hereSami Products purchased a machine for $85,000 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5,000. What is the depreciation for 2021.Andrea Torbert purchased a computer for $8,000 onJuly 1, 2017. She intends to depreciate it over 4 yearsusing the double-declining-balance method. Salvagevalue is $1,000. Compute depreciation for 2018
- On January 1, 2019, Williams Company purchased a copy machine. The machine costs $160,000, its estimated useful life is 8 years, and its expected salvage value is $10,000. What is the depreciation expense for 2020 using double-declining-balance method?SIMCO Company purchases a machine on 1/1/2020, at a cost of $24,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $4,000 salvage value. On 1/1/2022, management decides to change the useful life to 7 years, instead of 5 years, and keep salvage value the same. Required: Calculate the depreciation expense on the machine for the year 2022?PIKACHU purchased an equipment for 540,000 on January 1, 2020. The equipment has an estimated salvage value of 60,000 and estimated useful life of 5 years. The equipment is being depreciated using the sum-of-years digit method. How much is the accumulated depreciation as of the December 31, 2022?
- Holt Company purchased a computer for $8,000 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,000 salvage value. In 2021, the estimates are revised. Holt now feels the computer will be used until December 31, 2022, when it can be sold for $500. Compute the 2021 depreciation.PIKACHU purchased an equipment for P540,000 on January 1, 2020. The equipment has an estimated salvage value of P60,000 and estimated useful life of 5 years. The equipment is being depreciated using the sum-of-years digit method. How much is the carrying value of the equipment on December 31, 2021?The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with an estimated salvage value of P 4,000 and an estimated useful life of 10 years. As a result of technological improvements, a revision of the machine's useful life and estimated salvage value was made. On January 1, 2021, the equipment was estimated to last through 2022, with an estimated value at the end of 2022 of P 1,000. Potter uses the straight-line depreciation method. What is the revised depreciation in year 2021? select the correct answer below a. 41,600 b. 42,100 c. 44,000 d. 8,800
- The Depreciators Inc purchases and begins using equipment costing $175 on Sept 1, 2020. There was an additional cost of $15 for delivery and installation. The Depreciators expects to use the equipment over a 3 year useful life and estimates the salvage value to be $10. DI uses the straight line method for calculating depreciation. Determine the following. Pay attention to the dates being asked!: a) Net Book Value of the equipment as of December 31, 2020 $ b) Depreciation Expense for the year ending Dec 31, 2021 $ c) Accumulated Depreciation for the year ending Dec 31, 2023 You must show your work on your PDF upload to receive credit. You may prepare journals, TAccounts, or a table to determine your answers. The choice is yours, but your calculations should be logically presented so I can follow what you have done.SIMCO Company purchases a machine on 1/1/2020, at a cost of $24,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $4,000 salvage value. On 1/1/2022, management decides to change the useful life to 7 years, instead of 5 years, and keep salvage value the same.Crane Company purchased a computer for $8,080 on January 1, 2024. Straight-line depreciation is used, based on a 5-year life and a $1,010 salvage value. In 2026, the estimates are revised. Crane now feels the computer will be used until December 31, 2027, when it can be sold for $510. Compute the 2026 depreciation. Depreciation expense, 2026 2373