题目
题目

MCD2150 - T2 - 2025 Week 3 Workshop 2 Quiz

数值题

Dinosaurs World purchased a new sound system for their dinosaurs expedience on 1 July 2023. The sound system cost $320526 and is expected to be used for 8 years. At the end of this time the sound system is expected to be sold for $80904. They think this number of years would result in a deducing balance depreciation date of 25%. If Dinosaurs World uses straight-line depreciation, what will be the depreciation expense for year 2?

查看解析

查看解析

标准答案
Please login to view
思路分析
Begin by identifying the key data: cost of the asset, estimated salvage value at end of useful life, and the expected useful life. Next, apply straight-line d......Login to view full explanation

登录即可查看完整答案

我们收录了全球超50000道考试原题与详细解析,现在登录,立即获得答案。

类似问题

JOHNSON LIFTS- Part 1 of 8 Johnson Lifts is another elevator-manufacturing firm based in Lethbridge, Alberta. On January 1, 2020, Johnson Lifts purchased the same gear machine for its own plant from Montanari Giulio. The final acquisition cost for Johnson for the machine is  $144,000. The CEO of Johnson lifts estimates the useful life of the machine to be 12 years and the salvage value to be $21,000. The financial year-end of the company is December 31st. Answer the following based on the above information on Johnson Lifts. The CEO is calculating the machine’s depreciation expenses assuming that the company chooses the straight-line depreciation method.  Do not use symbols like $ or %, or text such as million, in your answers.  Round to two decimal points.  What is the accumulated depreciation using the straight-line depreciation method at the end of 2023, after recognizing depreciation for 2023?  

An asset was purchased for $120,000 on January 1, Year 1, and originally estimated to have a useful life of 10 years with a salvage value of $10,000.   Straight-line method is used for depreciation. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a salvage value of $2,600.  Calculate the third-year depreciation expense using the revised amounts and straight-line method.

Suppose you just bought an asset with a book value of $250,000 that is depreciated using the straight-line method over the project's life of 6 years. The salvage value at the end of the 6 years will be $400. What will be the depreciation expense in year 3?

For a company using the straight-line method of depreciation that changes the estimated useful life from 20 years to 15 years remaining as at the beginning of the year, the accountant should do the following:

更多留学生实用工具

加入我们，立即解锁 海量真题 与 独家解析，让复习快人一步！