Podcast
Questions and Answers
Using the double-declining-balance method, what is the depreciation expense for the second year of the cash register's useful life?
Using the double-declining-balance method, what is the depreciation expense for the second year of the cash register's useful life?
Using the units-of-production method, what is the depreciation amount for the second year of the rope braiding machine?
Using the units-of-production method, what is the depreciation amount for the second year of the rope braiding machine?
If an asset's book value is $18,000 on June 30, Year 6 and it is being depreciated at $3,000 annually using straight-line, what should be recorded if it is sold for $15,000 on December 31, Year 7?
If an asset's book value is $18,000 on June 30, Year 6 and it is being depreciated at $3,000 annually using straight-line, what should be recorded if it is sold for $15,000 on December 31, Year 7?
If Wilson Engineering sold an asset costing $45,000 with $5,000 salvage value on July 1, Year 5 for $20,000, using straight-line depreciation over 8 years, what is the gain/loss?
If Wilson Engineering sold an asset costing $45,000 with $5,000 salvage value on July 1, Year 5 for $20,000, using straight-line depreciation over 8 years, what is the gain/loss?
Signup and view all the answers
If a company discards a display case with an original cost of $8,000 and accumulated depreciation of $7,200, what should be recognized?
If a company discards a display case with an original cost of $8,000 and accumulated depreciation of $7,200, what should be recognized?
Signup and view all the answers
What is the formula for calculating depreciation using the double-declining-balance method?
What is the formula for calculating depreciation using the double-declining-balance method?
Signup and view all the answers
