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Question 92

Equipment was purchased for $82400 on January 1, 2016. Freight charges amounted to $3200 and there was a cost of $12000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $16000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used?

Question 111

A plant asset was purchased on January 1 for $64600 with an estimated salvage value of $10000 at the end of its useful life. The current year's depreciation expense is $3900 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $27300. The remaining useful life of the plant asset is

Question 201

A company has the following assets:

Buildings and Equipment,
less accumulated depreciation of $5100000		$22900000
Copyrights		2200000
Patents		13000000
Land		15000000

The total amount reported under Property, Plant, and Equipment would be?

Question 211

Equipment with a cost of $452000 has an estimated salvage value of $32000 and an estimated life of 4 years or 10000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the first full year, during which the equipment was used 3200 hours?

Question 216

Crane Company purchased a new van for floral deliveries on January 1, 2017. The van cost $52000 with an estimated life of 10 years and $14000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2017?

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