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On Jan 2, 2008 X Company purchased Machine for Sixty Thousand (60,0-) Cash, w/ est. Useful life of 6 years and Salvage value Two Thousand (2,0-).

Double declining method of depreciation is being used.(a) Compute the Book value of Machine as of July1,2011.

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Question ajoutée par Edgar Mejia , School Head , DepEd Sorsogon
Date de publication: 2014/05/30
Edgar Mejia
par Edgar Mejia , School Head , DepEd Sorsogon

Solution:

Cost----------------------------------------------------------------------------------------------------      60,000.00

Less Accumulated depreciations:

        Depreciation for2008 (60,000x331/3%) ---------------------------------20,000

        Depreciation for2009 (60,000-20,000) x331/3%)  -------------------13,333

        Depreciation for2000 (60,000-33,333.) x331/3% ---------- -----------8,889

        Depreciation for first half of2010 (60,000-42,222)x331/3%x1/2----2,963

                               TOTAL          ----------------------------------------------------------------------45,185

 

Book Value         ----------------------------------------------------------------------------------------14,815           

Ateeq Arif
par Ateeq Arif , Sales Representative , Ghaza Computer Tr. LLC

Book vale after three and half year will be23305 as per double declining method of depreciation at the rate of32%.

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