63.Ferguson Company purchased a depreciable asset for 100,000. The estimated residual value is 10,000, and the...

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63.Ferguson Company purchased a depreciable asset for €100,000. The estimated residual value is €10,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset? a. €9,000 b. €10,000 c. €90,000 d. €100,000 65.Solar Products purchased a computer for €13,000 on July 1, 2018. The company intends to depreciate it over 4 years using the double-declining balance method. Residual value is €1,000. Depreciation for 2018 is a. €6,500 b. €3,250 c. €4,875 d. €3,000 77.A plant asset has a cost of £24,000 and a residual value of £6,000. The asset has a three- year life. If depreciation in the third year amounted to £3,000, which depreciation method was used? a. Straight-line b. Declining-balance c. Sum-of-the-years'-digits d. Cannot tell from information given 86.Lloyd Company purchased a depreciable asset for £1,360,000. The estimated salvage value is £360,000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? a. £125,000 b. £170,000 c. £187,000 d. £255,000 87.Kleinschmidt Company purchased a depreciable asset for €2,000,000. The estimated salvage value is €150,000, and the estimated useful life is 400,000 hours. Kleinschmidt used the asset for 35,000 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset? a. €160,870 b. €161,875 c. €175,000 d. €350,000 a. CHF21,250 b. CHF23,214. c. CHF85,000 d. CHF 148,750 ا من ۳ 88.On January 1, 2013, Fleming Company purchased equipment at a cost of CHF650,000. The equipment was estimated to have a salvage value of CHF55,000 and it is being depreciated over seven years under the sum-of-the-year's-digits method. What should be the charge for the depreciation of this equipment for the year ended December 31, 2019? 1 b. £10,000. c. £15,000. d. £25,000. 97. Holcomb Corporation owns machinery with a book value of £190,000. The machinery's fair value less costs to sell is £175,000, and its value-in-use is £200,000. Holcomb should recognize a loss on impairment of a. £ -0-. Fair value less cost to sell Value-in-use 103. On January 2, 2018, Q. Tong Inc. purchased equipment with a cost of HK$10,440,000, a useful life of 10 years and no salvage value. The Company uses straight-line depreciation. At December 31, 2018 and December 31, 2019, the company determines that impairment indicators are present. The following information is available for impairment testing at each year end: 12/31/2018 HK$9,315,000 HK$9,350,000 12/31/2019 HK$8,350,000 HK$8,315,000 a. Recovery of Impairment Loss of HK$3,889. b. Impairment Loss of HK$10,000. c. Recovery of Impairment Loss of HK$38,889. d. Impairment Loss of HK$1,000,000. There is no change in the asset's useful life or salvage value. The 2019 income statement will report 63.Ferguson Company purchased a depreciable asset for €100,000. The estimated residual value is €10,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset? a. €9,000 b. €10,000 c. €90,000 d. €100,000 65.Solar Products purchased a computer for €13,000 on July 1, 2018. The company intends to depreciate it over 4 years using the double-declining balance method. Residual value is €1,000. Depreciation for 2018 is a. €6,500 b. €3,250 c. €4,875 d. €3,000 77.A plant asset has a cost of £24,000 and a residual value of £6,000. The asset has a three- year life. If depreciation in the third year amounted to £3,000, which depreciation method was used? a. Straight-line b. Declining-balance c. Sum-of-the-years'-digits d. Cannot tell from information given 86.Lloyd Company purchased a depreciable asset for £1,360,000. The estimated salvage value is £360,000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? a. £125,000 b. £170,000 c. £187,000 d. £255,000 87.Kleinschmidt Company purchased a depreciable asset for €2,000,000. The estimated salvage value is €150,000, and the estimated useful life is 400,000 hours. Kleinschmidt used the asset for 35,000 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset? a. €160,870 b. €161,875 c. €175,000 d. €350,000 a. CHF21,250 b. CHF23,214. c. CHF85,000 d. CHF 148,750 ا من ۳ 88.On January 1, 2013, Fleming Company purchased equipment at a cost of CHF650,000. The equipment was estimated to have a salvage value of CHF55,000 and it is being depreciated over seven years under the sum-of-the-year's-digits method. What should be the charge for the depreciation of this equipment for the year ended December 31, 2019? 1 b. £10,000. c. £15,000. d. £25,000. 97. Holcomb Corporation owns machinery with a book value of £190,000. The machinery's fair value less costs to sell is £175,000, and its value-in-use is £200,000. Holcomb should recognize a loss on impairment of a. £ -0-. Fair value less cost to sell Value-in-use 103. On January 2, 2018, Q. Tong Inc. purchased equipment with a cost of HK$10,440,000, a useful life of 10 years and no salvage value. The Company uses straight-line depreciation. At December 31, 2018 and December 31, 2019, the company determines that impairment indicators are present. The following information is available for impairment testing at each year end: 12/31/2018 HK$9,315,000 HK$9,350,000 12/31/2019 HK$8,350,000 HK$8,315,000 a. Recovery of Impairment Loss of HK$3,889. b. Impairment Loss of HK$10,000. c. Recovery of Impairment Loss of HK$38,889. d. Impairment Loss of HK$1,000,000. There is no change in the asset's useful life or salvage value. The 2019 income statement will report

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