Question: A machine which cost P 10,000 was sold as scrap after being used for 10 years. If the scrap value was P 500, determine the

A machine which cost P 10,000 was sold as scrap after being used for 10 years. If the scrap value was P 500, determine the total depreciation and book value at the end of the 5th year using straight line method.

Step by Step Solution

★★★★★

3.46 Rating (140 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Machine Cost P10000 Scrap Value aftor lo year P500 us efull eife 10 ye... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Janet is a single mother of two. Her salary of $50,000 covers her living expenses of which she has a monthly mortgage payment of $850 (inclusive of taxes and insurance), travel expenses of $10,000...

A machine which cost $300,000 is acquired on October 1, 2014. Its estimated salvage value is $30,000 and its expected life is eight years. Instructions (1) Calculate depreciation expense for 2014 and...

After taking off, a helicopter climbs in a straight line at a constant angle . Its flight is tracted by radar from point A. Determine the speed of the helicopter in terms of d, , , and

What is the correct answer (with the appropriate number of significant figures) for the calculation of 7.5+ 2.26 + 1.311+ 2? 13 13.071 10 13.0

. Shawn borrowed RM7,300 from a bank with simple interest rate of 5.6% simple interest rate per annum. Find the amount he paid to settle the loan after 38 months and the amount of interest. (4 MARKS)...

Hartamas Bhd is a company involved in manufacturing, packaging, and selling of frozen food and beverage products for local and international market in Seri Kembangan. The finance department of the...

1. A man was offered a bank certificate with a face value of P100,000 which is bearing interest of 8% per year payable semi-annually and due in 6 years. If he wants to earn 6% semi-annually, how much...

Plant Assets, Natural Resources, and Intangible Assets 1. PT Syarufidin bought a piece of land in the Cicayur area. The land was purchased for Rp 300,000,000.00. On the land there was an old...

pls answer Question 6 (1 point] Cost of the land can include a purchase price _ b all of the above commission paid to real estate agent .,_., d costs of removing existing structures Question ? (2...

I was wonder if anyone can help me out with these 2 cases please. Value Added Accounting Practices in Strategic Business Decisions Case 4 Fall 2016 Names Section: Points: Case 3.1 - 40 points Case...

I have these 2 cases and I wanted to know if you could help me understand? Value Added Accounting Practices in Strategic Business Decisions Case 4 Fall 2016 Names Section: Points: Case 3.1 - 40...

Randy's Production Company uses a single cost pool for fixed manufacturing overhead. The amount for May 2015 was budgeted at $250,000; however, the actual amount was $350,000. Actual production for...

You have received the following email from the Chief Executive Officer of Clark Casc Logistics plc, where you are employed as manager of a loading bay, inviting you to the first in a series of...

use qualitative data collected through semi-structured interviews with selected organizational leaders. These interviews will allow participants to share their experiences and insights in their own...

Determine the concavity of the parabola representing the quadratic function +1, its y-intercept, x-intercept if any exist and coordinates of the vertex and sketch the parabola

Want a brief explanation Explain the general characters of phylum Mollusca. Give one example of following classes of Mollusca; (i) Gastropoda; (ii) Pelecpoda; (iii) Cephalopoda.

Want a brief explanation What are pisces? Classify and explain two different kinds of fishes by the help of suitable examples.

What characterizes codominance? A.) The blending of both parents' traits B.) The expression of only one parent's allele C.) The equal, distinct, and simultaneous expression of both parents' different...

Tokyo Company is a producer and distributor of various motorized recreational scooter, bike and motorcycle products. The Osaka division handles scooters and would like to earn a long-run rate of...

Problem 3 Perfect Harmony, Inc. Manufactures two products: IVOONY and IVOREE. The firm uses a single plant-wide overhead rate based on direct labor hours, (2 hours for every unit of lvoony and 3...

Testing costs before machine was put into regular operation 15,000 Salary of engineer for the duration of the trial run 40,000 Operating cost during first month of regular use 250,000 Cash allowance...

PROBLEM 3 On July 1, 2020, Manuel Corporation purchased machinery worth P 8,000,000. Terms: P 500,000 down payment, the balance on three equal annual payments every July 1 of each year. The cash...

P. Nutt has a small batch peanut roasting machine which is 4X5' in size with an output of 10 lbs every 15 minutes. Mr. Nutt has a 5,000 square foot building with 1,000 square feet of space upfront...

Questions: 1. Calculate P. Nutt's current volume. 2. What are the capacity options that P. Nutt needs to consider.? What are the fixed and variable costs? What is the indifferent point for the...