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28)On Dec
28)On Dec. 31 Furniture 12000 Accumulated Depreciation. : Furniture 6000 Adjustment at the year end Furniture depreciated Using D.D.B .Years of UL 8 years. New Furniture costing KD 4000 Purchased on 10/1 The Depreciation Expense for the Furniture isRequired to answer. Single choice.
-2000
-500
-750
-1500
.
29.On Dec. 31 Furniture 12000 Accumulated Depreciation. : Furniture 6000 Adjustment at the year end Furniture depreciated Using D.D.B .Years of UL 8 years. New Furniture costing KD 4000 Purchased on 10/1 The Furniture Accumulated Depreciation in the Balance Sheet isRequired to answer. Single choice.
-7500
-6000
-6500
-6750
.
30.On Dec. 31 Equipment 16000 Accumulated Depreciation. : Equipment 3000 Adjustment at the year end Equipment depreciated Using S.L.M. Years of UL 20 years. The Depreciation Expense for the Equipment isRequired to answer. Single choice.
-3000
-800
-650
-8000
Expert Solution
1)
The correct answers
750
Explaination
= depreciation os assets at the beginning o the year + depreciation for asset purchased during the year
= ((12000-4000-6000) *25%) + (4000*25%*3/12)
= 500+250
= 750
Note
depreciation rate = 1/n*2*100
= 1/8*2*100
= 25 %
Part 2)
The cprrect answer is
$ 6750
Explaination
Accumulated depreciation at end of year = beginning balance + depreciation expense during the year
= 6000+750
= 6750
Part 3)
The correct answer is
800
Explaination
depreciation under slm = cost / life
= 16000 / 20
= 800
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