acce

posted by .

A car was purchased for $10,000 with a salvage value of $4000. It is expected to have a useful life of 5 years. Using the sum-of-years method, find the car's value in the first year after the purchase.

  • acce -

    The car is expected to decrease in value $6,ooo in five years (10,000 - 4,000). How much is that per year? Then subtract the yearly depreciation from the purchase price to find the value at the end of the first year.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math please help

    a company purchased a lathe with a useful life of 4 years and a salavage value of $5,000.00 if the lathe cost $45,000.00 what is the lathes first year depreciation using the sum-of-the years digits method?
  2. math

    a company purchased a lathe with a useful life of 4 years and a salavage value of $5,000.00 if the lathe cost $45,000.00 what is the lathes first year depreciation using the sum-of-the years digits method?
  3. Math

    P Inc.purchased a $30,000 asset with a salvage value of$1,200 and an estimated useful life of three years.what is the book value at the end of years one and two using the 150% declining balance method?
  4. Math

    The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
  5. Math

    The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
  6. accounting

    How do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but …
  7. Accounting

    I am trying to figure out if I am doing this accounting problem correctly?
  8. ashworth

    The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
  9. programming

    3. Your company needs to depreciate its assets. The accountant wants to record the purchase price, the useful life, and the estimated salvage value. Your program should be able to depreciate by the straight-line method. For example, …
  10. Business Math

    The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining blance method. a. $63,750 b. $63,500 c. $63,250 …

More Similar Questions