a widget machine is purchased and exoected to have a residual value of $20000 at the end of its eight year life. if the machine weredepreciated on a straight line basis, and sold at the end of four years for $88000, giving a gain of $4000 over carrying, what was the cost of the machine?
Thank you
accounting depreciation
2009-04-20 9:10 am
回答 (2)
2009-04-20 8:39 pm
Sold at the end of 4 year for $88,000.00 and gain $4,000.00
4 years cost (Depreciation) = $88,000.00-$4,000.00 = $84,000.00
1 years depreciation = $84,000.00/4 = $21,000.00
The assets have 8 years depreciation, then the cost of the assets is &21,000.00 x 8 = $168,000.00
The residual value will not affect the yearly depreciation, we only make depreciation base on the COST of the ASSET. Not the Cost less the residual value.
4 years cost (Depreciation) = $88,000.00-$4,000.00 = $84,000.00
1 years depreciation = $84,000.00/4 = $21,000.00
The assets have 8 years depreciation, then the cost of the assets is &21,000.00 x 8 = $168,000.00
The residual value will not affect the yearly depreciation, we only make depreciation base on the COST of the ASSET. Not the Cost less the residual value.
2009-04-20 5:18 pm
Suppose C = Cost, D = Yearly Depreciation Amount
So, we have 2 formulas as below :
1) ( C - 20,000) / 8 = D
2) 88,000 - ( C - 4D) = 4,000
Substitue D in 2) with formula 1), we have
=> 88,000 - ( C - 4 * ( C - 20,000) / 8) = 4,000
=> 88,000 - ( C - 0.5C + 10,000 ) = 4,000
=> 78,000 - 0.5C = 4,000
=> C = 148,000
So, we have 2 formulas as below :
1) ( C - 20,000) / 8 = D
2) 88,000 - ( C - 4D) = 4,000
Substitue D in 2) with formula 1), we have
=> 88,000 - ( C - 4 * ( C - 20,000) / 8) = 4,000
=> 88,000 - ( C - 0.5C + 10,000 ) = 4,000
=> 78,000 - 0.5C = 4,000
=> C = 148,000
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