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Worksheets6.03 Depreciation Quiz
Total questions: 10
Worksheet time: 5mins
Kelly's Keying purchased a computer on January 1, 2020 for $3,700.00. The estimated salvage (disposal) value is $200.00 and the estimated useful life is 5 years. What is the annual depreciation expense?
$200.00
$340.00
$700.00
$740.00
Carl's Computing Services purchased a computer on July 1, 2020 for $3,500.00. The estimated salvage (disposal) value is $500.00 and the estimated useful life is 5 years. What is the depreciation expense for 2020?
$250.00
$300.00
$500.00
$600.00
Carol's Computer Services purchased a computer on January 1, 2019 for $3,700.00. The estimated salvage (disposal) value is $300.00 and the estimated useful life is 5 years. What is the accumulated depreciation at the end of 2021?
$680.00
$740.00
$1,360.00
2,040.00
Examine the image. For year 3 what is the difference between the Accumulated deprecation?
$900 is the difference between the two methods
$1,440 is the book value at the end of the year using the double declining-balance method.
$1,036.00 greater Accumulated Deprecation under the Straight-Line method
$1,036.00 greater Accumulated Deprecation under the Double Declining-Balance Method
April 5, 2020 a computer is sold for $425.00: its original cost was, $1,800.00; accumulated depreciation through April 5, 2020, $1,500.00. To record the sale what journal entry is made?
Debit Store Equipment $2,225.00; Credit Cash, $425.00 Credit Gain on Plant Assets $125.00, Credit Accum. Depr.-Store Equpment $1,675
Debit Store Equipment, $1,800.00, Debit Gain on Plant Assets, $125; Credit Accum. Depr. - Store Equipment, $1,500.00, Credit Cash, $425.00
Debit Gain on Plant Assets, $125.00, Debit Accum. Depr. - Store Equpment $1675.00; Credit Store Equipment, $2,225.00
Debit Accum. Depr. - Store Equipment, 1,500.00, Debit Cash, $425.00; Credit Store Equipment, $1,800.00, Credit Gain on Plant Assets, $125.00
Examine the image. What is does the $60.00 represent?
The balance of Accumulated Depr. - Store Equipment
The yearly straight-line depreciation on store equipment.
The partial year 's depreciation on store equipment.
The salvage value of the store equipment.
Examine the image. How much is the estimated disposal value of this Display Case?
$250.00
$3,000.00
$600.00
$850.00
Examine the plant asset record. What is the first step in completing this type of record on any plant asset?
Record the year's annual depreciation expense
Record section 2 information
Complete the Annual Depreciation Column
Complete Section 1 with all the required data
Calculate the (7 month) partial year Depreciation Expense of an asset that cost $3,250.00 with an estimated salvage value of $250.00 and a useful life of 5 years using the straight-line method.
$250.00
$350.00
$150.00
$50.00
Calculate the 1st year deprecation of an asset that cost $25,000.00 with a 5 year useful life and a $2,500.00 estimated salvage value, using the 40% double declining-balance method.
$4,500.00
$375.00
$10,000.00
$15,000.00
