On January 1,2021,Freedom Communications purchased a new piece of equi

1.On October 1,2021,Freedom Communications purchased a new piece of equipment that cost$35,000.The estimated useful life is five years and estimated residual value is $8,000.What is the depreciation expense for 2021 if Freedom uses the straight-line method?（）选项： A:$5,400 B:$1,350 C:$1,750 D:$7,000

2.An asset purchased on 1 January for $48,000 has an estimated salvage value of $3,000. The current year's Depreciation Expense is $5,000 and the balance of the Accumulated Depreciation account, after adjustment, is $20,000. If the company uses the straight-line method, what is the asset's remaining useful life?选项： A:9 years B:4 years C:8 years D:5 years

3. Cuso Company purchased equipment on January 1, 2016, at a total invoice cost of$400,000. The equipment has an estimated residual value of $10,000 and an estimated useful life of five years. The amount of Accumulated Depreciation on December 31, 2017, if the straight-line method of depreciation is used, was ( ). 选项： A:

$80,000

B:

$160,000

C:

$78,000

D:

$156,000

4.MCQ-00142Spiro Corp . uses the sum-of-the-years'-digits method to depreciate equipment purchased in January, Year 1, for $20,000 . The estimated salvage value of the equipment is $2,000 and the estimated useful life is four years . What should Spiro report as the asset's carrying amount as of December 31, Year 3? 选项： A:$1,800 B:$2,000 C:$3,800 D:$4,500

5.Rasmus Company purchased equipment for $96000. The estimated useful life is three years, and it is expected to have a salvage value of $ 24000 at the end of its useful life. The depreciation in the third year was $12000. What method of depreciation did Rasmus most likely use（）选项： A、Sum-of-years digits B、Straight Line C、Double-declining balance.

6.A depreciation method in which an equal amount of depreciation expense is assigned to each year of the asset's use is the: 选项： A、units-of-production method. B、straight-line method. C、accelerated depreciation method. D、estimated residual value method.

7.12 (P1)Depreciation expense is calculated using its cost, estimates of an asset's salvage value, and an estimated useful life.

8.The Formula Company purchased a new truck at a cost of €56 000 on October 1, 2011. The truck is estimated to have a useful life of five years and a salvage value of €10 000. How much Depreciation expense will be recorded for the truck during the year ended December 31, 2011 assuming the straight-line method（）。选项：A:€2 300 B:€2 800 C:€9 200 D:€11 200

9.On July 1 of the current year, a company purchased and placed in service a machine with a cost of $240,000. The company estimated the machine's useful life to be four years or 60,000 units of output with an estimated salvage value of $60,000. During the current year, 15,000 units were produced. Prepare the necessary December 31 adjusting journal entry to record depreciation for the current year assuming the company uses:a. The straight-line method of depreciationb. The units-of-production method of depreciationc. The double-declining balance method of depreciation

10.Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be选项： A:A. $14,160.; B:B. $11,760.; C:C. $9,840.; D:D. $9,600.

11.What is the purpose of depreciation accordance with IAS 16 Property, Plant and Equipment? 选项：Allocate the cost less residual value on a systematic basis over the asset's useful life|Write the asset down to its realisable value each period|Accumulate a fund for asset replacement|Recognise that assets lose value over time

12.The main basis for enterprises to calculate depreciation of fixed assets include选项： A:The estimated useful life of the fixed asset ; B:The original value of the fixed asset ; C:The salvage value of the fixed asset ; D:The cost department of the fixed asset; E:The purpose of the fixed asset

13.Capital equipment costing $250,000 today has $50,000 salvage value at the end of five years. If the straight-line depreciation method is used, what is the book value of the equipment at the end of two years?选项： A:$200,000; B:$170,000; C:$140,000; D:$150,000

14.Thomas Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $15,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method. Please to determine the asset's book value on December 31, Year 3.

15.Miguel Rodriguez of MARIO S.A., an Uruguayan corporation, is computing the depreciation expense of a piece of manufacturing equipment for the fiscal year ended 31 December 2009. The equipment was acquired on 1 January 2009. Rodriguez gathers the following information (currency in Uruguayan pesos, UYP): Cost of the equipment UYP 1,200,000 Estimated residual value UYP 200,000 Expected useful life 8 years Total productive capacity 800,000 units Production in FY 2009 135,000 units Expected production for the next 7 years 95,000 units each year If MARIO uses the straight-line method, the amount of depreciation expense on MARIO’s income statement related to the manufacturing equipment is closest to: 选项： A:A 125,000. B:B 150,000. C:C 168,750.

16.In 2021, internal auditors discovered that Fay, Inc., had debited an expense account for the $700,000 cost of a machine purchased on January 1, 2018. The machine's useful life was expected to be five years with no residual value. Straight-line depreciation is used by Fay. The journal entry to correct the error will include a credit to accumulated depreciation of:选项： A:$140,000.; B:$280,000.; C:$420,000.; D:$700,000.

17. The purpose of depreciation is to: 选项： A、 Allocate the cost less residual value on a systematic basis over the asset's useful economic life B、 Write the asset down to its market value each period C、 Charge profits for the use of the asset D、 Recognize that assets lose value over time

18.A company purchased office equipment for $20,000 and estimated a salvage value of $4,000 at the end of its 5-year useful life. The constant percentage to be applied against book value each year if the double-declining-balance method is used is选项： A:A. 20%.; B:B. 25%.; C:C. 40%.; D:D. 4%.

19.Miguel Rodriguez of MARIO S.A., an Uruguayan corporation, is computing the depreciation expense of a piece of manufacturing equipment for the fiscal year ended 31 December 2009. The equipment was acquired on 1 January 2009. Rodriguez gathers the following information (currency in Uruguayan pesos, UYP): Cost of the equipment UYP 1,200,000 Estimated residual value UYP 200,000 Expected useful life 8 years Total productive capacity 800,000 units Production in FY 2009 135,000 units Expected production for the next 7 years 95,000 units each year If MARIO uses the units-of- production method, the amount of depreciation expense (in UYP) on MARIO’s income statement related to the manufacturing equipment is closest to: 选项： A:A 118,750. B:B 168,750. C:C 202,500.

20.At the beginning of last year, Betty Corporation purchased a piece of heavy equipment for $34,000. The equipment has a life of 100,000 hours. The estimated residual value is $4,000. Betty used the equipment for 22,000 hours last year and 25,000 hours this year. Depreciation expense for year 2 using units-of-production would be:

21.Depreciation is the systematic and rational allocation of the cost of a depreciable asset to expense over its estimated useful life.选项： A:正确; B:错误

22.MCQ-00144Rye Co . purchased a machine with a four-year estimated useful life and an estimated 10% salvage value for $80,000 on January 1, Year 2. In its income statement, whatwould Rye report as the depreciation expense for Year 4 using the double-declining- balance method? 选项： A:$9,000 B:$10,000 C:$18,000 D:$20,000