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标题: Reading 37: Long-lived Assets-LOS d 习题精选 [打印本页]

作者: 1215 时间: 2011-3-21 15:21 标题: [2011]Session 9-Reading 37: Long-lived Assets-LOS d 习题精选

Session 9: Financial Reporting and Analysis: Inventories, Long-lived Assets, Income Taxes, and Non-current Liabilities
Reading 37: Long-lived Assets

LOS d: Calculate depreciation expense given the necessary information.

Novak, Inc. owns equipment with a historical cost of $20,000, a useful life of 5 years, and an estimated salvage value of $5,000. Using the double declining balance method, depreciation expense in Year 3 for this equipment is:

A)
$2,880.

B)
$2,200.

C)
$3,000.

DDB depreciation in each year is 2/5 of the carrying value at the beginning of the year, until the carrying value reaches the estimated salvage value.

Year 1 DDB depreciation = $20,000 × 2/5 = $8,000
Carrying value = $20,000 – $8,000 = $12,000

Year 2 DDB depreciation = $12,000 × 2/5 = $4,800
Carrying value = $12,000 – $4,800 = $7,200

Year 3 DDB depreciation = $7,200 × 2/5 = $2,880
Because $7,200 – $2,880 = $4,320 would depreciate the equipment below its salvage value, depreciation in Year 3 is limited to $7,200 – $5,000 = $2,200.

作者: 1215 时间: 2011-3-21 15:22

Czernezyk Company buys a delivery vehicle for

作者: 1215 时间: 2011-3-21 15:22

Component depreciation is required under:

A)
both IFRS and U.S. GAAP.

B)
IFRS, but not U.S. GAAP.

C)
U.S. GAAP, but not IFRS.

IFRS requires firms to use component depreciation, which refers to depreciating the identifiable components of an asset separately. U.S. GAAP permits component depreciation but does not require it.

作者: gaoflex 时间: 2011-11-3 11:28

thank you.

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