1. Vaughn Company purchased a new van for floral deliveries on January 1, 2018. The van cost $67000 with an estimated life of 5 years and $13400 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2018?

$21440

$10720

$26800

$13400

5. Sheridan Company purchased equipment for $918000 on January 1, 2017, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $45000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2019 will be

$110880.

$102000.

$65880.

$57000.

6. Equipment was purchased for $141000. Freight charges amounted to $7500 and there was a cost of $20200 for building a foundation and installing the equipment. It is estimated that the equipment will have a $29900 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be

$22220.

$27760.

$22660.

$33740.

7. Equipment was purchased for $157000. Freight charges amounted to $7400 and there was a cost of $19000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $30500 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be

$30580.

$26120.

$36680.

$25300.

8. Equipment was purchased for $88000 on January 1, 2018. Freight charges amounted to $4500 and there was a cost of $9200 for building a foundation and installing the equipment. It is estimated that the equipment will have a $14200 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2019, if the straight-line method of depreciation is used?

$14860

$17500

$35000

$29720

10.

Coronado Corporation bought equipment on January 1, 2018. The equipment cost $370000 and had an expected salvage value of $60100. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is

$51650.

$209900.

$370000.

$309900.

11.

Marigold Company purchased machinery with a list price of $95200. They were given a 10% discount by the manufacturer. They paid $420 for shipping and sales tax of $4500. Marigold estimates that the machinery will have a useful life of 10 years and a residual value of $30500. If Marigold uses straight-line depreciation, annual depreciation will be

$6010.

$9070.

$5968.

$5518.

12.

Swifty Company purchased equipment on January 1, 2018, at a total invoice cost of $1110000. The equipment has an estimated salvage value of $32000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2019, if the straight-line method of depreciation is used?

$215600

$444000

$431200

$222000