Moving to another question will save the response. Question of 10 Question 6 0.5 points A company purchased factory equipment for AED700,000. It is estimated that the equipment will have a AED70,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be AED 280,000 AED120.000 AED160,000 AED 252,000 Question 6 of 10 A Moving to another question will save this response MacBook Pro & 7 V 8 Aga 3 s 4 E 6 7 5 0 P E Y R Remaining Time: 18 minutes, 34 seconds Question completion Status Question 7 of 10 Question 7 05 points A machine is acquired on 1st January 2014 with the cost of AED54,000 with the esimated salvage value (residual value) amounting AED3,000. Life of the asset is expected to be 5 years. The machine is required to produce total 20,000 units during its life time. During the year 2014, only 2,500 units were produced. What will be the amount of depreciation for the year 2014 using units-of-production method? AED5,000 AED5,750 AED6,000 AED6,375 Moving to another question will save this response Question 7 of 10 MacBook Pro $ 3 r 4 E % & 5 0 6 1 6 7 7 V 8 A 8 A 9 0 Question Completion Status: Moving to another question will save this response. Question 8 Accumulated depreciation means depreciation charged on the first year of asset's use. depreciation charged on the second year of asset's use. sum of depreciation charged for all the years up to date. depreciation for the future years Moving to another question will save this response. MacBook Pro esc Question Completion Status: Moving to another question will save this response. Question 9 The calculation of depreciation using the declining balance method, multiplies a declining percentage times a same book value for all years. multiplles a constant percentage times the previous year's depreciation expense. yields an increasing depreciation expense each period. ignores salvage value in determining the amount to which a constant rate is applied. Moving to another question will save this response. MacBook Pro Click Submit to complete this assessment Question 10 The balance in the Accumulated Depreciation account represents the amount to be deducted from the cost of the plant asset to arrive at its fair market value. cash fund to be used to replace plant assets. amount charged to depreciation expense in the current period. amount charged to depreciation expense since the acquisition of the plant asset. Click Submit to complete this assessment. MacBook Pro
