A machine originally had an estimated useful life of 11 years, but after 2 complete years, it was decided that the original estimate of useful life should have been 14 years. At that point the remaining cost to be depreciated should be allocated over the remaining:Multiple Choice11 years.12 years.9 years.5 years.14 years.

Machinery is purchased for $140,000. It is estimated that it has a useful life of 5 years and a residual value of $20,000. Using the straight-line method, the balance in the accumulated depreciation account at the end of the third year of the machine’s useful life is:$68,000$140,000$72,000$24,000

A machine is purchased for $60 000. It is estimated that it has a useful life of 5 years and will then be sold for $5000. Using the straight-line method, calculate the amount of depreciation to be charged for each year of useful life.Group of answer choices$5000$12 000$0$11 000

A company purchases a machine for $10,000. The estimated residual value is $4,000, and the estimated service life is 4 years or 10,000 units. The company uses the straight-line method of depreciation. The depreciable cost of the asset is:Multiple Choice$6,000$10,000$1,000$1,500

A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1, 8,000 hours in year 2, and 6,000 hours in year 3. Required:Calculate its book value at the end of year 3

A factory machine was purchased for P75,000 on January 1, 2008. It was estimated that it would have a P15,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the 5 years. The company ran the machine for 4,000 actual hours in 2008. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2008 would be