# 51 feelgood corp purchased equipment on january 1 2011 for 275 000 it was estimated 4306209

51) FeelGood Corp. purchased equipment on January 1, 2011 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end. Assuming the double-declining-balance depreciation method is used, what is the net book value (carrying value) of the asset on December 31, 2012?

A) \$66,000

B) \$99,000

C) \$110,000

D) \$165,000

52) Historic Pieces Inc. purchased equipment on January 1, 2012 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end. Assuming the company uses straight-line depreciation, what is the depreciation expense for 2012?

A) \$27,500

B) \$50,000

C) \$55,000

D) \$60,000

53) Bountiful Limited purchased equipment on January 1, 2009 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end. Assuming the company uses straight-line depreciation, what is the net book value of the asset on December 31, 2012?

A) \$125,000

B) \$75,000

C) \$55,000

D) \$50,000

54) Fantasmic Moulds purchased equipment on January 1, 2009 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end.

 Year Units of Output 2009 2,100 2010 2,000 2011 1,700 2012 2,300 2013 1,900

Assuming the company uses the units-of-production depreciation method, what is the depreciation expense for 2009?

A) \$25.00

B) \$27.50

C) \$52,500

D) \$57,750

55) Fantasy Limited purchased equipment on January 1, 2009 for \$275,000. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output, with no residual value. The company has a December 31 year end.

 Year Units of Output 2009 2,100 2010 2,000 2011 1,700 2012 2,300 2013 1,900

Assuming the company uses the units-of-production depreciation method, what is the depreciation expense for 2009?

A) \$25.00

B) \$27.50

C) \$52,500

D) \$57,750

56) AccountingPro purchased equipment on January 1, 2009 for \$275,000. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output, with no residual value. The company has a December 31 year end.

 Year Units of Output 2009 2,100 2010 2,000 2011 1,700 2012 2,300 2013 1,900

Assuming the company uses the units-of-production depreciation method, what is the depreciation rate per unit for 2013?

A) \$25.00

B) \$27.50

C) \$47,500

D) \$52,250

57) Billu Limited purchased equipment on January 1, 2009 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end.

 Year Units of Output 2009 2,100 2010 2,000 2011 1,700 2012 2,300 2013 1,900

Assuming the company uses the units-of-production depreciation method, calculate the accumulated depreciation at the end of 2012.

A) \$57,500

B) \$63,250

C) \$202,500

D) \$222,750

58) Ceila Manufacturing purchased equipment on January 1, 2011 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end. Assuming the company uses the double-declining-balance depreciation method, what is the depreciation expense for 2012?

A) \$66,000

B) \$99,000

C) \$110,000

D) \$165,000

59) ReelGood Corp. purchased equipment on January 1, 2012 for \$275,000. It was estimated that the equipment would have a residual value of \$25,000 at the end of its useful life. The asset&#39;s useful life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end. Assuming the double-declining-balance depreciation method is used, what is the net book value (carrying value) of the asset on December 31, 2012?

A) \$66,000

B) \$99,000

C) \$110,000

D) \$165,000

60) Welcome Corporation purchased equipment for \$267,000. The equipment is estimated to have a useful life of 10 years and a residual value of \$27,000. Welcome uses straight-line depreciation and has a December 31 year end. On January 1, 2012, the net book value of the equipment is \$211,000. What is the date of purchase of the equipment?

A) January 1, 2008

B) September 1, 2008

C) September 30, 2008

D) September 1, 2009