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GFOA CPFO Exam - Topic 12 Question 74 Discussion

An ISF has the following capital equipment in service for the stated time. Based upon the information below, using the straight-line method, what should be charged for depreciation at year-end?
A) $8,155
B) $6,438
C) $4,267
D) $2,171

GFOA CPFO Exam - Topic 12 Question 74 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 74
Topic #: 12
[All CPFO Questions]

An ISF has the following capital equipment in service for the stated time. Based upon the information below, using the straight-line method, what should be charged for depreciation at year-end?

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Suggested Answer: A

by Kayleigh at Aug 30, 2023, 07:26 PM

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Selma
10 months ago
I thought depreciation would be higher for that equipment.
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Amie
10 months ago
Totally agree with B! It just makes sense.
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Chau
11 months ago
Wait, are we sure about those numbers? Seems off to me.
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Trevor
11 months ago
I think it should be option B, $6,438.
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Brynn
11 months ago
Depreciation is calculated using the straight-line method based on the asset's useful life.
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Quiana
11 months ago
I’m pretty confident that the answer is $4,267, but I need to double-check my calculations to be sure.
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Rosann
12 months ago
I feel like I’ve seen a question like this before, and I think the answer was around $6,000, but I can’t recall the details.
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Leah
12 months ago
I think the straight-line method is just the cost minus salvage value divided by useful life, but I’m a bit confused about the numbers given.
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Jennifer
12 months ago
I remember we practiced a similar question on straight-line depreciation, but I’m not sure about the exact formula to use here.
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Luther
12 months ago
I'm confident I can work through this step-by-step. The key is breaking it down and applying the straight-line method correctly for each asset.
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Joana
12 months ago
Okay, I think I got this. I'll take the original cost, divide by the useful life, and that will give me the annual depreciation for each asset.
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Laquita
12 months ago
Hmm, not sure how to handle the different useful lives here. Do I need to do a separate calculation for each one?
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Karl
12 months ago
This looks straightforward - I just need to calculate the straight-line depreciation for each asset and add them up.
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Nan
12 months ago
Wait, do I need to prorate the depreciation for the partial year on the computer equipment? This seems a bit tricky.
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Nancey
1 year ago
The Waterfall model might not be the best choice since it requires a clear understanding of requirements upfront. If the customer is unsure, that could lead to issues later on.
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Dominga
1 year ago
I lean towards option A since it mentions stream processing, but the requirement focuses on detecting non-employees, so does that make the others better?
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Celestine
1 year ago
This looks like a straightforward question on Azure AD authentication. I'm pretty confident I can handle this one.
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Justine
1 year ago
This is a tough one. I'm torn between BigQuery and Cloud Bigtable. Both seem to have the right features, but I'm not sure which one would be better for the specific requirements of this use case. I'll need to do some more research on the pros and cons of each option.
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Pamella
1 year ago
Wait, is this a trick question? I mean, who actually has this much capital equipment just lying around? Must be one heck of an ISF!
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Laine
1 year ago
Piece of cake! Straight-line depreciation is my jam. Though I have to admit, the question itself looks like it's straight out of an accountant's worst nightmare.
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Delsie
1 year ago
No, I believe it's A) $8,155
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Leigha
1 year ago
B) $6,438
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Essie
1 year ago
I think it's A) $8,155
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Youlanda
1 year ago
A) $8,155
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Jordan
1 year ago
Ugh, depreciation calculations? Really? I'd rather be doing literally anything else. But I guess I gotta put my game face on and get this done.
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King
1 year ago
C) $4,267
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Luisa
1 year ago
B) $6,438
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Jessenia
1 year ago
A) $8,155
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Rebbeca
1 year ago
Alright, time to flex my accounting muscles! Let's see, we've got the capital equipment and the time period, so it should be a straightforward calculation.
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Dick
1 year ago
C) $4,267
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Gwenn
1 year ago
B) $6,438
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Kandis
1 year ago
A) $8,155
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Wilford
1 year ago
Hmm, I think I need to pull out my calculator for this one. Straight-line depreciation can be tricky, but I'm sure I can figure it out.
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Raylene
1 year ago
I think it's A) $8,155.
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Pamela
1 year ago
A) $8,155
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Kimberely
1 year ago
I'm not sure, but I think the answer might be B) $6,438 because the equipment might have depreciated less than expected.
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Alease
1 year ago
I agree with Craig, the equipment has been in service for a long time so the depreciation amount should be higher.
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Craig
2 years ago
I think the answer is A) $8,155.
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