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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
3 months ago
I thought depreciation would be higher for that equipment.
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Amie
3 months ago
Totally agree with B! It just makes sense.
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Chau
4 months ago
Wait, are we sure about those numbers? Seems off to me.
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Trevor
4 months ago
I think it should be option B, $6,438.
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Brynn
4 months ago
Depreciation is calculated using the straight-line method based on the asset's useful life.
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Quiana
4 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
4 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
5 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
5 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
5 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
5 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
5 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
5 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
5 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
5 months 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
5 months 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
5 months 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
5 months 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
9 months 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
9 months 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
8 months ago
No, I believe it's A) $8,155
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Leigha
8 months ago
B) $6,438
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Essie
8 months ago
I think it's A) $8,155
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Youlanda
9 months ago
A) $8,155
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Jordan
10 months 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
9 months ago
C) $4,267
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Luisa
9 months ago
B) $6,438
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Jessenia
9 months ago
A) $8,155
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Rebbeca
10 months 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
8 months ago
C) $4,267
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Gwenn
9 months ago
B) $6,438
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Kandis
9 months ago
A) $8,155
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Wilford
10 months 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
10 months ago
I think it's A) $8,155.
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Pamela
10 months ago
A) $8,155
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Kimberely
11 months 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
11 months 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
11 months ago
I think the answer is A) $8,155.
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