Homework Answers
| 9 | |||
| Double declining depreciation rate | 33.33% | =1/6*2 | |
| Amortization for 2015 | 13333 | =40000*33.33% | |
| Amortization for 2016 | 8889 | =(40000-13333)*33.33% | |
| Book value at the end of 2016 | 17778 | =40000-13333-8889 | |
| Option E $17,778 is correct | |||
| 10 | |||
| Straight line annual Amortization | 6000 | =(40000-4000)/6 | |
| Cash | 26500 | ||
| Accumulated amortization,machine | 12000 | =6000*2 | |
| Loss on sale of machine | 1500 | ||
| Machine | 40000 | ||
| Option B is correct |
Add Answer to:
On January 1, 2015, Zane Manufacturing Company purchased a machine for $40,000. The company expects to...
n January 1, 2013, Bark Manufacturing Company Ltd. purchased a machine for $27,500, and expects to use the machine a to...
n January 1, 2013, Bark Manufacturing Company Ltd. purchased a machine for $27,500, and expects to use the machine a total of 32,000 hours over the next four years. Bark set the residual value on the machine at $3, 500. Bark used the machine 6,000 hours in 2013 and 7,200 hours in 2014. 4. What is the amortization expense for 2014 if Bark uses double-declining-balance amortization? A) $6,875 B) $13,750 C) $12,000 D) $6,000 E) $3,500 eh nt 5. What...
On January 1, 2015, a machine was purchased for $101,700. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $101,700. The machine has an estimated salvage value of $6,780 and an estimated useful life of 5 years. The machine can operate for 113,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,600 hrs; 2016, 28,250 hrs; 2017, 16,950 hrs; 2018, 33,900 hrs; and 2019, 11,300 hrs.Please show calculations for all problems below. 1) Compute the annual...
bison blue company purchased a machine on January 1, 2016 for 240000 Qison Blue Company purchased...
bison blue company purchased a machine on January 1, 2016 for
240000
Qison Blue Company purchased a machine on January 1, 2016 for $240.000. It is expected to have a useful life of 5 years, or 25,000 operating hours, and a salvage value of $15,000. Required Compute the depreciation expense for the below methods and years. Each letter is independent of the other. A. Straight-line method - Years 3. Year 3 B. Units-of-production method, Years 2 and 3. Year 2_...
On January 1, 2015, a machine was purchased for $96,300. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $96,300. The
machine has an estimated salvage value of $6,420 and an estimated
useful life of 5 years. The machine can operate for 107,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2015, 21,400 hrs;
2016, 26,750 hrs; 2017, 16,050 hrs; 2018, 32,100 hrs; and 2019,
10,700 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
Wildcats, Inc, purchased a ew truck on January 1, 2015, at a cost of $75,000. The...
Wildcats, Inc, purchased a ew truck on January 1, 2015, at a cost of $75,000. The truck's estimated useful life at the time of the purchase was 4 years, with an estimated salvage value of $5,000. The truck was estimated to have a production capacity of 20,000 units, with the expectation of production over the life as follows: 2015-5,000 units, 2016-4,000 units, 2017-4,000 units, 2018-7,000 units Straight Line Year Depreciable Base SL Rate Annual Dep. Expense Accumulated Depreciation NBV 2015...
Problem 11-11 On January 1, 2015, a machine was purchased for $90,900. The machine has an...
Problem 11-11 On January 1, 2015, a machine was purchased for $90,900. The machine has an estimated salvage value of $6,060 and an estimated useful life of 5 years. The machine can operate for 101,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 20,200 hrs; 2016, 25,250 hrs; 2017, 15,150 hrs; 2018, 30,300 hrs; and 2019, 10,100 hrs. Compute the annual depreciation charges over the machine’s...
Problem 11-11 On January 1, 2015, a machine was purchased for $90,900. The machine has an...
Problem 11-11 On January 1, 2015, a machine was purchased for $90,900. The machine has an estimated salvage value of $6,060 and an estimated useful life of 5 years. The machine can operate for 101,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 20,200 hrs; 2016, 25,250 hrs; 2017, 15,150 hrs; 2018, 30,300 hrs; and 2019, 10,100 hrs. Compute the annual depreciation charges over the machine’s...
On January 1, 2015, a machine was purchased for $99,900. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $99,900. The machine has an estimated salvage value of $6,660 and an estimated useful life of 5 years. The machine can operate for 111,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,200 hrs; 2016, 27,750 hrs; 2017, 16,650 hrs; 2018, 33,300 hrs; and 2019, 11,100 hrs. Part 1 Your answer is correct. Compute the annual depreciation...
On January 1, 2015, a machine was purchased for $100,800. The machine has an estimated salvage...
On January 1, 2015, a machine was purchased for $100,800. The machine has an estimated salvage value of $6,720 and an estimated useful life of 5 years. The machine can operate for 112,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,400 hrs; 2016, 28,000 hrs; 2017, 16,800 hr Your answer is partially correct. Try again. Compute the annual depreciation charges over the machine's life assuming...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company that uses a calendar year purchases equipment with an acquisition cost of $85,000 that it estimates will produce 800,000 units over its 8-year life and have a residual value of $6,000 You are depreciating the asset for book purposes. 46. If the company uses the straight-line method, 2016 depreciation a. $10,625 b. $10,000 c. $7,969 d. $7,500 47. If the company uses units of...
n January 1, 2013, Bark Manufacturing Company Ltd. purchased a machine for $27,500, and expects to use the machine a total of 32,000 hours over the next four years. Bark set the residual value on the machine at $3, 500. Bark used the machine 6,000 hours in 2013 and 7,200 hours in 2014. 4. What is the amortization expense for 2014 if Bark uses double-declining-balance amortization? A) $6,875 B) $13,750 C) $12,000 D) $6,000 E) $3,500 eh nt 5. What...
bison blue company purchased a machine on January 1, 2016 for
240000
Qison Blue Company purchased a machine on January 1, 2016 for $240.000. It is expected to have a useful life of 5 years, or 25,000 operating hours, and a salvage value of $15,000. Required Compute the depreciation expense for the below methods and years. Each letter is independent of the other. A. Straight-line method - Years 3. Year 3 B. Units-of-production method, Years 2 and 3. Year 2_...
On January 1, 2015, a machine was purchased for $96,300. The
machine has an estimated salvage value of $6,420 and an estimated
useful life of 5 years. The machine can operate for 107,000 hours
before it needs to be replaced. The company closed its books on
December 31 and operates the machine as follows: 2015, 21,400 hrs;
2016, 26,750 hrs; 2017, 16,050 hrs; 2018, 32,100 hrs; and 2019,
10,700 hrs.
Compute the annual depreciation charges over the machine’s life
assuming...
On January 1, 2015, a machine was purchased for $100,800. The machine has an estimated salvage value of $6,720 and an estimated useful life of 5 years. The machine can operate for 112,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,400 hrs; 2016, 28,000 hrs; 2017, 16,800 hr Your answer is partially correct. Try again. Compute the annual depreciation charges over the machine's life assuming...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company that uses a calendar year purchases equipment with an acquisition cost of $85,000 that it estimates will produce 800,000 units over its 8-year life and have a residual value of $6,000 You are depreciating the asset for book purposes. 46. If the company uses the straight-line method, 2016 depreciation a. $10,625 b. $10,000 c. $7,969 d. $7,500 47. If the company uses units of...
Most questions answered within 3 hours.
-
Completely and thoroughly explain how control charts could be
used by a company that makes eyeglass...
asked 2 minutes from now -
Explain how the equilibrium loanable funds interest rate is
determined? Please draw a picture of what...
asked 35 seconds from now -
Below is the trial balance of Tom’s Tents at 5 April 2018.
£
£
Trading account:...
asked 8 minutes ago -
For this question, we want to implement the basic
java classes to support the concept of an...
asked 9 minutes ago -
Two random variables X and Y have joint density function f(x,y)
=c(where c >0 denotes an...
asked 11 minutes ago -
Bonita Corporation issued 1,900 shares of $10 par value common
stock upon conversion of 950 shares...
asked 16 minutes ago -
When finding confidence interval for mu , if population standard
deviation (sigma) is known, we use...
asked 45 minutes ago -
Convert your enthalpy of reaction (kJ/mol) to heat of explosion
(kJ/kg) using the molar mass of...
asked 31 minutes ago -
At what annual rate would the following have to be
invested?
$8,929, to grow to $55,581,...
asked 30 minutes ago -
If the codon were 5 bases long instead of three, how many codons
would exist in...
asked 36 minutes ago -
Mittuch Corp. is evaluating a project with the following cash
flows. The company uses a discount...
asked 44 minutes ago -
An income elasticity coefficient of −1.8 means the product is a
normal good.
true or false
asked 36 minutes ago