Homework Answers
Correct answer----------$8,750
Working
| Straight line Method - for year 1 | ||
| A | Cost | $ 50,000 |
| B | Residual Value | $ 10,000 |
| C=A - B | Depreciable base | $ 40,000 |
| D | Life [in years left ] | 8 |
| E=C/D | Annual SLM depreciation | $ 5,000.00 |
For year 2 and onwards
| Straight line Method -For year 2 | ||
| A | Ending book value at year 1 end | $ 45,000 |
| B | Residual Value | $ 10,000 |
| C=A - B | Depreciable base | $ 35,000 |
| D | Life [in years left ] (5-1) | 4 |
| E=C/D | Annual SLM depreciation | $ 8,750.00 |
Add Answer to:
same pools of quiz questions to study Graded and ungraded quizze Crewirem the same pools of...
Ubquizzu JOULLO 200... rmining your course grade. n after the chapter's graded quiz closes, an identical ungraded q...
Ubquizzu JOULLO 200... rmining your course grade. n after the chapter's graded quiz closes, an identical ungraded quiz opens so that students can continue using! ne pools of quiz questions to study Graded and ungraded quizzes draw from the same pools of questions nching assistants (TAs) are also available to help students with graded and ungraded quiz questions. 0.5 pts D Question 7 York Corporation issues $3,500,000 of 20-year, 6% bonds dated January 1 at 107. The journal entry to...
ching assistants (TAs) are also available to help students with graded and ungraded quiz questions. Question...
ching assistants (TAs) are also available to help students with graded and ungraded quiz questions. Question 10 0.5 pts Banana Company paid $200,000 for a machine a few years ago. This year, the machine was completely destroyed in a fire. At the date of the fire, the accumulated depreciation on the machine was $80,000. An insurance check for $100,000 was received as a result of the fire. No journal entry for the casualty was recorded until Banana Company received the...
Ubquizzu JOULLO 200... rmining your course grade. n after the chapter's graded quiz closes, an identical...
Ubquizzu JOULLO 200... rmining your course grade. n after the chapter's graded quiz closes, an identical ungraded quiz opens so that students can continue using! ne pools of quiz questions to study Graded and ungraded quizzes draw from the same pools of questions nching assistants (TAs) are also available to help students with graded and ungraded quiz questions. 0.5 pts D Question 7 York Corporation issues $3,500,000 of 20-year, 6% bonds dated January 1 at 107. The journal entry to...
At the beginning of 2017, Blue Spruce Corp. acquired equipment costing $83,600. It was estimated that...
At the beginning of 2017, Blue Spruce Corp. acquired equipment costing $83,600. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $8,360 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the company's engineers reconsidered their expectations and estimated...
Problem 9-4A At the beginning of 2013, Mazzaro Company acquired equipment costing $105,400. It was estimated...
Problem 9-4A At the beginning of 2013, Mazzaro Company acquired equipment costing $105,400. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $10,540 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2015 (the third year of the equipment's life), the company's engineers reconsidered their expectations and...
Your answer is partially correct. Try again. At the beginning of 2017, Pina Colada Corp. acquired...
Your answer is partially correct. Try again. At the beginning of 2017, Pina Colada Corp. acquired equipment costing $110,400. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $11,040 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the...
CALCULATOR INTER VERSION BACK MET Problem 9.04A At the beginning of 2010. Marigold Corp. acquired eviment...
CALCULATOR INTER VERSION BACK MET Problem 9.04A At the beginning of 2010. Marigold Corp. acquired eviment couting $175,600. It was estimated that this couipment would have a useful life of years and a salvage value of $17,560 that time. The straight line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year During 2020 (the third year of the equipment's life), the company's engineers...
please help with these accouting questions! 3 IV ab X, X 1 Styles Styles Pane S...
please help with these accouting questions!
3 IV ab X, X 1 Styles Styles Pane S 11. Equipment was purchased for $150,000. Freight charges amounted to $7,000 and there was a cost of $20,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $30,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be A) $35,400. B) $29,400 C) $24,600 D) $24,000....
Required information [The following information applies to the questions displayed below.) Ramirez Company installs a computerized...
Required information [The following information applies to the questions displayed below.) Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine's useful life is estimated at 10 years, or 385.000 units of product, with a $5,000 salvage value. During its second year, the machine produces 32,500 units of product. Determine the machine's second-year depreciation and year end book value under the straight line method. Straight-Line Depreciation Choose...
Gandolfi Construction Co. purchased a CAT 336DL earth mover at a cost of $1,000,000 in January...
Gandolfi Construction Co. purchased a CAT 336DL earth mover at a cost of $1,000,000 in January 2019. The company's estimated useful life of this heavy equipment is 8 years, and the estimated salvage value is $200,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized for 2019, the first year of the equipment's life, and calculate the equipment's net book value at December 31, 2021, after the third year of the equipment's life. Depreciation expense Net book...
Ubquizzu JOULLO 200... rmining your course grade. n after the chapter's graded quiz closes, an identical ungraded quiz opens so that students can continue using! ne pools of quiz questions to study Graded and ungraded quizzes draw from the same pools of questions nching assistants (TAs) are also available to help students with graded and ungraded quiz questions. 0.5 pts D Question 7 York Corporation issues $3,500,000 of 20-year, 6% bonds dated January 1 at 107. The journal entry to...
ching assistants (TAs) are also available to help students with graded and ungraded quiz questions. Question 10 0.5 pts Banana Company paid $200,000 for a machine a few years ago. This year, the machine was completely destroyed in a fire. At the date of the fire, the accumulated depreciation on the machine was $80,000. An insurance check for $100,000 was received as a result of the fire. No journal entry for the casualty was recorded until Banana Company received the...
Ubquizzu JOULLO 200... rmining your course grade. n after the chapter's graded quiz closes, an identical ungraded quiz opens so that students can continue using! ne pools of quiz questions to study Graded and ungraded quizzes draw from the same pools of questions nching assistants (TAs) are also available to help students with graded and ungraded quiz questions. 0.5 pts D Question 7 York Corporation issues $3,500,000 of 20-year, 6% bonds dated January 1 at 107. The journal entry to...
At the beginning of 2017, Blue Spruce Corp. acquired equipment costing $83,600. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $8,360 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the company's engineers reconsidered their expectations and estimated...
Problem 9-4A At the beginning of 2013, Mazzaro Company acquired equipment costing $105,400. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $10,540 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2015 (the third year of the equipment's life), the company's engineers reconsidered their expectations and...
Your answer is partially correct. Try again. At the beginning of 2017, Pina Colada Corp. acquired equipment costing $110,400. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $11,040 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the...
CALCULATOR INTER VERSION BACK MET Problem 9.04A At the beginning of 2010. Marigold Corp. acquired eviment couting $175,600. It was estimated that this couipment would have a useful life of years and a salvage value of $17,560 that time. The straight line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year During 2020 (the third year of the equipment's life), the company's engineers...
please help with these accouting questions!
3 IV ab X, X 1 Styles Styles Pane S 11. Equipment was purchased for $150,000. Freight charges amounted to $7,000 and there was a cost of $20,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $30,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be A) $35,400. B) $29,400 C) $24,600 D) $24,000....
Required information [The following information applies to the questions displayed below.) Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine's useful life is estimated at 10 years, or 385.000 units of product, with a $5,000 salvage value. During its second year, the machine produces 32,500 units of product. Determine the machine's second-year depreciation and year end book value under the straight line method. Straight-Line Depreciation Choose...
Gandolfi Construction Co. purchased a CAT 336DL earth mover at a cost of $1,000,000 in January 2019. The company's estimated useful life of this heavy equipment is 8 years, and the estimated salvage value is $200,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized for 2019, the first year of the equipment's life, and calculate the equipment's net book value at December 31, 2021, after the third year of the equipment's life. Depreciation expense Net book...
Most questions answered within 3 hours.
-
In C++ code language please:
1. Created a linked list
2. Insert 5 values: 1, 10,...
asked 4 seconds from now -
By analogy with automobiles, defects in cancer critical genes
have been likened to broken brakes and...
asked 20 minutes ago -
Supposing Delta is an example of a very large US commercial
airline, how does the magnitude...
asked 24 minutes ago -
The total amount of shares that a corporation's charter allows
it to issue is:
Issued.
Authorized....
asked 25 minutes ago -
Which of the following statements is false? Explain what is
wrong with the statement.
a. A...
asked 33 minutes ago -
Vincent Simmons appeals from the trial court's order awarding to
his wife, Dorothy Simmons, a one-half...
asked 34 minutes ago -
A group of researchers has developed a method that they
hypothesize will improve the reading ability...
asked 35 minutes ago -
When 1 Liter volumes of the below solutions are mixed, which
will result in the precipitation...
asked 37 minutes ago -
A truck moving at 45 m/s passes a police car moving at 36 m/s in
the...
asked 36 minutes ago -
By using specific examples, explain how multinational firms
balance (or not as the case may be)...
asked 38 minutes ago -
Given X ~ Exp(1/8), we survey 100 at a time and are interested
in the distribution...
asked 56 minutes ago -
The size of an array declaration must be know by the computer at
_______ time.
runtime...
asked 46 minutes ago