Homework Answers
Total Weight = 5 + 4 + 3 + 2 + 1 = 15
Depreciation at March 31, 2020 = $ 453,000 * 5 / 15
= $ 151,000
Depreciation at March 31, 2021 = $ 453,000 * 4 / 15
= $ 120,800
Total Depreciation = $ 151,000 + $ 120,800 = $ 271,800
Add Answer to:
Current Attempt in Progress On April 1. 2019. Coronado Industries purchased new machinery for $453000. The...
On April 1, 2019. Coronado Industries purchased new machinery for $453000. The machinery has an estimated...
On April 1, 2019. Coronado Industries purchased new machinery for $453000. The machinery has an estimated useful life of five years, and depreciation is computed by the sum of the years' digits method. The accumulated depreciation on this machinery at March 31, 2021, should be O $271800 $151000 5302000 $181200
Current Attempt in Progress On January 1, 2017, Oriole Company purchased a new machine for $4220000....
Current Attempt in Progress On January 1, 2017, Oriole Company purchased a new machine for $4220000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $152000. Depreciation was computed using the sum-of-the-years.digits method. What amount should be shown in Oriole's balance sheet at December 31, 2018, net of accumulated depreciation, for this machine? Question 4 View Policies Current Attempt in Progress During 2017, Coronado Industries acquired a mineral mine for...
Current Attempt in Progress On January 2, 2015 Bonita Industries acquired equipment to be used in...
Current Attempt in Progress On January 2, 2015 Bonita Industries acquired equipment to be used in its manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated salvage value of $46300. The depreciation applicable to tra equipment was $213500 for 2018.computed under the sum-of-the-years digits method. What was the couisition cost of the ecument Current Attempt in Progress . The machinery old on May 1, 2018 in 2000 Crane Company purchased machinery for $1270000 on...
Question 19 View Policies Current Attempt in Progress Vaughan Manufacturing purchased a depreciable asset for $593000...
Question 19 View Policies Current Attempt in Progress Vaughan Manufacturing purchased a depreciable asset for $593000 on April 1, 2015. The estimated salvaevalis 550000, and the estimated totalus accumulated depreciation on May 1, 2018 when the asset is sold life is 5 years. The straight-ine method is used for depreciation. What is the balanc Question 17 View Policies Current Attempt in Progress On January 2, 2015. Bonita Industries acquired equipment to be used in its manufacturing operations. The equipment has...
Current Attempt in Progress Coronado Industries is contemplating the replacement of an old machine with a...
Current Attempt in Progress Coronado Industries is contemplating the replacement of an old machine with a new one. The following information has been gathered: New Machine Old Machine $260000 $520000 Price Accumulated 78000 -0- Depreciation Remaining useful life 10 years -0- Useful life -0 10 years Annual operating $156000 $215000 costs If the old machine is replaced, it can be sold for $20800. The company uses straight-line depreciation with a zero salvage value for all of its assets. The net...
Question 10 View Policies Current Attempt in Progress Tamarisk Company purchased a new plant asset on...
Question 10 View Policies Current Attempt in Progress Tamarisk Company purchased a new plant asset on April 1, 2020, at a cost of $759.000. It was estimated to have a service life of 20 years and a salvage value of $61,800. Tamarisk' accounting period is the calendar year. Compute the depreciation for this asset for 2020 and 2021 using the sum-of-the-years-digits method (Round answers to decimal places, e.g. 45,892.) Depreciation for 2020 $ Depreciation for 2021 $ e Textbook and...
Current Attempt in Progress On September 19, 2017 Swifty Corporation purchased machinery for $480000. Salvage value...
Current Attempt in Progress On September 19, 2017 Swifty Corporation purchased machinery for $480000. Salvage value was estimated to be $25000. The machinery will be depreciated over eight years using the sum of the years.dipits method of depreciation is computed on the basis of the nearest full month. Swifty should record depreciation expense for 2018 on this machinery of View Policies Current Attempt in Progress Crane Company purchased machinery for $1270000 on January 1, 2014 Straight line depreciation has been...
Current Attempt in Progress Marigold Corporation purchased machinery on January 1, 2022, at a cost of...
Current Attempt in Progress Marigold Corporation purchased machinery on January 1, 2022, at a cost of $266,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $31,600. The company is considering different depreciation methods that could be used for financial reporting purposes Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation End of...
Question 8 0.67/1 View Policies Show Attempt History Current Attempt in Progress Machinery purchased for $72,600...
Question 8 0.67/1 View Policies Show Attempt History Current Attempt in Progress Machinery purchased for $72,600 by Kingbird Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,840 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,445 at the end of that time. Assume...
Question 5 --/1 View Policies Current Attempt in Progress Oriole Corp. purchased machinery for $381,000 on...
Question 5 --/1 View Policies Current Attempt in Progress Oriole Corp. purchased machinery for $381,000 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value of $18,000, production of 290,400 units, and working hours of 25,000. During 2021, Oriole Corp. uses the machinery for 2,650 hours, and the machinery produces 30,600 units. From the information given, compute the depreciation charge for 2021 under each of the following methods. (Round intermediate calculations...
On April 1, 2019. Coronado Industries purchased new machinery for $453000. The machinery has an estimated useful life of five years, and depreciation is computed by the sum of the years' digits method. The accumulated depreciation on this machinery at March 31, 2021, should be O $271800 $151000 5302000 $181200
Current Attempt in Progress On January 1, 2017, Oriole Company purchased a new machine for $4220000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $152000. Depreciation was computed using the sum-of-the-years.digits method. What amount should be shown in Oriole's balance sheet at December 31, 2018, net of accumulated depreciation, for this machine? Question 4 View Policies Current Attempt in Progress During 2017, Coronado Industries acquired a mineral mine for...
Current Attempt in Progress On January 2, 2015 Bonita Industries acquired equipment to be used in its manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated salvage value of $46300. The depreciation applicable to tra equipment was $213500 for 2018.computed under the sum-of-the-years digits method. What was the couisition cost of the ecument Current Attempt in Progress . The machinery old on May 1, 2018 in 2000 Crane Company purchased machinery for $1270000 on...
Question 19 View Policies Current Attempt in Progress Vaughan Manufacturing purchased a depreciable asset for $593000 on April 1, 2015. The estimated salvaevalis 550000, and the estimated totalus accumulated depreciation on May 1, 2018 when the asset is sold life is 5 years. The straight-ine method is used for depreciation. What is the balanc Question 17 View Policies Current Attempt in Progress On January 2, 2015. Bonita Industries acquired equipment to be used in its manufacturing operations. The equipment has...
Current Attempt in Progress Coronado Industries is contemplating the replacement of an old machine with a new one. The following information has been gathered: New Machine Old Machine $260000 $520000 Price Accumulated 78000 -0- Depreciation Remaining useful life 10 years -0- Useful life -0 10 years Annual operating $156000 $215000 costs If the old machine is replaced, it can be sold for $20800. The company uses straight-line depreciation with a zero salvage value for all of its assets. The net...
Question 10 View Policies Current Attempt in Progress Tamarisk Company purchased a new plant asset on April 1, 2020, at a cost of $759.000. It was estimated to have a service life of 20 years and a salvage value of $61,800. Tamarisk' accounting period is the calendar year. Compute the depreciation for this asset for 2020 and 2021 using the sum-of-the-years-digits method (Round answers to decimal places, e.g. 45,892.) Depreciation for 2020 $ Depreciation for 2021 $ e Textbook and...
Current Attempt in Progress On September 19, 2017 Swifty Corporation purchased machinery for $480000. Salvage value was estimated to be $25000. The machinery will be depreciated over eight years using the sum of the years.dipits method of depreciation is computed on the basis of the nearest full month. Swifty should record depreciation expense for 2018 on this machinery of View Policies Current Attempt in Progress Crane Company purchased machinery for $1270000 on January 1, 2014 Straight line depreciation has been...
Current Attempt in Progress Marigold Corporation purchased machinery on January 1, 2022, at a cost of $266,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $31,600. The company is considering different depreciation methods that could be used for financial reporting purposes Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation End of...
Question 8 0.67/1 View Policies Show Attempt History Current Attempt in Progress Machinery purchased for $72,600 by Kingbird Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,840 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,445 at the end of that time. Assume...
Question 5 --/1 View Policies Current Attempt in Progress Oriole Corp. purchased machinery for $381,000 on May 1, 2020. It is estimated that it will have a useful life of 10 years, salvage value of $18,000, production of 290,400 units, and working hours of 25,000. During 2021, Oriole Corp. uses the machinery for 2,650 hours, and the machinery produces 30,600 units. From the information given, compute the depreciation charge for 2021 under each of the following methods. (Round intermediate calculations...
Most questions answered within 3 hours.
-
what is IoT? How is it being used today? How will it be used in
the...
asked 8 minutes ago -
Please answer the four questions below.
1. If you were going to test a method that...
asked 22 minutes ago -
Provide two or three examples of support he uses to reinforce
his arguments?
The Alienation of...
asked 30 minutes ago -
QUESTION 1
Why do we see terms with multiple names in the database
community?
Consistency is...
asked 25 minutes ago -
In a titration experiment, 11.5 mL of 0.400 M H2SO4 neutralized
48.0 mL of NaOH. What...
asked 29 minutes ago -
A shot-putter throws the shot with a horizontal velocity of 10
m/s and a
vertical velocity...
asked 45 minutes ago -
Mildred sells industrial-sized refrigeration units. Her
prospective buyer's face looks tense, and his forehead is wrinkled....
asked 46 minutes ago -
Clark Heter is an industrial engineer at Lyons Products. He
would like to determine whether there...
asked 1 hour ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 1 hour ago -
Jensen and Associates has a projected balance
sheet that includes the following accounts. What is the...
asked 1 hour ago -
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 1 hour ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 1 hour ago