Homework Answers
c.capitalized in the machine account.
any improvement to machine which increases its production capacity can be capitalized.
In the given case though the life of the machine is not increased, it increases the production capacity and can be capitalized.
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An improvement made to a machine increased its fair value and its production capacity by 25%...
Plant assets often require expenditures subsequent to acquisition. It is important that they be accounted for...
Plant assets often require expenditures subsequent to acquisition. It is important that they be accounted for property. Any errors will affect both the balance sheets and income statements for a number of years. For each of the following items, indicate whether the expenditure should be capitalized or expensed in the period incurred. Items Improvement (a) (b) Replacement of a minor broken part on a machine Expenditure that increases the useful life of an existing asset. (d) Expenditure that increases the...
June 23 La machine in 2014 when the machine washa cost of $5.500 because of defective...
June 23 La machine in 2014 when the machine washa cost of $5.500 because of defective w h e Cost of the machinery was $14.200 in 2014. The con of the this amount was charged to the Machinery account in 2014 One of the buildings is repainted at a cost of $6.900 had not been a constructed in 2016. this amo of the machof $5.500 cons of the buildicharged Instructions Prepare general journal entries for the transactions. (Round to the...
please , help with these exercises . thanks repare general journal entries for the transactions. (Round...
please , help with these exercises . thanks
repare general journal entries for the transactions. (Round to t to acquis come statem Durile 1. Land sile E10-23 (L05) (Analysis of Subsequent Expendare is important that they be accounted for properly. Any analysis of Subsequent Expenditures) Plant assets often require expec accounted for properly. Any errors will affect both the balance sheera real estate ag were recover number of years the land val at a cost of Instructions in the for...
Wickland Company installa a manufacturing machine in its production facility at the beginning of the year...
Wickland Company installa a manufacturing machine in its production facility at the beginning of the year at a cost of $93,000. The machine's useful life is estimated to be 20 years, or 390,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 15,600 units of product. Determine the machine's second year depreciation under the straight-line method.
Interest costs can be capitalized on interest incurred during the period of construction on loans for...
Interest costs can be capitalized on interest incurred during the period of construction on loans for self-constructed assets. interest incurred on notes payable used to purchase inventory for resale. interest incurred on installment loans secured by assets currently used in operations. none of these choices; interest charges must always be expensed. Companies record depreciation on equipment to bring the asset's book value to its fair market value. allocate its cost to expense over its useful life. recognize gains in its...
Minor $135.000. The Company installs a machine in its factory at the beginning of the year...
Minor $135.000. The Company installs a machine in its factory at the beginning of the year at a cost of The machine's useful life is estimated to be 5 years, or 300,000 units of product, with 000 salvage value. During its first year, the machine produces 64,500 units of product Sermine the machines first year depreciation expense under the double-declining balance at the $15.000 salvage irst year's first yeated to method. A) S66,000. B) $54,000. C) $24.000, D) $25,800. E)...
Question 4 (1 point) The replacement of a major component increased the productive capacity of production...
Question 4 (1 point) The replacement of a major component increased the productive capacity of production equipment from 10 units per hour to 18 units per hour. The expenditure should be debited to: Repairs expense. Maintenance expense. Equipment. Gain from repairs Question 5 (1 point) Depreciation. depletion, and amortization: All refer to the process of allocating the cost of long-term assets used in the business over future periods. All generally use the same methods of cost allocation Are all handled...
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year...
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost o $86,800. The machine's useful life is estimated at 20 years, or 404,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 34,400 units of product. Determine the machine's second-year depreciation using the units-of-production method.
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year...
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $154,000. The machine's useful life is estimated to be 5 years, or 370,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 59,200 units of product. Determine the machines' second year depreciation under the straight-line method.
Exercise 8-5 Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory...
Exercise 8-5 Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $52,500. The machine's useful life is estimated at 5 years, or 415,000 units of product, with a $11,000 salvage value. During its second year, the machine produces 41,500 units of product. Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Denominator: = Choose Numerator: Annual Depreciation Expense Depreciation expense per unit...
Plant assets often require expenditures subsequent to acquisition. It is important that they be accounted for property. Any errors will affect both the balance sheets and income statements for a number of years. For each of the following items, indicate whether the expenditure should be capitalized or expensed in the period incurred. Items Improvement (a) (b) Replacement of a minor broken part on a machine Expenditure that increases the useful life of an existing asset. (d) Expenditure that increases the...
June 23 La machine in 2014 when the machine washa cost of $5.500 because of defective w h e Cost of the machinery was $14.200 in 2014. The con of the this amount was charged to the Machinery account in 2014 One of the buildings is repainted at a cost of $6.900 had not been a constructed in 2016. this amo of the machof $5.500 cons of the buildicharged Instructions Prepare general journal entries for the transactions. (Round to the...
please , help with these exercises . thanks
repare general journal entries for the transactions. (Round to t to acquis come statem Durile 1. Land sile E10-23 (L05) (Analysis of Subsequent Expendare is important that they be accounted for properly. Any analysis of Subsequent Expenditures) Plant assets often require expec accounted for properly. Any errors will affect both the balance sheera real estate ag were recover number of years the land val at a cost of Instructions in the for...
Minor $135.000. The Company installs a machine in its factory at the beginning of the year at a cost of The machine's useful life is estimated to be 5 years, or 300,000 units of product, with 000 salvage value. During its first year, the machine produces 64,500 units of product Sermine the machines first year depreciation expense under the double-declining balance at the $15.000 salvage irst year's first yeated to method. A) S66,000. B) $54,000. C) $24.000, D) $25,800. E)...
Question 4 (1 point) The replacement of a major component increased the productive capacity of production equipment from 10 units per hour to 18 units per hour. The expenditure should be debited to: Repairs expense. Maintenance expense. Equipment. Gain from repairs Question 5 (1 point) Depreciation. depletion, and amortization: All refer to the process of allocating the cost of long-term assets used in the business over future periods. All generally use the same methods of cost allocation Are all handled...
Exercise 8-5 Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $52,500. The machine's useful life is estimated at 5 years, or 415,000 units of product, with a $11,000 salvage value. During its second year, the machine produces 41,500 units of product. Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Denominator: = Choose Numerator: Annual Depreciation Expense Depreciation expense per unit...
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