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ABM130-001 Fall 2020...
with explanation please I am very confused 120,000 $2 = 30,000 B. Fill in the table...
with explanation please I am very confused
120,000 $2 = 30,000 B. Fill in the table using the straight-line & partial-year methods given the purchase date was October 1, 2020 Remaining value at Depreciation end of year Remaining value at Year beginning of year 2020-Oct 1 to Dec 31 2021 2022 2023 2024 2025 Jan 1 to Sept 30 Purchase price $750,000 useful life= 5 years Purchase date - Jant, 2020 Salvage value1150,000 Note show your work in the space...
1. In 2020, Johnson Co purchased a machine used for manufacturing for $1,000,000. This machine had...
1. In 2020, Johnson Co purchased a machine used for manufacturing for $1,000,000. This machine had a useful life of 8 years and had a salvage value of $50,000. Johnson uses the half-year convention. Prepare a schedule showing the depreciation expense, accumulated depreciation, and the Book Value of the asset over its life under the following 2 methods (round all amounts to the nearest dollar): a. Straight-line depreciation I b. Double declining Balance Method (Switch over to straight line depreciation...
if you could also show how to do the years 2024 and 2025 Ivanhoe Bus Lines...
if you could also show how to do the years 2024 and 2025
Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $140,000. Over its 4-year useful life, the bus is expected to be driven 240,000 miles. Salvage value is expected to be $9,200. . Your answer is incorrect. Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251) Depreciation cost per...
Problem 10-03A a-c On January 1, 2020, Flint Company purchased the following two machines for use...
Problem 10-03A a-c
On January 1, 2020, Flint Company purchased the following two
machines for use in its production process.
Machine A:
The cash price of this machine was $46,000. Related
expenditures included: sales tax $3,250, shipping costs $200,
insurance during shipping $110, installation and testing costs $90,
and $100 of oil and lubricants to be used with the machinery during
its first year of operations. Flint estimates that the useful life
of the machine is 5 years with a...
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that...
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that had a useful life of 5 years. The machine has an estimated salvage value at the end of its useful life of $35,000. The company's year-end is December 31. At the time the machine was purchased, it was estimated that the machine could produce 2,000,000 units of product over its useful life. Actual production over the life of the machine was as follows: Year...
Please Show all work for part B :) Problem 9-08A (Part Level Submission) In recent years,...
Please Show all work for part B :)
Problem 9-08A (Part Level Submission) In recent years, Cullumber Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Depreciation Method Useful Life (In years) Salvage Value Acquired Cost Machine Straight-line 10 $34,000 $134,000 Jan. 1, 2020 1...
answer all parts fully. thank you! Please first analyze cash flows for Project L. Then calculate...
answer all parts fully. thank you!
Please first analyze cash flows for Project L. Then calculate NPV and IRR, and make your capital budgeting decision. To study the health-food market, Allied has done a market research in 2019. This market research costed Allied $10k. The research confirmed Allied's previous belief that the health-food industry has a huge potential and will be a highly profitable industry. Therefore, Allied is considering a new expansion project. Proiect L, which is a new health-food...
Need help with the boxes highlighted in red. Thanks! Show Attempt History Current Attempt in Progress...
Need help with the boxes highlighted in red. Thanks!
Show Attempt History Current Attempt in Progress On December 31, 2020, Pina Company acquired a computer from Plato Corporation by issuing a $660,000 zero-interest-bearing note, payable in full on December 31, 2024. Pina Company's credit rating permits it to borrow funds from its several lines of credit at 10%. The computer is expected to have a 5-year life and a $73,000 salvage value. Your answer is correct Prepare the journal entry...
Please answer this fully. This is a major final project so it's crucial I get it...
Please answer this fully. This is a major final project so it's
crucial I get it right. Thank you so much!
You are working in a strategic management role at Best Bean, Inc., a chain of coffee shops. Your team is considering expanding in 2020 by building one or more new retail outlets in the Detroit area. Four locations (A, B, C, and D) are being considered. Locations A, B, and Care ten year investments, with income projections shown in...
On January 1, 2020, Windsor Company purchased the following two machines for use in its production...
On January 1, 2020, Windsor Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $43,500. Related expenditures included: sales tax $3,550, shipping costs $150, insurance during shipping $50, installation and testing costs $100, and $200 of oil and lubricants to be used with the machinery during its first year of operations. Windsor estimates that the useful life of the machine is 5 years with a $5,250 salvage value...
with explanation please I am very confused
120,000 $2 = 30,000 B. Fill in the table using the straight-line & partial-year methods given the purchase date was October 1, 2020 Remaining value at Depreciation end of year Remaining value at Year beginning of year 2020-Oct 1 to Dec 31 2021 2022 2023 2024 2025 Jan 1 to Sept 30 Purchase price $750,000 useful life= 5 years Purchase date - Jant, 2020 Salvage value1150,000 Note show your work in the space...
1. In 2020, Johnson Co purchased a machine used for manufacturing for $1,000,000. This machine had a useful life of 8 years and had a salvage value of $50,000. Johnson uses the half-year convention. Prepare a schedule showing the depreciation expense, accumulated depreciation, and the Book Value of the asset over its life under the following 2 methods (round all amounts to the nearest dollar): a. Straight-line depreciation I b. Double declining Balance Method (Switch over to straight line depreciation...
if you could also show how to do the years 2024 and 2025
Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $140,000. Over its 4-year useful life, the bus is expected to be driven 240,000 miles. Salvage value is expected to be $9,200. . Your answer is incorrect. Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251) Depreciation cost per...
Problem 10-03A a-c
On January 1, 2020, Flint Company purchased the following two
machines for use in its production process.
Machine A:
The cash price of this machine was $46,000. Related
expenditures included: sales tax $3,250, shipping costs $200,
insurance during shipping $110, installation and testing costs $90,
and $100 of oil and lubricants to be used with the machinery during
its first year of operations. Flint estimates that the useful life
of the machine is 5 years with a...
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that had a useful life of 5 years. The machine has an estimated salvage value at the end of its useful life of $35,000. The company's year-end is December 31. At the time the machine was purchased, it was estimated that the machine could produce 2,000,000 units of product over its useful life. Actual production over the life of the machine was as follows: Year...
Please Show all work for part B :)
Problem 9-08A (Part Level Submission) In recent years, Cullumber Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Depreciation Method Useful Life (In years) Salvage Value Acquired Cost Machine Straight-line 10 $34,000 $134,000 Jan. 1, 2020 1...
answer all parts fully. thank you!
Please first analyze cash flows for Project L. Then calculate NPV and IRR, and make your capital budgeting decision. To study the health-food market, Allied has done a market research in 2019. This market research costed Allied $10k. The research confirmed Allied's previous belief that the health-food industry has a huge potential and will be a highly profitable industry. Therefore, Allied is considering a new expansion project. Proiect L, which is a new health-food...
Need help with the boxes highlighted in red. Thanks!
Show Attempt History Current Attempt in Progress On December 31, 2020, Pina Company acquired a computer from Plato Corporation by issuing a $660,000 zero-interest-bearing note, payable in full on December 31, 2024. Pina Company's credit rating permits it to borrow funds from its several lines of credit at 10%. The computer is expected to have a 5-year life and a $73,000 salvage value. Your answer is correct Prepare the journal entry...
Please answer this fully. This is a major final project so it's
crucial I get it right. Thank you so much!
You are working in a strategic management role at Best Bean, Inc., a chain of coffee shops. Your team is considering expanding in 2020 by building one or more new retail outlets in the Detroit area. Four locations (A, B, C, and D) are being considered. Locations A, B, and Care ten year investments, with income projections shown in...
On January 1, 2020, Windsor Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $43,500. Related expenditures included: sales tax $3,550, shipping costs $150, insurance during shipping $50, installation and testing costs $100, and $200 of oil and lubricants to be used with the machinery during its first year of operations. Windsor estimates that the useful life of the machine is 5 years with a $5,250 salvage value...
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