Determine the service life of an asset under straight line

Assignment Help Accounting Basics
Reference no: EM13216080

What is the service life on an asset? How do we determine the service life of an asset under straight line and activity based depreciation? Give an example of how a business might determine the service life under straight line and activity based depreciation for an asset they just purchased.

Reference no: EM13216080

Questions Cloud

Relationship between the independent and dependent variable : Interpret the Regression equation results including the intercept, slope and the Coefficient of Determination. Test to determine if there is a significant negative relationship between the independent and dependent variable
Explain what strategy or combination of strategies : What strategy (or combination of strategies) did Harley-Davidson use to become such a successful organization? To what extent has Harley-Davidson's strategy (or combination of strategies) changed over the years, or been constant?
Find the number of viewers that represents 75% : Find the number of viewers that represents the 75th percentile and on one particular night, 24 million people watched 60 minutes. Is this unusual?
Explain disadvantage of the pure project organization : Explain the assertion that one (1) disadvantage of the pure project organization is the project professionals' tendency to fall behind in areas of technical expertise that they do not use on projects
Determine the service life of an asset under straight line : What is the service life on an asset How do we determine the service life of an asset under straight line and activity based depreciation Give an example of how a business might determine the service life under straight line and activity based dep..
Find the probability that a randomly selected trading value : Find the probability that a randomly selected trading value exceeds 4.1 million and find the trading volume greater than 90% of all trading volumes. Use formula X1 = Z σ + µ
Point of averages of a scatterplot : The point of averages of a scatterplot of Y against X is (14, 1 ). The SD of X is 6, and the SD of Y is 7.
Explain lower of cost-market method of evaluating inventory : Explain the lower of cost or market method of evaluating inventory. Give an example of when LCM would be used. What is meant by the assertion that LCM is an example of the principle of conservatism Explain
Explain political and economic and financial risks : Provide a summary of your findings regarding investing risk (Political, Economic, and Financial Risks) of this company investing in India in the form of a PowerPoint presentation (5-8 slices). Provide sources

Reviews

Write a Review

Accounting Basics Questions & Answers

  How is annual cash inflow determined

How is annual cash inflow determined?

  Would you advise the organization to replace the system

The company estimates the system's current salvage value to be $1,500. A new computer system will cost $10,000 and is expected to have a useful life of five years, with no salvage value. Annual cash operating costs are $4,000 for the old system an..

  Are inquiry and observation by the auditor valid types

Are inquiry and observation by the auditor valid types of evidence and are they better or worst than say documentation provided by the client?

  Prepare all necessary journal entries in 2010

Holmes, Inc. obtained significant influence over Nadal Corporation by buying 25% of Nadal's 30,000 outstanding shares of common stock at a total cost of $9 per share on January 1, 2010. On June 15, Nadal declared and paid a cash dividend of $36,00..

  Provide the journal entry for the asset revaluation

The capital accounts of Hope and Indiana have balances of $115,000 and $95,000, respectively. Clint and Casey are to be admitted to the partnership.

  Detailed explanation of equivalent units

Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units. There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with res..

  Amount of purchased differential amortization

What is the amount of purchased differential amortization included in the calculation of investment income on Schneide's book in 2005 and 2006?

  Estimate of the stock price per share

If the company has 25 million shares of stock outstanding, what is the best estimate of the stock's price per share?

  Compute the depreciation expense for the years

Compute the depreciation expense for the years indicated using the following methods. (Round to the nearest dollar.)

  Calculate nonseperately computed income

McKain, Inc., a calendar year S corporation, incurs the following items. Calculate McKain's nonseperately computed income.

  How dividends be reported

If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2004, what are the dividends in arrears that should be reported on the December 31, 2007, balance sheet? How should these dividends be reporte..

  Inventories reflected by accounting records

Carly Manufacturing Company's accounting records reflect the following inventories:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd