User Account

All Pages

Kelm company purchased a new machine on october

Assignment Help Accounting Basics
Reference no: EM131140538

Kelm Company purchased a new machine on October 1, 2010, at a cost of $120,000.The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life.

Instructions

Compute the depreciation expense under the following methods for the year indicated.

(a) Straight-line for 2010.

(b) Units-of-activity for 2010, assuming machine usage was 1,700 hours.

(c) Declining-balance using double the straight-line rate for 2010 and 2011. 

Reference no: EM131140538

Questions Cloud

Jerry grant the new controller of blackburn company : Prepare the entry (or entries) to record depreciation on the building in 2010.
Question related to ethics : Christine showed a check made out to Marcella for that amount and marked "void." Would you rule in Christine's favor on this claim? Why or why not?
What is purpose of policy or the perceived need for policy : What is the purpose of the policy or the perceived "need" for the policy? (in case it is still a proposal and not an existing policy)
Brainiac company purchased a delivery truck : Brainiac Company purchased a delivery truck for $30,000 on January 1, 2010.The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years.
Kelm company purchased a new machine on october : Kelm Company purchased a new machine on October 1, 2010, at a cost of $120,000.The company estimated that the machine will have a salvage value of $12,000.
What type of tax structure is best for texas and why : Should Texas overhaul its laws dealing with marijuana and legalize it? Why or why not? What type of tax structure is best for Texas? Why
Find another value of t consistent with the information : If not, find another value of T consistent with the information given.
Compute the depreciation cost per unit : Prepare a depreciation schedule assuming actual mileage was: 2010, 26,000; 2011, 32,000; 2012, 25,000; and 2013, 17,000.
Is the united state ploicy against isis : Is the united state ploicy against ISIS? Who are the stakholedrs of ISIS? What is the purpose of the ISIS? is the pirpose of the United State policy?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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