Alpha alpha alpha a college fraternity purchased a new

Assignment Help Accounting Basics
Reference no: EM13391805

Alpha Alpha Alpha, a college fraternity, purchased a new heavy-duty washing machine on January 1, 20X3. The machine, which cost $2,000, had an estimated residual value of $100 and an estimated service life of 4 years (1,800 washing cycles). Calculate the following:

a. The machine's book value on December 31, 20X5, assuming use of the straight-line depreciation method

b. Depreciation expense for 20X4, assuming use of the units-of-output depreciation method. Actual washing cycles in 20X4 totaled 500.

c. Accumulated depreciation on December 31, 20X5, assuming use of the double-declining-balance depreciation method.

Reference no: EM13391805

Questions Cloud

The january beginning invenshytory of white company : the january beginning invenshytory of the white company consisted of 300 units costing 40 each. during the first
Boston galleries employs the specific identification method : boston galleries uses the specific identification method for inventory valuation. inventory information for several oil
Write down a short paper 1-2 pages which explains the : write a short paper 1-2 pages that describes the application of one of the four management principles to an him
Analyze the mortality trends in the us and compare the : 1. analyze the growing consumer demographics in a diverse u.s. society in terms of consumer satisfaction with health
Alpha alpha alpha a college fraternity purchased a new : alpha alpha alpha a college fraternity purchased a new heavy-duty washing machine on january 1 20x3. the machine which
Montgomery company bought electric wax melter on april 30 : montgomery company purchased an electric wax melter on april 30 2013 by trading in its old gas model and paying the
What did you learn from the interactive tutorial regarding : which of the principles of management functions do you see as the most important? is one more important than another?
Compute pv present value of the two bonds from this little : bart simpson has a choice between two bonds-bond a and bond b. both bonds have a future value of 1000. bond a earns 4
Explain how the business risks differ between traditional : as the rate of innovation increases companies face expanding productservice lines shorter product and service

Reviews

Write a Review

Accounting Basics Questions & Answers

  Finding corporate strategy from annual reports

Review an annual report of a popular company ie. Target, Kohl's Bass Pro shops, and answer the following questions with references:

  Compare company ratio results to industry averages

The chosen company is Apple Inc. The purpose of the comprehensive project is to use resources available to obtain industry averages for commonly used ratios. Additionally you will compare company ratio results to industry averages

  Comstock company purchased 1000 units of its product for 6

comstock company purchased 1000 units of its product for 6 per unit. comstock sold 800 units for 10 per unit.a. what

  Tax research-planning-compliance activities

Which of the following serves as the highest authority for tax research, planning, and compliance activities?

  Capm-required rate of return on stock

Assume that the risk-free rate is 6 percent and the expected return on the market is 13 percent. What is the required rate of return on a stock that has a beta of 1.2?

  Differences-nol-allocation methods and taxes

What are the permanent and temporary differences? What is NOL? Why does it occur? What are the allocation methods? What are the deferred tax assets and deferred tax liability?

  Problem respect to the capitalized lease

Penn accordingly accounted for this lease transaction as a capital lease. The lease payments were determined to have a present value of $671,008 at an effective interest rate of 8%. With respect to this capitalized lease, Penn should record for 20..

  Tax consequences of qualifying stock redemption

What are the tax consequences of a qualifying stock redemption to the distributing corporation?

  Determining the functional currency

Selvey inc is a completely owned subsidiary of parsfield incorporated a us firm. The country where selvey operates is deemed to have a highly inflationary economy under FASB statement no. 52. Therefore,the functional currency is :

  Determining inventoriable cost per unit

Variable selling and administrative expenses are $1 per unit, and fixed selling and administrative costs are $3,000 in total. According to generally accepted accounting principles, inventoriable cost per unit of Big would be:

  Questioncarol benton marcia diamond and sue knox work for a

questioncarol benton marcia diamond and sue knox work for a family physician dr. gwen conrad who is in private

  Set up necessary t accounts

A business paid 100 to cash to Karen Smith (the owner of the business) for her personal use. Set up the necessary T accounts and show how this transaction would be recorded directly to those accounts

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