Alteran corporation purchased office equipment

Assignment Help Accounting Basics

Reference no: EM131020831

Alteran Corporation purchased office equipment for $1.3 million in 2013. The equipment is being depreciated over a 8-year life using the sum-of-the-years'-digits method. The residual value is expected to be $100,000. At the beginning of 2016, Alteran decided to change to the straight-line depreciation method for this machine.

Required:

Prepare the 2016 depreciation adjusting entry.

Reference no: EM131020831

Questions Cloud

Present value of an annuity : Find the present value of the following ordinary annuities. Round your answers to the nearest cent. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. This ..

Treasury notes or the portfolio of zeroes : Suppose an investor would like to buy 200 Treasury notes. The investor wants notes with an annual coupon rate of 7%, a 3-year maturity, and semi-annual coupon payments. Now suppose there is a 3-year, 7% coupon rate Treasury note available that has a ..

Three key figures on the cash flow statement : Which of the three key figures on the Cash Flow Statement is the most important for assessing the financial health of the business? Select one: a. Cash flow from investing activities b. Cash flow from financing activities c. Cash flow from operating ..

Expectation of the rate of return on the stock : Investors expect the market rate of return this year to be 13.50%. The expected rate of return on a stock with a beta of 1.7 is currently 22.95%. If the market return this year turns out to be 11.20%, how would you revise your expectation of the rate..

Alteran corporation purchased office equipment : Alteran Corporation purchased office equipment for $1.3 million in 2013. The equipment is being depreciated over a 8-year life using the sum-of-the-years'-digits method.

How much profit did he make on his investment : Jason Mathews purchased 150 shares of the Hodge & Mattox Energy fund. Each share cost $24.25. Fifteen months later, he decided to sell his shares when the share value reached $28.50. a. What is the amount of his total initial investment? b. What was ..

What is the dollar amount of fees or expense ratio : The Yamaha Aggressive Growth fund has a 1.78 percent expense ratio. a. If you invest $15,000 in this fund, what is the dollar amount of fees (expense ratio) that you would pay this year? b. Based on the information in this chapter, the lecture, and y..

What is the expected return and standard deviation of return : You manage an equity fund with an expected risk premium of 11.6% and a standard deviation of 30%. The rate on Treasury bills is 6.2%. Your client chooses to invest $60,000 of her portfolio in your equity fund and $140,000 in a T-bill money market fun..

A lease agreement calls for quarterly lease payments : What would be the amount of interest revenue the lessor would record in conjunction with the second quarterly payment at October 1?

User Account

All Pages