Annual depreciation and end of year accumulation

Assignment Help Accounting Basics
Reference no: EM13129735

On jan 4,2010 a company purchased new equipment for 225,000 that had a useful life of four years and a salvage value of 25,000. prepare a schedule showing the annual depreciation and end of year accumulated depreciation for the first three years of the asset's life under the straight-line method.

Reference no: EM13129735

Questions Cloud

What organic products is formed when methylcyclopentanol : What organic product(s) is formed when 1-methylcyclopentanol is heated in the presence of an acid catalyst?
Define ozonolysis and absorbs two moles of hydrogen : A compound, A, c6h8, yields a single organic product, B, upon ozonolysis and absorbs two moles of hydrogen on catalytic hydrogenation to give C
Withdrawal of cash made by the owner : A withdrawal of cash made by the owner will be found on the:
Draw the structure of the product that would be formed : N-Phenylmaleimide, can act as a dienophile in the Diels-Alder reaction Draw the structure of the product that would be formed by the treatment of N-phenylmaleimide with
Annual depreciation and end of year accumulation : Prepare a schedule showing the annual depreciation and end of year accumulated depreciation for the first three years of the asset's life under the straight-line method.
Prepare the journal entry to record the purchase of the bond : Prepare the journal entry to record the purchase of the bonds by Saxton-Bose on January 1, 2011. Enter your answers in dollars not in millions. Round "PV Factor" to 5 decimal places andfinal answers to the nearest whole dollar amount.
Concept of process costing system : A single product in one department and uses a process costing system. At the start of May, there were 10,000 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (..
Net operating loss to be carried forward : After applying the net operating losses for 2006, 2009 and 2010 to prior years ( if and where permitted), what amount, if any, is available as a net operating loss to be carried forward to future years?
Organic chemistry mechanism and conceptual problems : Organic chemistry mechanism and conceptual problems involving, 1. Write equations to show how nitronium ions might be formed using a mixture of nitric and sulfuric acids.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Tax savings from special tax treatment

Daniel figures that he has loss of $60,000 on each stock. If Daniel's marginal tax rate is 35 percent and he has $120,000 of other capital gains (taxed at 15 percent), what is tax savings from the special tax treatment?

  Computing price and rate of return of stock

Megan made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $2.16 a share.

  Differences between accounting and taxable income

At December 31, 2012, Vermont Industries reported three temporary differences between accounting and taxable income:

  Record dividends payable on common and preferred stock

A total cash dividend of $90,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts.

  High quality of earnings

Your posts are very good and state that management should focus on the success of the business rather than managing income to their benefit. This gets into ethics, where if you keep doing the right thing you will reap the benefits with bonus's and..

  Determining the ending equity

Fast-Forward has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by owners in exchange for stock of $6,000. Its ending equity is:

  Accounting rate of return

LaGrange Corp. has forecasted that over the next four years the average annual after-tax income will be $45,731. The average book value of the manufacturing equipment that is used is $167,095. What is the accounting rate of return?

  Five-year lease agreement

Depreciation is recorded on a straight-line basis at end of each fiscal year. The useful life of equipment is five years.

  Is there a perfect method that be used by all companies

Inventory is an important asset for merchandisers. Considering the various methods of valuing inventory and the flow of merchandise, what are the strengths and weaknesses of each method? Why would a company chose one method over another? Is there ..

  Calculate the amount of each payment

Jason borrows $50000 from his father and promises to pay it back over the next 10 yrs making equal annual end of the year payment .Calculate the amount of each payment if the annual interest rate is 9%.

  Adjusting journal entry to record securities at fair value

Cost and fair value data for the trading securities of Clifford Company at December 31, 2010, are $100,000 and $74,000, respectively. Which of the following correctly presents the adjusting journal entry to record the securities at fair value?

  Calculating tax liability-marginal rate

Williams Inc reports total net income of $130,000 during 2012. This includes $10,000 of income from 5.5% Orange County municipal bonds. Thus the Corporation's taxable income is equal to $120,000.

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