Annual depreciation computed by the straight line method

Assignment Help Financial Accounting

Reference no: EM131267761

Stright line depreciation

A refrigerator used by a meat processor has a cost of $60,000, and estimated value of $12,600, and an estimated useful life of 12 years.

What is the amount of the annual depreciation computed by the straight line method?

Reference no: EM131267761

Questions Cloud

Paid off in regular quarterly payments : A mortgage that was orignally $20000 is being paid off in a regular quarterly payments of $500. The interest rate is 8% compounded quarterly. How much of the principal remains after 9 years, or 36 payments?

Gross margin-operating income-deprecation expense : Here is the assumptions and data; Sales Revenue Year 1: $10,000,000 Annual Growth Rate There after: 4.5%. For year 1: Advertising: $500,000 Payroll: $2,500,000 Utilities: $150,000 Services: $150,000. Assume an annual growth rate of 3% for all of thes..

Prepare appropriate entries for mid-south urologists group : Rand Medical manufactures lithotripters. Lithotripsy uses shock waves instead of surgery to eliminate kidney stones. Physicians' Leasing purchased a lithotripter from Rand for $1,940,000 and leased it to Mid-South Urologists Group, Inc., on January 1..

Prepare entry to record any unrealized holding gain or loss : Shonen Knife Corporation has elected to use the fair value option for one of its notes payable. The note was issued at an effective rate of 11% and has a carrying value of $16,000. At year-end, Shonen Knife's borrowing rate (credit risk) has declined..

Annual depreciation computed by the straight line method : A refrigerator used by a meat processor has a cost of $60,000, and estimated value of $12,600, and an estimated useful life of 12 years. What is the amount of the annual depreciation computed by the straight line method?

Repay this loan than you had originally planned : You owe $6,800on a car loan that has an interest rate of 6.75 percent and monthly payments of $310. You lost your job and your new job pays less, so your lender just agreed to lower the monthly payments to $225 while keeping the interest rate at 6.75..

Calculate depreciation expense using straight-line method : Togo's Sandwiches acquired equipment on April 1, 2018, for $18,000. The company estimates a residual value of $2,000 and a five year service life. Calculate depreciation expense using the straight-line method for 2018 and 2019, assuming a December 31..

Calculate the amount of the bank service charge : The cash account in the general ledger of XYZ Company shows a balance of $18,700 at June 30, 2004. Error in recording check #6301 from a customer. The check was received from a customer who was paying for services performed by XYZ Company. Calculate ..

Compute a schedule of operating cash flows : BioCom, Inc. is weighing a proposal to manufacture and market a fiber-optic device that will continuously monitor blood pressure during cardiovascular surgery and other medical procedures in which precise, real-time measurements are critical. Compute..

User Account

All Pages