Reference no: EM131140539
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. Actual miles driven were 15,000 in 2010 and 12,000 in 2011.
Instructions
(a) Compute depreciation expense for 2010 and 2011 using
(1) The straight-line method,
(2) The units-of-activity method, and
(3) The double-declining balance method.
(b) Assume that Brainiac uses the straight-line method.
(1) Prepare the journal entry to record 2010 depreciation.
(2) Show how the truck would be reported in the December 31, 2010, balance sheet.
|
What changes would you propose and why
: Select one of the following public policy issues and assess its effectiveness. If you were president, what changes would you propose and why?
|
|
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.
|