Reference no: EM132769894
Question - The cost of equipment purchased by Splish, Inc., on June 1, 2020, is $107,100. It is estimated that the machine will have a $6,300 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 50,400, and its total production is estimated at 672,000 units. During 2020, the machine was operated 7,500 hours and produced 68,700 units. During 2021, the machine was operated 6,870 hours and produced 60,000 units.
Compute depreciation expense on the machine for the year ending December 31, 2020, and the year ending December 31, 2021, using the following methods.
(a) Straight-line
(b) Units-of-output
(c) Working hours
(d) Sum-of-the-years'-digits
(e) Double-declining-balance (twice the straight-line rate)
|
Organizations are struggling to reduce
: Organizations are struggling to reduce and right-size their information foot-print, using data governance techniques like data cleansing and de-duplication.
|
|
What amount of goodwill should be recognized
: On that date, English had net assets with fair value of $750,000 but a book value and a tax basis of $500,000. What amount of goodwill should be recognized
|
|
Developed to measure risk mitigation effectiveness
: The metrics you have developed to measure risk mitigation effectiveness must also be used for audit purposes
|
|
Why is the information important
: Reflective inquiry allows for expansion in self-awareness, identification of knowledge gaps, and assessment of learning goals. Each week, you will reflect upon.
|
|
Compute depreciation expense on the machine for the year
: Compute depreciation expense on the machine for the year ending December 31, 2020, and the year ending December 31, 2021
|
|
Characteristics of successful ig program
: Identification and the introduction of the Principles, and the characteristics of a successful IG program.
|
|
What interest rate must you earn to have
: Suppose you have a 1-year old son and you want to provide $200,000 in 17 years towards his college education. You currently have $20,000 to invest
|
|
Program controls-monitoring-auditing and enforcement
: In policy development, program Controls, Monitoring, Auditing, and Enforcement, we must gather metrics to determine the level of employee compliance,
|
|
Determine the amount of the impairment loss
: Impairment for non-financial assets - Determine the amount of the impairment loss that needs to be recognized by December 31, 2021
|