Compute depreciation for year

Assignment Help Financial Accounting
Reference no: EM133234335

A machine costing $216,800 with a four-year life and an estimated $20,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 492,000 units of product during its life. It actually produces the following units: 121,700 in Year 1, 123,700 in Year 2, 119,900 in Year 3, 136,700 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference was not predicted. Note: The machine cannot be depreciated below its estimated salvage value.

Required:

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places. Round your answers to the nearest whole dollar.)

Reference no: EM133234335

Previous Q& A

  Def insurance for the loss of canned products

ABC limited which operates a supermarket received compensation from DEF Insurance for the loss of canned products destroyed by an accident in its warehouse. For

  Write essay describing your vision for your career

UNV-504 Introduction to Graduate Studies in the College of Business Assignment - Three Pillars and Future Impact Paper, Grand Canyon University

  What is the ocf for year of project

Evong homes INC is considering a new three-year-old project, that requires an initial fixed asset investment of 2.7 million dollars.

  Selected company financial health

Select a public company and look up the company's stock's performance over the last year. Discuss which company you selected and its performance.

  Prepare general journal entries to record transactions

J. Aracel, the owner, invested $155,000 cash, office equipment with a value of $5,300, and $64,000 of drafting equipment to launch the company.

  Discuss the operations management challenge

Discuss the operations management challenge when operating in a global setting. This discussion must consider one challenge when tangible goods are produced in

  Write a paper on a specific issue of gender inequality

Gender Inequality Issue Paper and Presentation: Paper: You will write a paper on a specific issue of Gender inequality. Name or label specific gender inequality

  Determine bond pricing at par

In your own wrds Defin coupon and market/effective interest rates as they determine bond pricing at par, premium, or discount values

  Analyze effects of events on accounting equation

During February 2015, Claude Sample who operates a sports clinic presented the following for the first month of his company's operation:

  Describe a situation of ethical dilemma

Describe a situation of ethical dilemma that you have experienced in practice and how it was resolved (related to nursing, medicine)

Reviews

Write a Review

 

Similar Q& A

  Find the activity variance for revenue

Find the activity variance for revenue? Describe this variance and find the spending variance for the cost of ingredients? Describe this variance.

  Find and determine a provision should be recognised

For the above transactions and events determine whether a provision should be recognised and provide a rationale for your response.

  How much is the depreciation expense for rainbow corporation

Straight-line depreciation is used by Rainbow Corporation for its PPE. On Jan. 1, 2021, the balances of the PPE. How much is the depreciation expense?

  Show how the convertible loan notes will reflect

Show how the convertible loan notes will reflect in the 2019 financial statements in accordance with IFRS 7 and 9; Financial Instruments and Disclosures

  Calculate the amount of tax expense as charged in statement

Calculate the amount of tax expense as charged in the Statement of Profit or Loss and Other Comprehensive Income and the amount disclosed

  What decisions could make about a child daycare business

What decisions could you make about a child daycare business using time value of money concepts? Provide an illustration of how you would apply time value

  Illustrate what adjustments are needed for financial

at which time the fair values of the equipment and building as of the acquisition date are revised to $180,000 and $550,000, respectively. At the end of 2012, illustrate what adjustments are needed for the financial statements for the period endin..

  Market price of scornick''s common stock

The market price of Scornick's common stock subsequently declined by 40 percent.

  Record journal entries for first interest payment on june

Record the journal entries for first interest payment on June 30. On January 1, Iota Co. issued five-year bonds with a face amount of $500

  Costs charged to work in process-computation using cost data

The inventory at June 1 and costs charged to work in process-Department 60 during june are as follows: Determine the following, presenting your computations (prepare your computations using unit cost data to four decimal places, I.e $4.4444, to minim..

  Determine the amount of income for the year ended December

If Heart receives P80,000 in the distribution of profits, determine the amount of income for the year ended December 31, 2020

  Identify and research one not-for-profit organization

Identify and research one (1) not-for-profit organization and provide the Web link to the most recent financial report of the organization. Provide at least two (2) examples of the statements either following or not following the guidance provided by..

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