Depreciated and straight-line method

Assignment Help Accounting Basics
Reference no: EM13136959

Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,300 hours?

a) $48,000

b) $52,500

c) $49,500

d) $43,500

Reference no: EM13136959

Questions Cloud

Dutch pension funds holding u.s. government bonds : Explain. Problems and Applications a. Dutch pension funds holding U.S. government bonds b. U.S. manufacturing industries c. Australian tourists planning a trip to the United States d. an American firm trying to purchase property overseas
What is impact of this transaction on net operating income : The cost of the goods sold is $2,400. The credit card company charges a 3% fee. What is impact of this transaction on net operating income.
How small p is convincing-shape of population distribution : Different designs SRS from Normal data, Shape of the population distribution and sample distribution Margin of error doesn"t cover all errors How small a P is convincing?
Prepare appropriate entries for both iga and e leasing : Prepare appropriate entries for both IGA and E Leasing from the inception of the lease through the second rental payment on April 1, 2011. Depreciation is recorded at the end of each fiscal year
Depreciated and straight-line method : Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during w..
What mass of stomach acid will neturalise : what mass of stomach acid will neturalise an antacid tablet containing 0.1g of magnesium hydrogen carbonate
Listen to a musical or dramatic performance : Tasks:1. Watch a movie, a 60-minute TV show, 60 minutes of a news/commentary show, or two sitcoms, read an entire newspaper, re-familiarize yourself with a favorite book (fiction or non-fiction), listen to a musical or dramatic performance (live or r..
Determine the market value of the clothing : You have an an inventory of women's clothes and also inventory of Hi-Tech equipment like Ipods or cell phones. You are like Walmart. You are nervous in that noone is buying certain woman's clothing in your stock and also noone is buying some of yo..
Why was there a need to require companies to prepare : When we already have the income statement and balance sheet to tell us about the financial performance and financial health of a company, why was there a need to require companies to prepare a statement of cash flows?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What amount should phoenix report for sedona customer list

On January 1, 2011 Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $600,000 cash. At January 1 2011, Sedona's net assets had a total carrying amount of $420,000.

  Which alternative should john choose

John Roberts is 60 years old and has been asked to accept an early retirement from his company. The company has offered John three alternative compensation packages to induce John to retire.

  Company raw material inventory account

It's Kinda China produces collectible pieces of act. The company's Raw Material Inventory account includes the cost of both direct and indirect materials. Account balances for the company at the beginning and end of July 2008 follow:

  Re-figuring the depletion rate for year

Change in estimated amount of ore to be mined from year one to year 2. year 1 is 400000 and year 2 is 487500 tons. mined 50000tons in first year and mined 80,000 tons second year of which 60000 tons sold residual or salvage value of the land is $1..

  Stock price of a foreign target to decrease

Which of the following would probably not cause the stock price of a foreign target to decrease?

  How is the auditors assessment of control risk affected

How is the auditor's assessment of control risk affected if a documented control procedure is not operating effectively? Explain the effect of such an assessment on the nature of audit tests of account balances.

  What is holly profit margin

The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580, and income tax expense of $13,920.

  Apply the theory of constraints to your own working

Apply the Theory of Constraints to your own working environment (past or present). Explain why your organization doesn't have unlimited resources (space, inventory, product line, etc)

  Prepare the necessary correcting entries

You have been engaged to review the financial statements of Water Sync Inc. In the course of your investigation you find a number of irregularities during the current year.

  Calculate marshall debt ratio

Marshall Networks, Inc. has a total asset turnover of 2.5% and a net profit margin of 3.5%. The firm has a return on equity of 17.5%. Calculate Marshall's debt ratio.

  Refunding of note payable

Make the entry to record the partial refunding. Assume Grant Co. makes reversing entries when appropriate. Prepare the adjusting entry at December 31, assuming straight-line amortization of the discount.

  Carrying value of montana inventory

Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows: What should be the carrying value of Montana's inventory?

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