User Account

All Pages

Depreciation on the building

Assignment Help Accounting Basics
Reference no: EM13882184

1.Refer to the situation described in BE. Assume that 2011 depreciation was incorrectly recorded as $32,000. This error was discovered in 2013. How should Robotics account for the error? What is depreciation on the building for 2013 assuming no change in estimate of useful life or residual value?
In BE, At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. Depreciation for 2011 and 2012 was calculated using the straight line method, a 25 year useful life, and a $1 million residual value. In 2013, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively. What is depreciation on the building for 2013? 

Reference no: EM13882184

Questions Cloud

Basic element of classical criminology : Which of the following is a basic element of classical criminology? Which was the first written criminal code
Where should student seek help to be most effective : Student determines how many minutes it would take for each method of assistance and how many points it might gain for him on the final. The method and estimates follow. Where should student seek help to be most effective?
How would you interpret ß2 : If there is a difference between β2 estimated for current-dollar GDP and that estimated for constant-dollar GDP, what explains the difference?
Describe the earned value management terms : Describe the earned value management terms
Depreciation on the building : 1.Refer to the situation described in BE. Assume that 2011 depreciation was incorrectly recorded as $32,000.
What are the implications of ai on defining project scope? : What are the implications of AI on defining project scope?
Calculate the cost effectiveness ratio for each alternative : The cost in $ per year and effectiveness measure in items salvaged per year for four mutually exclusive service sector. Calculate the cost effectiveness ratio for each alternative, and use the CER to identify the best alternative.
Realize arbitrage profits in dollars net of transaction cost : An arbitrager at Deutsche Bank notices that the yield on Brazilian Real 6-month risk-free bills is 5.5% per annum and the yield on U.S. 6-month T-bills is 7% per annum. What transactions will the arbitrageur undertake to realize arbitrage profits in ..
Paper on the crowding effect the war on drugs : Write a 700- to 800 word paper on the crowding effect the war on drugs has had on correctional organizations in your state

Reviews

Write a Review

Accounting Basics Questions & Answers

  The fair value of the expected number of shares to be

lauren corporation acquired sarah inc. on january 1 2009 by issuing 13000 shares of common stock with a 10 per share

  Balance sheets for prego company and sprague company

Prego Company exchanged 11,880 of its $20 par value common shares with a fair value of $50 per share for 90% of the outstanding common shares of Sprague Company. The transaction is a purchase.

  What is the recoverable amount of this asset

A non current asset has a carrying amount of $20,000. it could be sold for $18,500 with selling cost of $500. its value in use is $22,000 and its replacement cost$50,000. according to IAS 36 Impairment of Assets, what is the recoverable amount of ..

  Collier bicycles has been manufacturing its own wheels for

collier bicycles has been manufacturing its own wheels for its bikes. the company is operating at 100 capacity and

  What standards apply to each service

An example of each type of service Who might request such a service? What standards apply to each service and who establishes those standards?

  Wesley who is single listed his personal residence with a

wesley who is single listed his personal residence with a real estate agent on march 3 2013 at a price of 390000. he

  Why is depreciation for income tax purposes an important

Why is depreciation for income tax purposes an important concern of taxpayers and how does tax depreciation differ from financial accounting depreciation?

  Investment interest expense limitation

Identify the structural similarity between the investment interest expense limitation, the capital loss limitation, and the passive activity loss limitation.

  On january 2 2013 benson hospital purchased a 97700 special

on january 2 2013 benson hospital purchased a 97700 special radiology scanner from picard inc. the scanner had a useful

  Which accounts is debited and which account is credited

Leon Bear started a computer programming business, Bear's Programming Service. For each transaction that follows, indicate which accounts is debited and which account is credited.

  On december 20 2013 jamesway received a 4100 payment from a

the jamesway corporation had the following situations on december 2013.1.on december 20 2013 jamesway received a 4100

  Accounts-notes payable for darby corporation

The following are selected transactions of Darby Corporation. Prepare journal entries for the selected transactions above. Prepare adjusting entries at December 31.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd