Determine the depreciation for the current fiscal year

Assignment Help Accounting Basics
Reference no: EM13534052

Partial-year depreciation

Sandblasting equipment acquired at a cost of $64,000 has an estimated residual value of $4,000 and an estimated useful life of eight years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. Determine the depreciation for the current fiscal year and for the following fiscal year by (a) the straight-line method and (b) the double-declining-balance method.

Reference no: EM13534052

Questions Cloud

Valuing available-for-sale securities at fair value : the cost of the available-for-sale securities was $62,400, and the fair value was $56,900. Prepare the adjusting entry to record the unrealized gain or loss for available-for-sale securities on December 31, 2012.
Calculate the recoil speed of the nucleus : The nucleus of the polonium isotope 214^po (mass 214u ) is radioactive and decays by emitting an alpha particle, what is the recoil speed of the nucleus that remains after the decay
Prevent covered interest arbitrage : What must be the forward exchange rate to prevent covered interest arbitrage?
Calculate how much time elapses from start to stop : An electric vehicle starts from rest and accelerates at a rate of 2.4 m/s2 in a straight line until it reaches a speed of 25 m/s. How much time elapses from start to stop
Determine the depreciation for the current fiscal year : Determine the depreciation for the current fiscal year and for the following fiscal year by (a) the straight-line method and (b) the double-declining-balance method.
Mated with a hen of the same phenotype. : A rooster with gray feathers is mated with a hen of the same phenotype. Among their offspring, 15 chicks are gray, 6 are black, and 8 are white. What is the simplest explanation for the inheritance of these colors in chickens? What offspring would yo..
What is the amount of the annual depreciation : What is the amount of the annual depreciation and what is the book value at the end of the twenty-fourth year of use?
Analyze assess discuss your findings : Analyze/assess/discuss your findings
Calculate how far is the electron from the origin : An electron moving along the x axis has a position given by x = 12 te-t m, where t is in seconds. How far is the electron from the origin when it momentarily stops

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much should fishbone record as the cost of the machine

Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,570 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 10% applies to this contract, how much should Fishbone r..

  Prepare the business income statement for the period

Prepare the business Income Statement for the period.    Prepare the business Statement of Changes in Equity for the period, Prepare afully classified Balance Sheet at the end of the period.

  Analyze key circumstance that caused impairment of goodwill

As a stakeholder of a company, suggest which financial measurement is most important to current stockholders' net income, or earnings, and comprehensive income. Provide support for your rationale.

  Earning and stock returns

Earnings announcements by companies are closely followed by, and frequently result in, share price revisions. Two issues should come to mind. First, earnings announcements concern past periods, If the market values stocks based on expectations of ..

  What is the rate of return on investment

Division W of Comer Company has sales of $840,000, cost of goods sold of $500,000, operating expenses of $256,000, andinvested assets of $600,000. What is the rate of return on investment for Division W?

  Internal rate of return on the investment in the tractor

The tractor-trailer would be used in the company's hauling business, resulting in additional net cash inflows of $24,000 per year. The internal rate of return on the investment in the tractor-trailer is closest to:

  Use the internet to research a manufacturing company in

use the internet to research a manufacturing company in which you are interested with a focus on the type of work the

  2010 dec 16 accepted a 10500 60-day 6 note dated this day

2010 dec. 16 accepted a 10500 60-day 6 note dated this day in granting todd duke a time extension on his past-due

  Primary bond portfolio management strategies

There are 5 primary bond portfolio management strategies: passive; laddering; indexing; immunization; and, active. Select one of these strategies and explain how it is used to effectively manage all or part of the portfolio.

  Equal total payments of accrued interest

American Eagle borrows $90,000 cash by signing a four-year, 5% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2009?

  Accounting assignmentpart one please provide clear

accounting assignmentpart one please provide clear calculations and explanations submit supporting excel file if

  Gross profit rate of clark company

In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was

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