Empire machinery acquired a new machine on january 1 2006

Reference no: EM13595510

Empire Machinery acquired a new machine on January 1, 2006 at a cost of $50,000, which was estimated to have a useful life of 10 years, and a salvage value of $20,000. Straight-line depreciation was used. On January 1, 2012, management decided that the estimate of useful life had been too long and that the machinery would have to be retired after two more years, that is, at the end of the eighth year of service, but would retain its original salvage value. Under this revised estimate, calculate the depreciation expense for the seventh year of use.

Reference no: EM13595510

Questions Cloud

Merliss companya specialty boat-accessory manufacturer is : merliss companya specialty boat-accessory manufacturer is expecting growth in sales of certain low price products.

On june 30 2011 vende inc sold some used equipment for : on june 30 2011 vende inc. sold some used equipment for 28000. the equipment had been purchased several years ago for

What is the equilibrium ph of a solution created by adding : hydrochloric acid hcl is a strong acid that undergoes essentially complete dissociation in water according to the

In 2012 bailey corporation discovered that equipment : in 2012 bailey corporation discovered that equipment purchased on january 1 2010 for 50000 was expensed at that time.

Empire machinery acquired a new machine on january 1 2006 : empire machinery acquired a new machine on january 1 2006 at a cost of 50000 which was estimated to have a useful life

If each of the following compounds were in solution which : if each of the following compounds were in solution which of the ions contributed by that compound would the chloride

Budgeted overhead for haft inc at normal capacity of 60000 : budgeted overhead for haft inc. at normal capacity of 60000 direct labor hours is 3 per hour variable and 2 per hour

How would you expect the amino acids glycine alanine and : how would you expect the amino acids glycine alanine and phenylalanine to travel relative to each other on the silica

Biggest similarities between the two provision of section : biggest similarities between the two provision of section 351 and 1031 is that they are both really tax deferred

User Account

All Pages