User Account

All Pages

Find the amount of depreciation expense

Assignment Help Accounting Basics
Reference no: EM132600559

Question - A factory machine was purchased for $20,000 on March 1, 2021. It was estimated that it would have a $4,000 residual value at the end of its 5-year useful life. It was also estimated that the machine would be run 25,000 hours in the 5 years. If the actual number of machine hours run in 2021 was 4,000 hours and the company uses the units-of-production method of depreciation, find the amount of depreciation expense for 2021?

a. $2,133.

b. $4,000.

c. $,560.

d. $3,200.

Reference no: EM132600559

Questions Cloud

Legal-regulations-investigations and compliance : Locate 2 laws that impact information security in an organization. One law needs to be a US law and the other a foreign law from any country.
Leadership has accepted your risk and threat assessment : The Smallville client leadership has accepted your risk and threat assessment
Prepared the consolidated statement of financial position : Prepared the consolidated statement of financial position as at 31 December 2018. H Limited acquired 70% of shares in S Limited on 01 January 2015
Quantity of dollars supplied in the foreign exchange market : Assume that the United States trades exclusively with nations in the European Union and that the exchange rate between the U.S. and the E.U. is flexible.
Find the amount of depreciation expense : A factory machine was purchased for $20,000 on March 1, 2021. Uses the units-of-production method of depreciation, find the amount of depreciation expense
Why the role of loanable markets is crucial in an economy : Why the role of loanable markets is crucial in an economy? Explain with examples how different factors influence the demand
What is the depreciation included in cost of goods sold : In the first year, 1,000,000 tonnes of coal are extracted and sold. What is the depreciation included in cost of goods sold for the first year
Big data and blockchain technology : There are several emerging concepts that are using Big Data and Blockchain Technology.
Counselling Theory - Case Study application : Identification of the historical origins and evolution of BOTH of your chosen theories and Details about the typical counsellor/client relationship

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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