How much is the depreciation

Assignment Help Accounting Basics
Reference no: EM133078636

Question - As of December 31, 2020, A Company had the following properties in its books:

 

Cost

Accumulated Depreciation

Building

5,000,000

960,000

Machinery

4,000,000

600,000

The building had a salvage value of P200,000. Both properties were being depreciated using the straight-line method of accounting and had an original useful life of 10 years each.

On January 1, 2021, the company decided to use SYD method to depreciate the building. In addition, the machinery was re-evaluated to have a useful life of 4 years.

Required - How much is the depreciation in 2021 (round to nearest whole figure)?

Reference no: EM133078636

Questions Cloud

Compare individual welfares in developing countries : Why is consumption expenditure often preferred over income to compare individual welfares in developing countries? All things controlled for, which will tend to
Explain the existence of intermediaries : A large number of independent loan prospects are available, each paying a net return (on $100) of $24 with probability 1/4 and $4 with probability 3/4. There ar
Advertisement budget of quest amounts : -When the advertisement budget of Quest amounts to $16, 000 and their marketing campaign resulted in a total of 174, 500 clicks, what was their CPA if one in ev
What is meant by financial arbitrage : Can you explain what is meant by financial arbitrage, contrasting it with goods arbitrage. Then explain the following statement: If the classical theory of asse
How much is the depreciation : On January 1, 2021, the company decided to use SYD method to depreciate the building. How much is the depreciation in 2021
Explain why people are risk-averse : Can you use the concept of diminishing marginal utility to explain why people are risk-averse?
Holding a diversified portfolio : A saver holding a diversified portfolio can achieve the same risk reduction as she could get by pooling her money with other savers via an intermediary.
Quantity of dish washers bought and sold at equilibrium : If the demand and supply curve for dish washers are:D = 800 - 4P, S = 10 + 6P Where P is the price of dish washers, what is the quantity of dish washers bought
Calculate anthony explicit cost for operating : Calculate Anthony's explicit cost for operating his consulting firm for a year

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the dollar discount on this instrument

A $10,000 face value was just issued at a 2% discount rate. What is the dollar discount on this instrument

  How much is gwyn profit

Gwyn bought a car for P1,500.000.00 and spent P55,000.00 on its accessories. She later sold it for P1,950,000.00 after 5 months. How much is Gwyn's profit?

  What is the amount of the premium on these bonds at issuance

Prairie Dunes Co. issues bonds dated January 1, 2011, with a par value of $800,000. The bonds' annual contract rate is 13%, and interest is paid semiannually.

  Compute odd wallow drinkss breakeven point in units per year

dd Wallow Drinks is considering adding a new line of fruit juices to its merchandise products. Compute Odd Wallow Drinks's break-even point in units per year.

  What is the journal entry regarding net income

Choco acquired 10 % of the voting common stock of Cake Company in 1/1/2019 by paying $12,000 in cash. What is the journal entry regarding net income

  Discuss the ways a realistic budget will benefit the owner

Briefly discuss the ways a realistic budget will benefit the owner of Babycakes versus having no budget at all. Be sure to use Babycakes as the company.

  Calculate the standard direct labor hours per unit

Coronado Industries produces a product that requires 2.6 pounds of materials per unit. The standard direct labor hours per unit is

  Internal control is a function of management and effective

Internal control is a function of management, and effective control is based upon the concept of charge and discharge of responsibility and duty. The implementation, monitoring, and evaluation of internal control systems are described in-depth in the..

  Explain your monthly master budget and the items included

Explain your monthly master budget and the items included in it, and compare these planned items against what you spent on them last month.

  Louis industries normally produces and sells 5000 keyboards

louis industries normally produces and sells 5000 keyboards for personal computers each month. variable manufacturing

  Allocate the budgeted overhead costs to the products

Willey Company makes three products in its factory: plastic cups, plastic tablecloths, and plastic bottles. Allocate the budgeted overhead costs to the product

  Discuss amount of environmental consulting services

had performed a significant amount of environmental consulting services for Sunland Company Sunland Company was short of cash

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