How much will be depreciated in year five

Assignment Help Accounting Basics
Reference no: EM131979375

Question - After four years, a machine had an accumulated depreciation of $38,000. The machine originally had an anticipated life of eight years and a salvage value of $5,000. If the current book value after four years is $43,000 and the machine has only two years of usable life left, how much will be depreciated in year five and in year six using the straight-line method of depreciation, and assuming the salvage value is still $5,000? Please show equations, thanks.

Reference no: EM131979375

Questions Cloud

Probability of default of the borrower and recovery rate : The market risk premium positively depends on the probability of default of the borrower and the recovery rate.
How much will be distributed to the preferred stockholders : How much will be distributed to the preferred and common stockholders on the date of payment if the preferred stock is $12,000 in arrears
What is the journal entry to record this transaction : If the trade-in value received for the old equipment is $30,000, what is the journal entry to record this transaction? Please show equations
Specializing in environmental concerns and preservation : Imagine you have been hired to manage the PR function for a startup company specializing in environmental concerns and preservation.
How much will be depreciated in year five : How much will be depreciated in year five and in year six using the straight-line method of depreciation, and assuming the salvage value is still $5,000
Digital media on issue monitoring and planning : What is the impact of 24/7 digital media on issue monitoring, planning?
What is the required journal entry to record : What is the required journal entry to record estimated uncollectible accounts? Please show equations
Calculate tax equivalent yield and tax equivalent yield : Calculate the tax equivalent yield if your marginal tax rate is 21 percent. Calculate the tax equivalent yield if your marginal tax rate is 28 percent.
Appropriate conversion methods for the company : Select the two most appropriate conversion methods for the company to consider and explain under what circumstances it might want to select one method over

Reviews

Write a Review

Accounting Basics Questions & Answers

  In this chapter you learned about a basic manual accounting

Prepare a brief explanation of how the general ledger system works-that is, how it is used, and what information it provides.

  Unfavorable materials quantity variance

There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:

  Is it possible for a firewall to restrict too much data flow

A firewall should inspect incoming and outgoing data to limit the passage of unauthorized data flow. Is it possible for a firewall to restrict too much data flow?

  Calculate the amount of non-controlling interest

Calculate the amount of non-controlling interest to be deducted from consolidated income in the consolidated income statement for 2012

  Issuing audit opinion for company financial reports

Auditors have come into a department as part of a company-wide audit prior to issuing an audit opinion for the company's financial reports. In a one- to two- page paper (not including the title and reference pages), explain what the staff should e..

  Prepare summary journal entries to record march transactions

Prepare T-accounts showing how the above costs flow through the accounting system. Prepare summary journal entries to record March's transactions

  Review case study of the bonita industries

On January 1, 2012, Bonita Industries issued $18000000 of 10% ten-year bonds at 102. The bonds are callable at the option of Bonita at 104.

  What is cost of goods sold for 2013

Taylor Corporation has used a periodic inventory system and the LIFO cost method since its inception in 2006.

  Calculate blue marlins annual rate of return and payback

1 a project has estimated annual net cash flows of 63000 and is estimated to cost 352800. what is the payback

  When do you use the equity method of accounting

List the investments it has. Does it use cost basis or equity method of accounting, or both? When do you use the equity method of accounting?

  Compute the cash payback period

The company's cost of capital is 15%. (Assume that cash flows occur evenly throughout the year.) Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.)

  Advantage of creating modular code

Which of the following is an advantage of creating modular code?

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