Machine tool company purchased a 600000 welding machine to

Assignment Help Accounting Basics
Reference no: EM13574683

Machine Tool Company purchased a $600,000 welding machine to use in production of large machine tools and robots. The welding machine was expected to have a life of 10 years and a salvage value at time of disposition of $60,000. The company uses straight-line depreciation. During its first operating year, the machine produced 600 machines of which 480 was sold.What part of the $600,000 machine cost expired?

 

Reference no: EM13574683

Questions Cloud

Friendlys shoe store has earnings before interest and : friendlys shoe store has earnings before interest and taxes of 21680 and net income of 12542. the tax rate is 34
Kepler corporation had 300000 shares of common stock : kepler corporation had 300000 shares of common stock outstanding during the year. kepler declared and paid cash
Xpected sales for tents at sandys camping gear are 4200 : xpected sales for tents at sandys camping gear are 4200 6100 2200 3400 and 5300 for the next five quarters. at the end
Evaluate the impact to a business when compensation such as : production budgets please respond to the followingfrom the first e-activity assess the external factors and policy
Machine tool company purchased a 600000 welding machine to : machine tool company purchased a 600000 welding machine to use in production of large machine tools and robots. the
Apply the residual dividend policy and determine the amount : notle ltd is a growth oriented company 75 of which is owned by its directors and 25 by an outside financier. the
Baker winery manufactures a fine wine in two departments : baker winery manufactures a fine wine in two departments fermenting and bottling. in the fermenting department grapes
In 2011 alliant corporation acquired centerpoint inc for : in 2011 alliant corporation acquired centerpoint inc. for 300 million of which 50 million was allocated to goodwill. at
Beach wear has current liabilities of 350000 a quick ratio : beach wear has current liabilities of 350000 a quick ratio of 1.65 inventory turnover of 3.2 and a current ratio of

Reviews

Write a Review

Accounting Basics Questions & Answers

  Wilma is ceo of and owns 100 percent of wt enterprises a

1.which of the following nominal rates does not apply to a c corporation?a. 10b. 15c. 25d. 352. which of the following

  Prepare the adjusting entry as a result of physical count

Sales returns and allowances $1,700. A physical count of inventory determines that merchandise inventory on hand is $14,100. Prepare the adjusting entry necessary as a result of the physical count.

  Bryson company operates two factories the company applies

bryson company operates two factories. the company applies factory overhead to jobs on the basis of machine hours in

  Purchase for production during the year

Three kilos of raw materials are needed to produce each unit of finished product. If Tripod Exports plans to produce 280,000 units during the 2008-2009 fiscal year, how many kilos of materials will the company need to purchase for its production d..

  Equation for personnels artificial cost

What amount of total support costs will be allocated to Finishing if the step-down method is used and P is ranked first? [6 pts.] Maint. What is the equation for Personnels artificial cost if the reciprocal method is used?

  Describe bubble titles to be used in preparing a level 0

Each month, the IT division at Webster prints monthly statements and sends them to the accounts receivable (AR) department, where a clerk mails them to the customers. Webster's customers mail their payments

  Determine sales and gross profit

Determine sales and gross profit given cost of goods sold was $622,000 and net loss was ($41,000).

  Brandywine homecare is a not for profit business they had

brandywine homecare is a not for profit business. they had revenue of 12 million in 2007. expenses other than

  Uses of the perpetual inventory system

prepare summary journal entries for 2011 and 2012 to account for the installment sales and cash collections the company uses the perpetual inventory system.

  Change to the equity method

On January 1, 2009, Dermot Company purchased 15% of the voting common stock of Horne Corp. On January 1, 2011, Dermot purchased 28% of Horne's voting common stock. If Dermot achieves significant influence with this new investment, how must Dermot ..

  Information on the revenue departments

Booth Financial Services, LLC has two revenue producing departments, Financial Planning and Business Consulting. The accounting department is trying to determine the best method to allocate $1,000,000 of common costs (secretarial staff, reception ..

  Shares of common stock outstanding throughout the year

If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:

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