User Account

All Pages

The estimates of useful life and residual value

Assignment Help Accounting Basics
Reference no: EM13881834

Refer to the situation described in BE. Assume that 2011 depreciation was incorrectly recorded as $32,000. This error was discovered in 2013. How should Robotics account for the error? What is depreciation on the building for 2013 assuming no change in estimate of useful life or residual value?
In BE, At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. Depreciation for 2011 and 2012 was calculated using the straight line method, a 25 year useful life, and a $1 million residual value. In 2013, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively. What is depreciation on the building for 2013?

Reference no: EM13881834

Questions Cloud

Why do large banks organize themselves this way : Large banks often borrow heavily in the federal funds market and maintain small investment portfolios relative to their asset size. Are these offsetting risk positions? Why do large banks organize themselves this way?
The greatest challenge facing law enforcement : Explain, in detail, what you believe to be the greatest challenge facing law enforcement agencies investigating exploitation, cyber stalking, and obscenity. Provide a rationale for your response.
Calculate the pw value for interest rates in the given range : Find all rates that are real numbers between _25% and _50%, and calculate the PW value for interest rates in this range. Indicate which is the best and correct i * value to use in a PW analysis.
Increasing international cooperation to eliminate human : Need a MUN simulation position paper of 550 words on Haiti's actual postion on the topic: Increasing international cooperation to eliminate human traficking
The estimates of useful life and residual value : What is depreciation on the building for 2013?
Describe the characteristics of ladder investment strategy : Describe the characteristics of the ladder investment strategy and compare them to the barbell investment strategy. Why should the barbell strategy outperform the ladder strategy in a stable or declining interest rate environment? Why should the ladd..
What are the properties of this function : If you had the data, how would you go about ?nding out whether the TPF reduces to the Cobb-Douglas production function? What testing procedure would you use?
Written examples of argument structure : Written examples of Argument Structure such as ( which is the topic or thesis ) (what sentences contain data or supporting evidence that relate to the topic sentences, support/evidence) (explain or analyze the data or supporting evidence in relation ..
Assist with the design of their capital budgeting system : Do you think that the process and/or the company's policy should be changed? If yes, what do you suggest to change and why and your job is to assist with the design of their capital budgeting system.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What consolidation worksheet entry would be made

when a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolidation worksheet entry would be made?

  Poppycrock inc manufactures large crates of microwaveable

poppycrock inc. manufactures large crates of microwaveable popcorn that are typically sold to distributors. its main

  Discretionary and nondiscretionary fiscal policy

Analyze the difference between discretionary and nondiscretionary fiscal policy. Explain the effects of discretionary and nondiscretionary fiscal policy on governmental revenue and expenditures.

  Gift tax is based on which property

When property is transferred, the gift tax is based on:

  Calculate the manufacturing overhead cost per metal

cost pool 1. setup 56000 2. material handling 12800 3. machine operation 240000 4. packing 60000 total 368800metal

  What are the four elements of a valid contract what is the

in 1999 a seattle mannbsptook a popular soft-drink company seriously when one of its commercials made an offer of a

  The authority budgeting and taxing policies

Comment on the extent to which the authority's budgeting and taxing policies promote interperiod

  There any temporary differences

Given the data above, are there any Temporary Differences?

  Redtail mfg has the following data selling price 60

redtail mfg has the following data selling price 60 variable manufacturing cost 33 fixed manufacturing cost 250000 per

  Identify the name of the control principle

Identify the name of the control principle to which this situation relates. Explain to your friend what kind of fraud could occur if the same person did both jobs.

  Net income of 48220 was reported and dividends of 24170

the comparative balance sheets of constantine cavamanlis inc. at the beginning and the end of the year 2014 are as

  Collison and ryder company campr has been experiencing

collison and ryder company campr has been experiencing declining market conditions for its sportswear division.

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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