Purchased a latest machine, Accounting Basics

Assignment Help:

Teague Company purchased a latest machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an 8-year life and a $15,000 salvage value. The machine is expected to form 675,000 finished products during its eight-year life. Smith produced 70,000 units in 2012 and 110,000 units during 2013.

Required:

Verify the amount of depreciation expense to be recorded on the machine for the years 2012 and 2013 under every of the following methods:

2107_Untitled.png


Related Discussions:- Purchased a latest machine

What is perpetual inventory records, Q. What is Perpetual inventory records...

Q. What is Perpetual inventory records? Perpetual inventory records Even though companies could apply perpetual inventory procedure by hand tracking units and dollars in and ou

Account, #quthe books of deven verma could not be tallied.the accountant tr...

#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la

Draw a stem-and-leaf plot for the data set., Draw a stem-and-leaf plot for ...

Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp

Ryan''s express has total credit sales for the year, Ryan's Express has tot...

Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb

Enumerate about the income summary account, INCOME SUMMARY ACCOUNT This...

INCOME SUMMARY ACCOUNT This is a temporary account which used to summarize the balances of temporary revenue and expense accounts. This is also known as a clearing account. The

A simple discount note for $6, a simple discount note for $6,600 at a ordin...

a simple discount note for $6,600 at a ordinary bank discount rate of 8.61% for 60 days. What is the effective interest rate? Round to the nearest tenth of a percent

Accounting, illustrate business cycle with reference to a retail trader whi...

illustrate business cycle with reference to a retail trader which does business on a cash basics

Trial balance, 2013, May 1st: 1 started in bnusiness with capital in cash o...

2013, May 1st: 1 started in bnusiness with capital in cash of 1,800 and 4,200 in the bank. 2nd: Bought goods on credit from: j.Ward 600, P.Green 515

Which brand insulating oil tester is the best, GDYJ-503 is developed accord...

GDYJ-503 is developed according to the national standard GB-86 Insulating Oil Dielectric Strength Testing Method .The tester can test three cups of oil at the similar time. LCD scr

safety stock is appropriate, Given this information: Lead-time demand =...

Given this information: Lead-time demand = 600 pounds Standard deviation of lead-time demand = 52 pounds (Assume normality.) Acceptable stockout risk during lead time = 4

Write Your Message!

Captcha
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