Crystal Cleaners dry cleans industrial clothing. The following excerpt from its PPE Subledger shows the component details
Question:
Calculate depreciation on the dry cleaning equipment for the year ended December 31, 2014. Assume the equipment was purchased on January 2, 2014, and that 62,000 garments were dry cleaned during2014.
Transcribed Image Text:
Dry Cleaning Equipment: Depreciation Method SL Units SL SL Estimated Residual $ 0- 8 years Estimated Life Component Computer panel Dry clean Stainless steel housing Miscellaneous parts Cost S 4,000 70,000 85,000 26,000 $185,000 5,000 10,000 20 years ing drum 400,000 garments -0 2 years
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
Computer panel 40008 years 500 depreciation Dry cleaning drum 70000 5000 6...View the full answer
Answered By
Diksha Bhasin
I have been taking online teaching classes from past 5 years, i.e.2013-2019 for students from classes 1st-10th. I also take online and home tuitions for classes 11th and 12th for subjects – Business Studies and Economics from past 3 years, i.e. from 2016-2019. I am eligible for tutoring Commerce graduates and post graduates. I am a responsible for staying in contact with my students and maintaining a high passing rate.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
Question Posted:
Students also viewed these Accounting questions
-
For the year ended December 31, 2020, Sweet Ltd. reported income before income taxes of $190,500. Prior to 2020 taxable income and accounting income was the same each year. In 2020, Sweet Ltd. paid...
-
The income statement for Delta-tec Inc. for the year ended December 31, 2016, was as follows: Delta-tec Inc. Income Statement (selected items) For the Year Ended December 31, 2016 1 Income from...
-
Modify your Digraph class from the previous exercise to make a MultiDigraph class that allows parallel edges. For a test client, run a random- surfer simulation that matches RandomSurfer (Program...
-
A vat with 500 gallons of beer contains 4% alcohol (by volume). Beer with 6% alcohol is pumped into the vat at a rate of 5 gal / min and the mixture is pumped out at the same rate. What is the...
-
Slowhand Services was formed on May 1, 2010. The following transactions took place during the first month. Transactions on May 1: 1. Eric Clapton invested $50,000 cash in the company, as its sole...
-
Costco Wholesale Corporation operates membership warehouses. As of August 30, 2015 Costco operated 686 warehouses, with 480 in the United States. In addition, the store sells merchandise through its...
-
The rate at which a substance passes through a semi permeable membrane is determined by the diffusivity D(cm 2 /s) of the gas. D varies with the membrane temperature T(K) according to the Arrhenius...
-
In keeping with a conservative approach to insurer solvency, the primary constraints are on insurer Available answer options Select only one option A Liability holdings. B Accounting methods. C...
-
Consider the following couponing strategy for Kellogg's Oat Bunches cereal. Suppose there are two types of consumers-the busy professionals (B) and the stay-at-home parents (S). B-type consumers are...
-
TechCom has provided the following selected account information, in alphabetical order, from its adjusted trial balance at October 31, 2014 (assume normal balances): Accounts receivable...
-
Equipment with an estimated life of 10 years and no expected residual value was purchased on account for $60,000 on March 6, 2014. Assuming a year-end of December 31, calculate depreciation for 2014...
-
Use sigma notation to write the following Riemann sums. Then evaluate each Riemann sum using Theorem 5.1 or a calculator. The midpoint Riemann sum for f(x) = x 3 on [3, 11] with n = 32
-
You are holding a stock that has a beta of 2.59 and is currently in equilibrium. The required return on the stock is 26.18% and the return on a risk-free asset is 8.0%. What would be the return on...
-
The first excited state of the helium atom lies at an energy 19.82 eV above the ground state. If this excited state is three-fold degenerate while the ground state is non-degenerate, find the...
-
Find the total electric potential at the origin due to the +4.0C and - 7.0C charges. -7.0C 0.4m 0.6m +4.0C 32% 49 y
-
Organisation development (OD) interventions often produce positive change results. Interventions that rely on participation of organisational members can create openness and trust among co-workers...
-
The next time you travel to work or school ( or any other location that you frequently visit ) , log the total miles and the total time. Work out your average velocity. In the discussion post mention...
-
In Problems 3140, find the intervals on which the graph of f is concave upward, the intervals on which the graph of f is concave downward, and the x coordinates of the inflection points. f(x) = x 4x...
-
Express mass density in kg/m3 and weight density in lb/ft3. 1. Find the mass density of a chunk of rock of mass 215 g that displaces a volume of 75.0 cm3 of water. 2. A block of wood is 55.9 in. x...
-
This case arose after Felix DeWeldon, a well-known sculptor and art collector, sold three paintings to Robert McKean in 1994. Felix DeWeldon declared bankruptcy in 1991. In 1992, DeWeldon, Ltd.,...
-
On December 11, 2020, the Sydney Company borrowed $42,000 and signed a 60-day, 5.5% note payable. Calculate the accrued interest payable on December 31, 2020.
-
Western Refrigeration borrowed $230,000 to purchase inventory on September 15, 2020 for 45 days at 6% interest by signing a note. On December 6, 2020, Western Refrigeration sold an industrial fridge...
-
Real People Sporting (RPS) Co-op introduced a loyalty program in 2020. Every customer who signed up would receive 1% of their total purchases as a cheque, each February for the previous year, that...
-
Here is the optimal tableau for a standard Max problem. [ z x 1 x 2 x 3 x 4 s 1 s 2 s 3 r h s 1 0 5 3 0 6 5 0 2 7 0 0 0 1 . 3 7 . 5 0 - . 1 . 2 0 6 0 0 2 8 3 6 0 0 - 8 1 2 1 6 0 0 0 - 1 1 5 - 3 1 1 1...
-
Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 11 years ago for $5 million in anticipation of using it as...
-
One of the most commonly used statistical techniques is the comparison of two mean s, also known as the t-test (for this you need quantitative variables, or interval level data to compare across two...
Study smarter with the SolutionInn App