Looking back to our Table 12.3 forklift depreciation example, assuming a 2019 purchase date, what is the
Question:
Looking back to our Table 12.3 forklift depreciation example, assuming a 2019 purchase date, what is the book value of the equipment at the end of the third full year of ownership for each of the options presented?
Transcribed Image Text:
Table 12.3 Straight-line depreciation options Forklift Example, Five-Year Useful Life Purchase Value - Resale Value = Depreciable Value $125,000-$25,000 $100,000 $20,000 per year Depreciation First Year Date Purchased Method 1/1/2019 Full Year 7/1/2019 Half Year 2/15/2019 Mid Quarter 7/8 4/15/2019 Mid Month 17/24 2022 2023 Total 2020 2021 $20,000 $20,000 $20,000 $20,000 $100,000 $100,000 $10,000 $20,000 $20,000 $20,000 $20,000 $10,000 $17,500 $20,000 $20,000 $20,000 $20,000 $2,500 $100,000 $14,167 $20,000 $20,000 $20,000 $20,000 $5,833 $100,000 Portion 2019 100% $20,000 50% 2024
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Full 125000 65000 ...View the full answer
Answered By
Wahome Michael
I am a CPA finalist and a graduate in Bachelor of commerce. I am a full time writer with 4 years experience in academic writing (essays, Thesis, dissertation and research). I am also a full time writer which assures you of my quality, deep knowledge of your task requirement and timeliness. Assign me your task and you shall have the best.
Thanks in advance
4.90+
63+ Reviews
132+ Question Solved
Related Book For
Cost Accounting And Financial Management For Construction Project Managers
ISBN: 9781138550650
1st Edition
Authors: Len Holm
Question Posted:
Students also viewed these Business questions
-
The following information relates to Hawkrigg Corporations purchase of equipment on 15 June 20X7: Invoice price ..................... $ 210,000 Discount for early payment (if paid by 30 June)..........
-
Shyam Ltd. invited applications for issuing 80,000 shares of 10 each at a premium of 40 per share. The amount was payable as follows: On Application On Allotment *35 per share (including 30 premium)...
-
The following information relates to Riggs Corp.s purchase of equipment on 15 June 20X7: Invoice price ................................................................................ $420,000...
-
The following is the documentation of the payroll cycle at McQuarrie Enterprises, a ladies clothing wholesaler. There are approximately 50 staff members at McQuarrie Enterprises. Every employee has a...
-
The motion of the uniform rod AB of mass 8 kg and length h L = 900 mm is guided by small wheels of negligible mass that roll on the surface shown. If the rod is released from rest when =20?,...
-
You want to sample 40 NBA players. Your friend who is a big NBA fan has offered to give you a list of his 40 favorite players. a. Discuss why your friends list is not a random sample and is biased....
-
On January 1, 2013, Palomar Resorts acquired 65 percent of the stock of Sahara Hotel & Casino for \($41.45\) million in cash and stock. The date-of-acquisition fair value of the noncontrolling...
-
Dollar-Value LIFO Presented below is information related to Martin Company. Compute the ending inventory for Martin Company for 2007 through 2012 using the dollar-value LIFO method. Ending Inventory...
-
can you please provide solutions for these? Problem 4: Brooke Bentley, a student in business administration, is trying to decide which management science course to take next quarter - I, II, or III....
-
What is the difference between book value and salvage value?
-
How do third-party equipment rental companies account for their equipment repair and maintenance?
-
When a note receivable is dishonoured, the following action is taken to adjust accounting records: a. The note receivable is immediately written off to bad debt expense. b. A percentage of the note...
-
Oakwood Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March April May $175,000 161,000...
-
Consider mobile integrated health care (MIH) or community paramedic (CP) programs you have read about or are familiar with. Do you think this is a new scope for emergency medical services (EMS)...
-
Dodge company has been a very reliable automobile that has been in the market it has had ups and downs. Has increased its market sales up to 18% Has been a well-known vehicle in the past couple of...
-
1. You are Chief Financial Officer for a company that sells contact lenses by mail order to a notional market. Despite the national presence, the firm's facilities are all located in one state. Your...
-
Is China's rapid economic growth, spurred by Deng Xiaoping's reforms in the 80s, sustainable in the long term, or does the current threat of deflation indicate potential risks that could undermine...
-
Under U.S. law what must a corporation do to qualify and be regulated as a commercial bank?
-
Should U.S. antidumping laws be stated in terms of average total costs or average variable costs?
-
What is the contribution margin percentage per plate of fried rice? a. 2 b. 50% c. 33.33% d. 66.67% You are given the following details regarding the operations of Cheng Hi Fried Rice Restaurant....
-
Sales volume next year is anticipated to be 50,000 plates of fried rice. By what percentage would the selling price have to be changed to generate a net income of 75,000, assume corporate tax is 25%,...
-
Daytona Wheels is a Japanese tire manufacturer. For August 2021, it budgeted to manufacture and sell 3,000 tires at a variable cost of $74 per tire and total fixed costs of $54,000. The budgeted...
-
Only a primary key can be indexed. Group of answer choices True False
-
Men are under-represented in engineering, natural sciences, and mathematics. True False 1 p The tertiary sector includes jobs in * 1 pc agriculture, fishing and trapping, forestry, and mining. True...
-
The downward slope of the ppf represents opportunity costs O True O False
Study smarter with the SolutionInn App