A machine costs 26,660. It will be kept for four years, and then sold for an estimated

Question:

A machine costs £26,660. It will be kept for four years, and then sold for an estimated figure of £6,400. Show the calculations of the figures for depreciation (to nearest £) for each of the five years using

(a) the straight line method,

(b) the reducing balance method, for this method using a depreciation rate of 30 per cent.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Frank Woods Business Accounting Volume 1

ISBN: 9781292084664

13th Edition

Authors: Alan Sangster, Frank Wood

See More Books

Question Posted: Mar 28, 2024 03:30 AM

See More Questions

A photocopier costs 23,000. It will be kept for four years, and then traded-in for 4,000. Show the calculations of the figures for depreciation for each year using (a) The straight line method, (b)...
A machine costs 8,000. It will be kept for five years, and then sold for an estimated figure of 2,400. Show the calculations of the figures for depreciation (to nearest ) for each of the five years...
A printer costs 800. It will be kept for five years and then scrapped. Show your calculations of the amount of depreciation each year if (a) The reducing balance method at a rate of 60 per cent was...
A. Discuss the following conceptual model/framework of Orem's Self-Care Theory CONDITIONING FACTORS (12 MARKS) Orem's Self-Care Theory Conceptual Framework SELF-CARE AGENCY SELF-CARE DEFICIT NURSING...
What major competencies should Genexis maintain and develop to grow in its current market? What strategic alliances, if any, should Genexis create to establish its VAN or service supply network?
WACC and APV What is the main difference between the WACC and APV methods?
Use the PewWorkPlay dataset to run a logistic regression equation with the recoded variable regarding looking up directions online (XYusedirections). For your independent variables, use age, the...
A warehouse storage building company must determine how many storage sheds of each sizelarge or smallto build in its new 8,000-square-foot facility to maximize rental income. Each large shed is 150...
An insurance policy for $1200. Based on past data, an average of 1 in 125 policyholders will ea 510.000 calm, an average of 1 in 100 policyholders wille 540,000 claim and an everage of 1 in 500...
A company which makes up its financial statements annually to 31 December, provides for depreciation of its machinery at the rate of 12 per cent per annum using the reducing balance method. On 31...
Write down the three characteristics that distinguish non-current assets from current assets.
1. As a sale market manager for a company, contemplate whether prices should reflect the value the customers are willing to pay or whether they should be based upon the cost of the product or service...
The file NFL2012data.xlsx contains scores of all the NFL 2012 regular-season games. Rate the teams. Even though the Colts were 106, your ratings have the Colts as well below the average team. Can you...
A certain company reorders envelopes when its stock drops to 12 boxes, although demand for envelopes during lead time is normally distributed with a mean of 10 boxes and a standard deviation of 3...
Indicate the uses of budgeting and construct various budgets, including the cash budget, from relevant data.
Complete the double entry for each of the following transactions: a The owner of a business pays additional capital to the company; the cash account is debited and it is credited to the __________. b...
The file named Worldball.xlsx contains all the scores from the 2006 World Basketball Championships. Rate the teams. Who were the best three teams?
Explain disclaimers of implied warranties and the requirements for them to be legally valid.
Write electron configurations for the following ions, and determine which have noble-gas configurations: (a) Cd2+ (b) p3- (c) Zr4+ (d) Ru3+ (e) As3- (f) Ag+
Product Weight Sales Additional Processing Costs P 300,000 lbs. $ 245,000 $ 200,000 Q 100,000 lbs. 30,000 -0- R 100,000 lbs. 175,000 100,000 If joint costs are allocated based on relative weight of...
The projected benefit obligation was $380 million at the beginning of the year. Service cost for the year was $21 million. At the end of the year, pension benefits paid by the trustee were $17...
CVP Modeling project The purpose of this project is to give you experience creating a multiproduct profitability analysis that can be used to determine the effects of changing business conditions on...

A machine costs 26,660. It will be kept for four years, and then sold for an estimated

Question:

Step by Step Answer:

SOLUTION a Straight line method Cost of machine 26660 Estimated resale value after 4 years 6400 Rem...View the full answer

Frank Woods Business Accounting Volume 1

Students also viewed these Business questions