Answered step by step

Verified Expert Solution

Link Copied!

Question

...

1 Approved Answer

Posted on May 14, 2024

a machinery was purchased worth 20000. The useful life is estimated to be 5years with an expected residual value of 5000. You are required to

a machinery was purchased worth 20000. The useful life is estimated to be 5years with an expected residual value of 5000. You are required to calculate depreciation under straight line method as well as diminishing balance method.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Physics

Authors: James S. Walker

5th edition

978-0321976444

Students also viewed these Accounting questions

Question

★★★★★

A depreciation method that uses the capital cost, effective life and residual value is the: Capital expenditure is: What does the Accumulated depreciation account represent? Office equipment...

Answered: 1 week ago

Question

★★★★★

Westfair Foods Partial Balance Sheet December 31, 2023 1 The machinery was purchased on January 1, 2018, and is depreciated to the nearest whole month using the straight-line method. Its total...

Answered: 1 week ago

Question

★★★★★

You own a portfolio containing the following stocks. Stock A Stock B Stock C Stock D $ Amount $9,000 $6,000 $5,000 $10,000 Expected return 10.65% 12.89% 15.95% 10.12% Stock beta 1.10 0.90 1.30 1.05...

Answered: 1 week ago

Question

★★★★★

Monterey Co. makes and sells a single product. The current selling price is $15 per unit. Variable expenses are $9 per unit, and fixed expenses total $27,000 per month. Required: (Unless otherwise...

Answered: 1 week ago

Question

★★★★★

Autotech Manufacturing is engaged in the production of replacement parts for automobiles. One plant specializes in the production of two parts: Part #127 and Part #234. Part #127 produced the highest...

Answered: 1 week ago

Question

★★★★★

Generally accepted accounting principles require the use of accruals and deferrals in the determination of income. Required 1. How does accrual accounting affect the determination of income? Include...

Answered: 1 week ago

Question

★★★★★

8. The managing director wants you as the secretary of the company to send him detailed notes on market test ratios which are used for evaluating the shares and stock which are traded in the market....

Answered: 1 week ago

Question

★★★★★

Lee Industries Inc. and Lor Inc. enter into an agreement that requires Lor Inc. to build three diesel-electric engines to Lee's specifications. Both Lee and Lor follow ASPE and have calendar year...

Answered: 1 week ago

Question

★★★★★

Given the data in the following table the NPV of this project is $ _ _ _

Answered: 1 week ago

Question

★★★★★

Steam at 700 bar and 600 C is withdrawn from a steam line and adiabatically expanded to 10 bar at a rate of 2 kg/min. What is the temperature of the steam that was expanded, and what is the rate of...

Answered: 1 week ago

Question

★★★★★

Ashley Olson is early in her career and is now employed as the managing editor of a well-known business journal. Although she thoroughly enjoys her job and the people she works with, she would really...

Answered: 1 week ago

Question

★★★★★

1. (5 pts) Given y[n]= 2y[n-1] and y[0]=2, Write MATLAB code to calculate and plot y for 0

Answered: 1 week ago

Question

★★★★★

F ( t ) = t 4 + 1 8 t 2 + 8 1 2 , g ( t ) = ( t + 3 ) / 3 ; find ( f o g ) ( 9 )

Answered: 1 week ago

Question

★★★★★

How did they calculate allocated cost FLIGHT A FLIGHT 350 615 FLIGHT 3 1 Go GALS 20 G EXISTING SCHEME, DETERMINE THE OVE OR FLIGHTS A, B, AND C. 2 ED AT 7.00 PER K1.00 OF PILOT SALAF TOTAL NON-SALARY...

Answered: 1 week ago

Question

★★★★★

High Tech ManufacturingInc., incurred total indirect manufacturing labor costs of $540,000. The company is labor-intensive. Total labor hours during the period were 5,000. Using qualitativeanalysis,...

Answered: 1 week ago

Question

★★★★★

Start with AS/AD and IS/MP in full employment equilibrium. Assume the is a massive positive aggregate demand shock. How would this affect AS/AD and IS/MP and prices and output relative to the full...

Answered: 1 week ago

Question

★★★★★

You are the vice-president of finance for Exploratory Resources, headquartered in Calgary, In January 2012, your firm's American subsidiary obtained a six-month loan of $1.5 million (U.S.) from a...

Answered: 1 week ago

Question

★★★★★

United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...

Answered: 1 week ago

Question

★★★★★

What is managements primary objective?

Answered: 1 week ago

Question

★★★★★

Assume that a piece of equipment cost $5,000 and had accumulated depreciation of $3,000. What is the book value of the equipment? Is the book value equal to the fair market value of the equipment?...

Answered: 1 week ago

Question

★★★★★

What is a classifi ed balance sheet?

Answered: 1 week ago

Previous Question Next Question