Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fixed Asset Discussion: Identify a type of company in your pathway that might purchase fixed assets (see suggestions below). List 5 fixed assets that they

Fixed Asset Discussion:

  1. Identify a type of company in your pathway that might purchase fixed assets (see suggestions below).
  2. List 5 fixed assets that they might purchase to run their business.
  3. Select one depreciable fixed asset. Based on research suggest what the cost, residual value and estimated life might be for that fixed asset.
  4. Using your assumptions above, calculate:
    1. Straight-line depreciation and book value for each of the first two years
    2. Declining Balance depreciation and book value for each of the first two years
    3. Units of Production depreciation (make assumptions about the first two years use), and book value for each of the first two years.
  5. Suggest which depreciation method might be more appropriate and why.

Post your answer to the questions. Reply to at least two of your classmates' posts, commenting on the different types of fixed assets that are required for the type of business that they selected and the recommended depreciation method. Each reply must be at least 5 sentences long, detailed, and thorough.

Examples of sectors/industries in pathways could be:

  • AHCD: Media, Dance, Theater, Film production, Graphics design or Architecture
  • Business: Tourism/Leisure, Telecommunications, Retailers, Computers, Equipment, Food and Beverage Products, Real Estate, Technology Hardware, Toys, Commercial Services, Financial Services, any business is acceptable
  • Education: Non-Profit Services, Public Agency, Child care, Charter schools, Universities
  • Health Sciences: Health Care Services, Healthcare Products, Hospital, Household Products, Chemicals
  • IMCT: Aviation, Construction, Construction Materials, Logistics, Automotive, Mining
  • Public Safety: Equipment providers for the industry, Public Agency, Non-Profit Services
  • STEM: Engineering, Computers. Chemicals, Energy, Energy Utilities, Technology Hardware
  • SGSHS: Healthcare Services, Non-Profit Services, Media, Public Agency

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

College Accounting, Chapters 1-27

Authors: James A. Heintz, Robert W. Parry

21st Edition

1285055411, 9781285055411

More Books

Students also viewed these Accounting questions