FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The answer is c. Please explain how to approach answer. 3. A company purchased machinery for $10,800,000 on January 1, 2017. The machinery has a

The answer is c. Please explain how to approach answer.

image text in transcribed

3. A company purchased machinery for $10,800,000 on January 1, 2017. The machinery has a useful life of 10 years and an estimated salvage value of $800,000. What is the depreciation expense on the machinery for the year ended December 31, 2018, assuming that the double-declining-balance method is used? a. $2,160,000 b. $3,888,000 c. $1.728.000 d. $2,000,000 e. $1,600,000

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_2

Step: 3

blur-text-image_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

Management And Cost Accounting

Management And Cost Accounting

Authors: Charles T. Horngren, Alnoor Bhimani, Srikant M. Datar, George Foster

1st Edition

0130805475, 978-0130805478

More Books

Students also viewed these Accounting questions

Question

★★★★★
a. Suppose that banks have decided they need to keep a reserve ratio of 10%this guarantees that theyll have enough cash in ATM machines to keep depositors happy, and enough electronic deposits at the...

Answered: 1 week ago

Question

★★★★★
LO 14.5 MRP II stands for: a) material resource planning. b) management requirements planning. c) management resource planning. d) material revenue planning. e) material risk planning.

Answered: 1 week ago

Question

★★★★★
30. Let Xi,i 0 be independent and identically distributed random variables with probability mass function p(j) = P{Xi = j}, j = 1,..., m, m j=1 P(j) = 1 Find E[N], where N = min{n > 0 : Xn = X0}.

Answered: 1 week ago

Question

★★★★★
The following transactions were incurred by Whooley Fabricators during January, the first month of its fiscal year. Requirements 1. Record the proper journal entry for each transaction. a. $ 205,000...

Answered: 1 week ago

Question

★★★★★
Liquidity Ratios You have the following information on Marco's Polo Shop: total liabilities and equity = $207 million; current liabilities = $47 million, inventory = $62 million, and quick ratio =...

Answered: 1 week ago

Question

★★★★★
Consider the following four corporate bonds that have semiannual compounding: Bond #1 Price $1000.00 Coupon Rate 8% Years to Maturity 5 #2 Price $932.05 Coupon Rate 7% Years to Maturity 10 #3 Price...

Answered: 1 week ago

Question

★★★★★
Athena firm started the year with retained earnings of $1,300,000. Their net income during the year was $250,000. They paid dividends of $25,000. They also borrowed $100,000 that they will have to...

Answered: 1 week ago

Question

★★★★★
3. The identification of Critical-to-Quality (CTQ) Features and Key Characteristics is conducted as which phase of APQP? a. Plan and Define b. Product Design & Development c. Process Define &...

Answered: 1 week ago

Question

★★★★★
QUESTION 5 Explain how the sentiment analysis could be used by Spar (South African supermarket) to improve customer service quality. Include the following: a. explain the nature and importance of...

Answered: 1 week ago

Question

★★★★★
You and your friend want to start a company that sells pancakes. Your friend can make 1 pancake in 1 minute and process a payment in 2 minutes. You take 4 minutes for 1 pancake and 2 minutes for the...

Answered: 1 week ago

Question

★★★★★
Consider a source computer (S) transmitting a packet of size 15000 bits to a destination computer (D) over a network of two routers (R1 and R2) and three links (L1, L2 and L3). L1 connects S to R1;L2...

Answered: 1 week ago

Question

★★★★★
Becoming interculturally competent requires that you approach and initiate communication with persons from your culture that differ in some way. Microcultural groups represent those groups of persons...

Answered: 1 week ago

Question

★★★★★
How does your perception of time (i.e., monochronic or polychronic) affect your daily life? Your study schedule? Your free time?

Answered: 1 week ago

Question

★★★★★
What are some of the common stereotypes in your community of microcultural group members?

Answered: 1 week ago

Previous Question Next Question