A factory machine was purchased for 60000 on january 1 2010

Assignment Help Accounting Basics
Reference no: EM13582248

A factory machine was purchased for $60,000 on January 1, 2010. It was estimated that it would have a $12,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the 5 years.

If the actual number of machine hours ran in 2010 was 4,000 hours and the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2010 would be?

Reference no: EM13582248

Questions Cloud

Use the following information for first corp complete the : use the following information for first corp. complete the statement of cash flows indirect method for the year ended
Give the entries necessary to record the valuations for : a bennet company paid cash dividends totaling 150000 in 2006 and 75000 in 2007. in 2008 bennett intends to pay cash
Hoen manufacturing company experienced the following : hoen manufacturing company experienced the following accounting events during its first year of operation. with the
Joan corp sold office equipment on january 12009 for a cash : joan corp sold office equipment on january 12009 for a cash price of 430000. the equipment had a cost of 500000 and
A factory machine was purchased for 60000 on january 1 2010 : a factory machine was purchased for 60000 on january 1 2010. it was estimated that it would have a 12000 salvage value
Webster training services wts provides instruction on the : webster training services wts provides instruction on the use of computer software for the employees of its corporate
Falcon co produces a single product its normal selling : falcon co. produces a single product. its normal selling price is 30.00 per unit. the variable costs are 19.00 per
Computer equipment built one year ago at a cost of 16000 : haritable contributions of property. blue corporation donates the following property to johnson elementary schoolbull
Buff company purchased a building for 900000 cash on : buff company purchased a building for 900000 cash on october 1 2009. the estimated life is 20 years and the salvage

Reviews

Write a Review

Accounting Basics Questions & Answers

  Products kappa and sigma are joint products the joint

products kappa and sigma are joint products. the joint production cost of the products is 800. kappa has a market value

  Prepare the journal entry for the issuance of the bonds

On June 1, 2013, Madison notified bondholders of its intent to call the bonds at face value plus a 1% call premium on July 1, 2013. By June 30 all bondholders had chosen to convert their bonds into shares as of the interest payment date. On June 3..

  What consolidation worksheet entry would be made

when a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolidation worksheet entry would be made?

  Leslie sporting goods is a locally owned store that

nbspleslie sporting goods is a locally owned store that specializes in printing team jerseys. the majority of its

  Tv network probability for cancelling show

A television network decides to cancel one of its shows if it is convinced that less than 14% of the viewing public are watching this show.

  Mathews guitar company makes high-quality customized

mathews guitar company makes high-quality customized guitars. mathews uses a job order costing system. because the

  Describe the financial statement misstatements

For inadequacies in internal controls describe the financial statement misstatements that may arise, and describe how they may occur.

  Entry to eliminate subsidiary income and dividends

Under the partial equity method, the entry to eliminate subsidiary income and dividends includes a debit to

  Wehr inc is preparing its cash budget for april the

wehr inc. is preparing its cash budget for april. the budgeted beginning cash balance is 19000. budgeted cash receipts

  Why is materiality sometimes difficult to apply in practice

Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?

  Business question-journal entries

During the current year, the Yellow Rose Company completed construction of a new assembly facility in Ocala, Florida. The facility will receive components from Yellow Rose other facilities and assemble them for shipment to distributors. The follow..

  Ending balance of accounts receivable

In its first month in business, Jones, Inc. sold merchandise to customers on account for $119,800. It collected $72,000 on those sales during the first month and recorded Revenue for the period of $119,800.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd