Basics of straight-line method of depreciation

Assignment Help Accounting Basics

Reference no: EM13147850

On January 1, 2010, Miller Company purchased for $275,000 a machine with an estimated useful life of 10 years and no salvage value. The machine was depreciated using the sum-of-the-years' digits method. On January 1, 2011, Miller changed to the straight-line method of depreciation. The estimated useful life has not changed. Miller can justify the change. What should be the depreciation expense on this machine for the year ended December 31, 2011?

Reference no: EM13147850

Questions Cloud

Which is characteristic of all mammals and only of mammals : Which characteristic should permit the class to conclude that it is probably not a snake?

Explain the rate constant of a certain reaction : The rate constant of a certain reaction is known to obey the Arrhenius equation, and to have an activation energy

Prepare a multiple step income statement : FocusMore Inc. had the following alphabetical list of accounts taken from its adjusted trial balance at December 31, 2010.

The availability sources of phosphorus from mines : some people predict that the availability sources of phosphorus from mines will be exhausted in the next 50 years. Describe what change are likely to occur in ecosystems in phosphorus is not available.

Basics of straight-line method of depreciation : On January 1, 2011, Miller changed to the straight-line method of depreciation. The estimated useful life has not changed. Miller can justify the change. What should be the depreciation expense on this machine for the year ended December 31, 2011?

What is the percent by mass of sulfur trioxide : What is the percent by mass of sulfur trioxide (SO3) if oleum is expressed as 3H2SO4 . 5SO3?

Phyllos''s lawyer suggests that he take better : Phyllos's lawyer suggests that he take better control over his music. With respect to intellectual property laws, what considerations does he have both in the US and in foreign countries?

Where does the label appear in mevalonate : When palmitate labeled with 14C at every odd-numbered carbon is added to a liver homogenate, where does the label appear in mevalonate?

Find confidence interval for the mean score on each exam : Find the 95 percent confidence interval for the mean score on each exam. Do the confidence intervals overlap? If so, what does this suggest?

User Account

All Pages