Business assets-depreciation schedule

Assignment Help Accounting Basics
Reference no: EM13115414

You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create a depreciation schedule for each of the following

1. A copy machine that costs $1,800, shipping $50 and installed for $125 depreciated using the straight-line method over 5 years. The salvage value of the copy machine is $200. In your depreciation schedule, give the following information for each year: the year's depreciation, the accumulated depreciation, and the year's end-of-book value.

2. The same copy machine in part 1, has now been decided that it would be more beneficial using units-of-production depreciation. The copy machine is expected to make 5,000,000 copies during its useful life and has already made 925,000 copies. In the second year, 985,225 copies were made; third year, 989,500; fourth year, 935,275; and fifth year 1,165,000. In your depreciation schedule, give the following information for each year: number of copies made, the year's depreciation, the accumulated depreciation, and the year's end-of-book value.

Reference no: EM13115414

Questions Cloud

What is the final temperature of the gas : A sample of gas is heated. During the heating process, the volume of the gas increases 1.7 times. If the initial temperature of the gas is 80°C, what is the final temperature of the gas.
Why does lactose act as an inducer : Describe the activity of the bacterial lac operon when glucose it present and when it is not present (include whether or not lac operon genes are expressed and why) also include points a, b, and c below;(a) Why does lactose act as an inducer?
Capital structure and dividend policy : The firm's ability to accelerate or delay investment projects, A strong preference by most shareholders in the economy for current cash income versus capital gains, constraints imposed by the firm's bond indenture
What is the new volume of the balloon : A helium balloon is filled to a volume of 2.5 L at atmospheric pressure. If the balloon is placed inside a sealed container and the pressure is reduced to 455 torr.
Business assets-depreciation schedule : You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create a depreciation schedule for each of the following
Computing flexible budget amounts : What would be the flexible budget amounts at an activity level of 12,000 machine hours if indirect materials is a variable cost and factory rent was a fixed cost?
What does the volume correction constant : What does the volume correction constant (b) in the van der Waals equation represent? Why is b for helium small (b = 0.0238 L /?mol) compared to b for decane (C10H22, b = 0.3043).
Incremental effect on company overall profit : Hodge Inc. has some material that originally cost $74,600. The material has a scrap value of $57,400 as is, but if reworked at a cost of $1,500, it could be sold for $54,500.
Why would you use same enzyme to cut the human dna : you wish to insert a human gene into bacterial DNA.Why would you use same enzyme to cut the human DNA as you selected to cut the bacteria DNA above? please only those who know the details.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Promulgating and implementing accounting principles

What is the distinctive difference between the United States focus on promulgating and implementing accounting principles and that of other countries?

  Calculate amount of cash and marketable securities

Using Excel show all formulas for following: Firm has current assets of 100 million and current liabilities of 50 million and goes belly-up.

  Starling coating and substitution

Starling Coating produces weatherproofing coatings that protect metal from oxidation. One of Starling's patented coatings, zurtan, is composed of two inputs, magna45 and zelon. While both inputs are required, they can be substituted for each other..

  Impairment of intengible assets

A toffee company discovers that its competitor is producing and selling what appears to be its patented toffee-coated popcorn for a cheaper price.

  Accrue monthly sales salaries expense

Metro Express has 5 sales employees, each of whom earns $4,000 per month and is paid on the last working day, of the month. Each employee, wages are subject to FICA social security taxes of 6.2% and Medicare taxes of 1.45% on all wages.

  Determining quick ratio

Water works Inc has a current ratio of 1.33, current liabilities of 540,000 and inventory of 400,000. What is water works quick ratio

  Formulating linear program

A garden store prepares various grades of pine bark for mulch: nuggets, mini nuggets, and chips.The following table gives information regarding the different requirements.

  Determining manufacturing and net income

The Adler Company manufactures a product with a unit variable cost of $50 and a unit sales price of $88. Fixed manufacturing costs were $240,000 when 10,000 units were produced and sold.

  Cash and receivables journal entries

Salen Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2012, it assigned, under guarantee, specific accounts amounting to $150,000.

  Defined benefit pension plan

TRM Corporation established a defined benefit pension plan in Year 5. In Year 8 the following information is available. Service cost = $45,000. Interest cost = $60,000.

  Determine initial tax basis

An apartment house was purchased on July 8 of last year, by a taxpayer who computes her taxes on a calendar basis. Her depreciation deduction last year was $7,902.

  Two-stage method cost allocation for overhead

Explain the activity-based costing (ABC) and traditional two-stage method cost allocation for overhead. Why would a firm use activity-based costing (ABC) rather than traditional two-stage methods of cost allocation for overhead?

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