Calculate depreciation expense for 2012 and 2013

Assignment Help Accounting Basics

Reference no: EM13123035

A machine which cost $300,000 is acquired on October 1, 2012. Its estimated salvage value is $30,000, and its expected life is eight years.

Required:

Calculate depreciation expense for 2012 and 2013 by each of the following methods, showing the figures used.
(a) Double-declining balance
(b) Sum-of-the-years'-digits

Reference no: EM13123035

Questions Cloud

Create confidence in results increase if sample size-value : Found that 47% enjoy playing sports. would confidence in the results increase if the sample size were 3600 instead of 1100. why or why not?

How are inventory losses disclosed on the income statement : At 12/31/12, the end of Jenner Company's first year of business, inventory was $4,100 and $2,800 at cost and market, respectively. Following is data relative to the 12/31/13 inventory of Jenner.

Writing the demand function in inverse form to graph : Suppose demand is expressed as QD = 300 - 50P. If we want to make this equation consistent with the typical supply and demand diagram, this equation must be stated as:

Cash proceeds at the time of bond : Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold?

Calculate depreciation expense for 2012 and 2013 : A machine which cost $300,000 is acquired on October 1, 2012. Its estimated salvage value is $30,000, and its expected life is eight years.

Explain single linear regression model : Consider the single Linear Regression Model: without an intercept (β is a scalar constant; X is a scalar random variable).

Problem on contribution margin ratio : Bailey Company sells 25,000 units at $15 per unit. Variable costs are $8 per unit, and fixed costs are $35,000. The contribution margin ratio and the unit contribution margin, (rounding to two decimal points) are:

Information about discontinuous functions : Find the values of f(x) at which each of the following functions is discontinuous. Why is the function discontinuous at that value?

What are the differences between these two methods : Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?

User Account

All Pages