Calculate depreciation expense of equipment for first year

Assignment Help Accounting Basics
Reference no: EM132031612

Question - Super Saver Groceries purchased store equipment for $33,000. Super Saver estimates that at the end of its 8-year service life, the equipment will be worth $3,000. During the 8-year period, the company expects to use the equipment for a total of 10,000 hours. Super Saver used the equipment for 1,500 hours the first year.

Required: Calculate depreciation expense of the equipment for the first year, using each of the following methods. (Do not round your intermediate calculations.)

1. Straight-line.

2. Double-declining-balance.

3. Activity-based.

Reference no: EM132031612

Questions Cloud

Standard curve with different measurements : Would this be a better method than doing the standard curve with different measurements. why or why not?
Ideal gas laws to calculate the mass : Use the ideal gas laws to calculate the mass of 25 m3 of a mixture of 21% v/v oxygen (O2) and 79% nitrogen (N2) which is at a temperature
Calculate the book value of the firm : Total assets of a firm are $1,000,000 and the total liabilities are $400,000. 500,000 shares of common stock have been issued and 250,000 shares are outstanding
Concentration ratio of the acid to base : When using bromothymol blue as the indicator, what is the pH of the solution when the concentration ratio of the acid to base form of the indicator is 1.4
Calculate depreciation expense of equipment for first year : Super Saver Groceries purchased store equipment for $33,000. Calculate depreciation expense of the equipment for the first year
Explain how you might incorporate the authors advice : Explain how you might incorporate the author's advice into how you handle your finances (personal, school, etc.) going forward.
Calculate the energy of combustion for 1 mole of c2h4 : When a 0.105 g sample of C2H4 was burned in this calorimeter, the temperature increased by 2.14 K.
What could she expect to make in profit with this strategy : The spot rate this morning is 120.50 Yen/$, and early indications are that 90-day interest rates in the United States will rise from their current level of 4.12
What is the specific heat capacity of gold : What is the specific heat capacity of gold if it requires 48.8 J to raise the temperature of 15 grams of gold 25 C?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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