Calculate the amount of depreciation

Assignment Help Accounting Basics
Reference no: EM132652949

Question - Calculate the amount of depreciation for;

Warehouse Fixtures and Fittings depreciation is based on 15 years usage and the straight line method (residual value $6 000) , the cost was $42,000, Accumulated depreciation is $15,000

The old Delivery Truck sold on 30 June is depreciated at 20% using the diminishing balance method (residual $8 000), the cost was $65,000, Accumulated depreciation is $47,000.

The new Delivery Truck bought on 30 June is to be depreciated at 25% using the diminishing balance method (residual $10,000), the cost was $74000.

Reference no: EM132652949

Questions Cloud

Strong role in the american political system : What are the advantages and disadvantages of states having a strong role in the American political system?
Calculate the effective rate of interest : A credit card company quotes a nominal APR (annual percentage rate) of interest of 15%. Calculate the effective rate of interest
What is the share price of firm : The firm you are CEO of has a current period cash flow of 2.1 million and pays no dividend. The present value of the company's future cash flows is $17.5 millio
How deindustrialization impacted the future of work : How deindustrialization impacted the future of work, giving at least three concrete examples from the textbook. Be sure to consider the uneven impacts
Calculate the amount of depreciation : Calculate the amount of depreciation for; Warehouse Fixtures and Fittings depreciation is based on 15 years usage and the straight line method
Explain the difference between fixed and flexible budgeting : Explain the difference between fixed and flexible budgeting and explain how budgets are used to allocate resources for business operations
Anti-miscegenation statutes : Compare and contrast both cases in regards to the Anti-Miscegenation Statutes.
Measuring business performance and setting objectives : What is ratio analysis; how can it help in measuring business performance and setting objectives/ goals and how can you ensure accuracy when collecting data
Calculate the competitive price that denise should consider : A spacious, 200 m2, older property in Berriedale, priced at $450,000, Calculate the competitive price that Denise should consider

Reviews

Write a Review

Accounting Basics Questions & Answers

  Define the fee-for-service and prepaid health plan models

Define and then compare and contrast the fee-for-service and prepaid health plan models. What is the best type of health insurance

  Grocery corporation received 300328 for 250000 11 bonds

grocery corporation received 300328 for 250000 11 bonds issued on january 1 2009 at a market interest rate of 8. the

  Quick industries inc has 4000 shares of 5 20par preferred

quick industries inc. has 4000 shares of 5 20par preferred stock and 150000 shares of 1 par common stock outstanding.

  Journal entry will lily make to record the recall

Assume that Lily Corporation has outstanding 1,500 shares of $150 par callable preferred stock that were issued .

  A manager wishes to find out whether there is a

a manager wishes to find out whether there is a relationship between the number of radio ads aired per week and the

  Find the total overhead costs using a single overhead rate

What is the total overhead costs assigned to deluxe racquets, using a single overhead rate. Using activity-based costing, how much assembly costis assigned to deluxe racquets?

  Determine the cost per equivalent unit of conversion

Dorchester uses the weighted-average process costing method. Determine the cost per equivalent unit of conversion for the month of March

  Calculate the value of cogs for the month of april

Required - Calculate the value of COGS for the month of April and the value of ending inventory at the end of April using the FIFO method

  Prepare internal factor evaluation for the coca-cola company

What strategies do you think would allow Coca-Cola to capitalize on its major strengths? Prepare Internal Factor Evaluation for the Coca-Cola Company.

  Determine the amount of impairment and record the loss

The owner of a ski resort in Colorado is doing a review for impairment as of December 31, 20X1. Determine the amount of impairment and record the loss

  How much of money in Edwin account was earned in interest

When Edwin was born, his grandparents started a savings account for him with a beginning balance of $300. How much of money in Edwin account was earned

  What are margin and turnover

What are margin and turnover? Explain how these concepts can improve the evaluation of an investment center

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