Calculate the depreciation for the scenarios

Assignment Help Accounting Basics
Reference no: EM132429776

Question - Calculate the depreciation for the following scenarios.

Bought a piece of equipment costing $30,000, with a salvage value of $10,000.

a) Figure depreciation using SL depreciation, assuming a 10 year life.

b) Figure the units of production (activity) depreciation. Assuming that total units will be 100,000.

Year 1 - 20,000 units

Year 2 - 30,000 units

c) Figure the double declining balance depreciation for year one and year two. Assuming a 4 year life.

d) Figure partial year depreciation figuring that the equipment was purchased on October 1 - using SL Method.

e) Prepare the Depreciation Journal Entry for $3000.

Reference no: EM132429776

Questions Cloud

How is the principle of conformity examined : How is the principle of conformity examined? When and why do you think the subject in the experiment began to "second guess" himself?
What is the new depreciation using SL method : Bought a piece of equipment costing $110,000, with a salvage value of $10,000. What is the new depreciation using SL method
Treatment approaches for obsessive compulsive disorder : Briefly describe at least three treatment approaches for obsessive compulsive disorder that are considered best practices.
Biological psychology perspective in detail : Please explain from a biological psychology perspective in detail how the dopamine reward system mimic's addiction in adolescent video games.
Calculate the depreciation for the scenarios : Calculate the depreciation for the following scenarios. Bought a piece of equipment costing $30,000, with a salvage value of $10,000
BSBMGT517 Manage operational plan Assignment : BSBMGT517 Manage operational plan Assignment Help and Solution, Orange International College - Assessment Writing Service - monitor and review the operational
Negative reinforcement-positive punishment : Read the following example and select whether it is positive reinforcement, negative reinforcement, positive punishment, or negative punishment for Ellie.
The brocks should have in emergency fund : What is the minimum amount that the Brocks should have in an emergency fund? What actions might be taken to increase the amount in this fund?
Determine a reporting entity functional currency : What factors are used to determine a reporting entity's functional currency? Distinguish between an upstream sale of inventory and a downstream sale

Reviews

Write a Review

Accounting Basics Questions & Answers

  Basic precision and total projected misstatement

Calculate basic precision and the total projected misstatement. Determine the incremental allowance for sampling risk and the upper misstatement limit.

  Major issue with international courts

The state of California is requiring all commercial trucks to get special windshield wipers installed at a price of $1,000 a pop. It's supposed to increase safety, but this has not been fully proven. Trucks will have to go around the state to avoi..

  From the waterlogged records of the company management was

on april 8 2010 a flood destroyed the warehouse of stuco distributing co. from the waterlogged records of the company

  On july 1 2010 atwater corporation issued 1681700 face

on july 1 2010 atwater corporation issued 1681700 face value 9 10-year bonds at 1920720. this price resulted in an

  Prepare the entry to record the interest expense at october

The bonds were dated April 1, 2014, with interest payable April 1 and October 1. Prepare the entry to record the interest expense at October

  Procedure performed before the balance sheet date

Which of the following procedures is least likely to be performed before the balance sheet date?

  This sab deals with various revenue recognition issues

This SAB deals with various revenue recognition issues several of which are common within the retail Indus try.

  The balance sheet caption for common stock is common stock

the balance sheet caption for common stock is common stock 10 par value 7000000 shares authorized 5700000 shares issued

  Estimated salvage value

The MRI Trailer costs $600,000 and has an expected life of 5 years with an estimated salvage value of $200,000 at that time.  After some extensive research, the numbers we have come up with look like this:

  Cameron inc is a defendant in a lawsuit the companys

cameron inc. is a defendant in a lawsuit. the companys attorney has indicated that a loss is probable. the amount of

  Different pieces of information to work out the requirements

The question requires you to do some deep thinking and 'connect' different pieces of information to work out the requirements.

  Development of the thesis

The development of the thesis is accomplished in the introduction of the speech.

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