Company purchased a rope braiding machine for 198250 the

Reference no: EM13582853

1.A company used straight-line depreciation for an item of equipment that cost $16,500, had a salvage value of $4,000, and had a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,800 and its total useful life was increased from 5 years to 6 years. Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life:

$2,940.
$2,450.
$2,267.
$1,500.
$2,400.

2.A company's income before interest expense and taxes is $250,000 and its interest expense is $80,000. Its times interest earned ratio is:

3.13

1.00

2.81

1.81

0.32

The current FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $6,100 of an employee's pay. Assume that an employee earned $11,300. What is the amount of total unemployment taxes the employer must pay on this employee's wages?

Zero, since the employee's wages exceed the maximum of $6,100.

$378.20.
$90.40.
$700.60.
$610.20.

3.Company purchased a rope braiding machine for $198,250. The machine has a useful life of 8 years and a residual value of $10,500. It is estimated that the machine could produce 751,000 units of climbing rope over its useful life. In the first year, 105,500 units were produced. In the second year, production increased to 109,500 units. Using the units-of-production method, what is the amount of depreciation that should be recorded for the second year?

$26,375.
$27,850.
$53,750.
$27,375.
$28,906.

Reference no: EM13582853

Questions Cloud

Maryland company offers a bonus plan to its employees equal : 1.maryland company offers a bonus plan to its employees equal to 2 of net income. marylands net income is expected to

On december 31 201x budgetary status reports showed : quarterly allotments for the appropriation to the state library system for the fiscal year beginning july 1 201x and

During the period teens trends sold some excess equipment : during the period teens trends sold some excess equipment at a loss. the following information was collected from the

A restaurant purchased 7500 of food inventory on credit : 1.a restaurant purchased 7500 of food inventory on credit with terms of 35 net 30. calculate the cash discount and

Company purchased a rope braiding machine for 198250 the : 1.a company used straight-line depreciation for an item of equipment that cost 16500 had a salvage value of 4000 and

Consultex inc was founded in 2007 as a small financial : consultex inc. was founded in 2007 as a small financial consulting business. the company had done reasonably well in

Assume grape prices for a region are normally distributed : suppose a study reports that the average price for a kilogram of grapes is 3.16. you believe that the price is higher

According to a recent research report the average monthly : according to a recent research report the average monthly household mobile phone bill is 73. suppose monthly household

Denton company has a large portion of its plant assets : denton company has a large portion of its plant assets concentrated in an area where technology is changing rapidly.

User Account

All Pages