Compute depreciation expense on the machine

Assignment Help Accounting Basics
Reference no: EM13325211

(Depreciation for Partial Periods-SL, Act., SYD, and DDB)

The cost of equipment purchased by Charleston, Inc., on June 1, 2010 is $89,000. It is estimated that the machine will have a $5,000 salvage value at the end of its service life. Its service life is estimated at 7 years; its total working hours are estimated at 42,000 and its total production is estimated at 525,000 units. During 2010 the machine was operated 6,000 hours and produced 55,000 units. During 2011 the machine was operated 5,500 hours and produced 48,000 units.

Compute depreciation expense on the machine for the year ending December 31, 2010, and the year ending December 31, 2011, using the following methods.

a) Straight-line.
b) Units of output.
c) Working hours.
d) Sum of the years' digits
e) Declining balance (twice the straight-line rate)

Reference no: EM13325211

Questions Cloud

Explain what is the pka of the weak acid : A 0.24ml sample of a weak acid with an unknown pKa was combined with 12.0ml of a 3.20M KOH and the resulting was diluted to 1.500L. The measured pH of the solution was 3.75. What is the pKa of the weak acid
Depict major organic products for the sn1 reaction : Select the correct IUPAC name for the following organic substrate, including the R or S designation where appropriate, and draw the major organic product(s) for the SN1 reaction.
What is the speed of the plane in still air : An inexperience novice pilot was taking his brand new Cessna Skyhawk-172R plane for a trip from Tallahassee to Atlanta, which is 375 km due north. What is the speed of the plane in still air
Indistinguishable in appearence : You are given three brothers all indistinguishable in appearence. John and James always tell the truth and William always lies. You meet one of the three brothers on the street and wish to find out if he is john. Is there now a three word yes or no q..
Compute depreciation expense on the machine : Compute depreciation expense on the machine for the year ending December 31, 2010, and the year ending December 31, 2011, using the Straight-line method
What is the mass of the plane : A Japan Airlines Boeing 747 accelerates from rest to lift-off speed of 78.51 m/s in 28.20 s. What is the mass of the plane
Find out the number of unpaired electrons : After completing the orbital diagram of each element, determine the number of unpaired electrons for the following elements: Titanium Phosphorus Copper Selenium Fe+2 Na+ Mn+4 Cl+3
Evaluate the corrected trial balance : Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
Determine the charge of the particle : A moving particle encounters an external electric field that decreases its kinetic energy from 8560 eV to 7750 eV as the particle moves from position A to position B. Determine the charge of the particle

Reviews

Write a Review

Accounting Basics Questions & Answers

  Amount of the acquired total capital loss

Gate Corp. had a net capital gain (computed without regard to any capital loss carryover) of $20,000 for calendar-year 2010. What amount of the acquired net capital loss of $80,000 can be used to offset Gate Corp's net capital gain for 2010?

  Prepare journal entries for virginia and stateside

a. Prepare journal entries for Virginia and Stateside to record the sales/purchases during 2010. b. Prepare the consolidation entries that should be made at the end of 2010. c. Prepare any 2011consolidation worksheet entries that would be required re..

  Capital budget financed with debt

It finances with debt and common equity, but it wants to avoid issuing any new common stock during the coming year. Given these constraints, what percentage of the capital budget must be financed with debt?

  Financial accounting and managerial accounting

Which of the following is not a difference between financial accounting and managerial accounting?

  Calculator processing cycle efficiency

Calculator processing cycle efficiency (PCE) under the traditional and JIT systems for the Nosun Product.

  Preliminary analytical procedures

Using Ocean's financial information, calculate relevant preliminary analytical procedures (e.g., ratio tests, and other financial statistics) to obtain a better understanding of the prospective client and to determine how Ocean is doing financiall..

  Residual income for the boxed candy division

The purchase of Truffles Inc. will require an investment of $800,000 and with the synergy between the two companies will increase the Boxed Candy Division's operating income by $76,000. The residual income for the Boxed Candy Division after the pu..

  Minimum transfer price under different situations

The following facts are available regarding the Personal Computer (PC) Division. Selling price of standard circuit board $57 Variable cost of standard circuit board 30 Additional variable cost of special circuit board 21 Determine minimum transfer pr..

  Determining expenses on vacations

During 2012, Harry, a self-employed accountant, travels from Kansas City to Miami for a 1-week business trip.

  What the general rules under us gaap

The sales price that is stated in the agreement for this combined product is $500,000 and is to be paid upon delivery of the software.

  Problem on straight-line method of depreciation

On October 1, 2010, Mann Company places a new asset into service. The cost of the asset is $40,000 with an estimated 5-year life and $10,000 salvage value at the end of its useful life. What is the depreciation expense for 2010 if Mann Company use..

  Computation of pension expense

The computation of pension expense includes all the following except a. service cost component measured using current salary levels. b. interest on projected benefit obligation.

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