Compute each of the three methods listed

Assignment Help Financial Accounting

Reference no: EM13128098

On April 29, 2011, Quality Appliances purchased equipment for $260,000. The estimated service life of the equipment is 8 years and the estimated residual value is $38,000. Quality's fiscal year ends on December 31.

Required:

Calculate depreciation for 2011 and 2012 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service. (Do not round intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" signs in your response.)

Reference no: EM13128098

Questions Cloud

What impact do these differences have on income : What are some of the differences between variable and full costing? What impact do these differences have on income?

Find derivative-instant rate of change : Find the average rate of change from x=2 to x=5. Find the derivative f'(x) from first principles, by setting up the difference quotient, (f(x+h)-f(x))/(h) and finding lim h->0 (f(x+h)-f(x))/(h)

State conditions needed to build a confidence interval : They select a random sample of 525 employment records, and find that 229 of the people are females. State the conditions needed to build a confidence interval.

How do the transactions in the divorce agreement affect : Transfer title of their personal home to Barbara. They purchased the house in 1998 and their basis today is $400,000. The fair market value of the house is $500,000. The house is subject to a 25-year, $250,000 mortgage.

Compute each of the three methods listed : Compute depreciation for 2011 and 2012 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service.

What is the new pressure of the gas in pa : A 771 mL gas sample at STP is compressed to a volume of 242 mL, and the temperature is increased to 31?C. What is the new pressure of the gas in Pa

Determining the felts gross profit : The beginning inventory (Jan. 1, 2010) was $170,000; in the past Felt's gross profit has averaged 40% of selling price.

Derivatives and extrema : Find f'(x) using the appropriate rule and simplify to one expression with positive exponents. Find all values of x, using algebra, where f'(x)=0 (Write your answer with positive exponents)

Find true proportion of americans in favor of gun control : Estimate the true proportion of all Americans who are in favor of gun control legislation using a 90% confidence interval.

User Account

All Pages