Compute the 2018 depreciation

Assignment Help Financial Accounting
Reference no: EM132419697

Problem: Oriole Company purchased a hot tub for $10,605 on January 1, 2016. Straight-line depreciation is used, based on a 6-year life and a $1,695 salvage value. In 2018, the estimates are revised. Oriolenow feels the hot tub will be used until December 31, 2020, when it can be sold for $795.

Required:

Compute the 2018 depreciation. Please describe your solutions.

Reference no: EM132419697

Questions Cloud

What role research play in criminal justice policy making : What role does research play in criminal justice policy making? How do your perceptions of criminal justice policy making and policy analysis compare to the.
How to calculate this break-even : What could be break even point in Total assets turnover (TATO) to make shareholders beneficial in project?
Describe the responsibilities of law enforcement officers : You will begin your essay by first describing the crime itself and then the events that occurred at the crime scene. First, describe the responsibilities.
Describe each type of law identified in the juriglobe site : For this week's assignment, you will evaluate criminal justice systems via JuriGlobe: World Legal Systems. Across the globe, there are various types of law.
Compute the 2018 depreciation : Oriolenow feels the hot tub will be used until December 31, 2020, when it can be sold for $795. Compute the 2018 depreciation.
What we have discussed regarding the formation of gangs : How was the formation of Native American gangs depicted in the film similar to what we have discussed regarding the formation of gangs in New York?
Article on designing team and team identity : Using the Internet read one academically reviewed article on Designing Team and Team Identity,
ICT102 Introduction to Programming Assignment : ICT102 Introduction to Programming Assignment Help and Solution, Kings Own Institute - Assessment Writing service - Write a program that uses nested loops
Analysis the alfa romeo hewlett packard,subway,or sony : Analysis the Alfa Romeo Hewlett Packard,Subway,or Sony Assignment help and solutions:-What would grab the customers/users' attention?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare an inventory purchases budget for april

Prepare an inventory purchases budget for April, May. and June - Determine the amount of ending inventory Thornton will report on the end-of-quarter pro form

  Why is amount of this adjustment reduced from year to year

one company purchases the outstanding debt instruments of an affiliated company on the open market. Why is  amount of this adjustment reduced from year to year?

  Represents an abrogation of the academics

HI6025 Accounting Theory and Current Issue. As Watts and Zimmerman (1986, p. 7) state, Positive Accounting Theory ‘is concerned with explaining [accounting] practice. Do you think that this represents an ‘abrogation' of the academics' duty to serve t..

  How would you use cvp analysis to develop a budget

How would you use CVP analysis to develop a budget? Elaborate using examples. How can the sales department use the CVP tool when analyzing customer profitability?

  Excluded from income

Which of the following items would be excluded from income? (a) $100 bill found under the sugar caddy at the restaurant (b) Inheritance of a car from your grandmother valued at $5,000. (c) Loan from your father-in-law to start your business, (d) Chil..

  Find what is the products contribution margin

What is product's contribution margin? What is the product's CM ratio? The president expects sales to increase by 25% this year. If sales do increase by 25%, how much could fixed costs increase and still maintain net operating income of $12,000?

  What is the effect on account balances

What is the effect on account balances when an adjusting entry to record an unrecorded receivable is made?

  Read headline think before you spend and then drawing on

read headline think before you spend and then drawing on material covered in this subject accounting theory identify

  The expense recognition principle requires expenses

According to the expense recognition principle, wages expense is recognized on the income statement when the wages are paid rather than when the employee provides the work. The expense recognition principle requires expenses to be recorded on the inc..

  What would be the average fixed inspection cost

Erkkila Inc. reports that at an activity level of 6,100 machine-hours in a month, its total variable inspection cost is $425,480 and its total fixed inspection cost is $166,656. What would be the average fixed inspection cost per unit at an activity ..

  Prepare balance sheet with assests liabilities-owners equity

Presented below is the trial balance of the Crestwood Golf Club, Inc. as of December 31. The books are closed annually on December 31. CRESTWOOD GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit. Instructions prepare a balance sheet with assests..

  Explain the product and the production process

Explain the product and the production process and show how you would determine quantity of spoiled units that are normal versus abnormal.

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