Compute the book value as of december

Assignment Help Financial Accounting
Reference no: EM132958790

Sum of the Years Digits - Compute the book value as of December 31, 2021

Cost 150,000                             Original Useful Life 10 Years

Salvage Value 10,000                  Sum of Years Digits

Depreciable Base 140,000             Acquisition Date: 4/10/2018

Original Cost $150,000

Problem 1: Use Sum of the Years Digits - Compute the book value as of December 31, 2021

Reference no: EM132958790

Questions Cloud

Analyze reports generated by accounting software : Record transactions and events for the organization using accounting software. Analyze reports generated by accounting software.
Find the amount of goodwill purchased by purple corp : Carrying value of assets P200,000 (estimated fair value, P230,000). Sable's total liabilities were P105,000. The amount of goodwill purchased by Purple Corp was
What qbo has explored so far : What role, in what QBO has explored so far, do you like best? Let's try to discuss the different features. how to set up a sample company in QuickBooks Online.
Calculate the amount of bond discount or premium : The bonds which were issued at 99, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium
Compute the book value as of december : Use Sum of the Years Digits - Compute the book value as of December 31, 2021. Original Useful Life 10 Years. Acquisition Date: 4/10/2018
What three key advantages of diminishing value depreciation : Question - What three key advantages of the Diminishing Value depreciation method and three key advantages of the Prime Cost depreciation method
What is the note present value : The maturity value is $26,000 on a 12.57% simple interest note due on September 15th. What is the note's present value when it was made on June 15th?
What is the deferred grant income on dec : The prevailing rate of interest for a loan of this type is 10% and the present value of 1 at 10% for 3 years is .75. What is the deferred grant income on Dec
What is capitalized interest : What is capitalized interest? Are we ever required to record capitalized interest? Do you believe capitalized interest is a proper accounting treatment?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What amount of liability related to the season tickets

What amount of liability (if any) related to the season tickets should be reported on the team's December 31. 2020, statement of?nancial position?

  What is the company required minimum rate of return

If the operating assets are $1695141 in the beginning of the year and $2404168 at the end of the year, what is the company's required minimum rate of return?

  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 amount should cash be debited

What amount should "Share Premium -Preference Share Capital " be credited? At what amount should "Ordinary Share Capital " be credited?

  Which a dividend from the investee is

If an investor owns 18% of an investee, a dividend from the investee is? An expense to the investor in the period of declaration.

  Prepare all journal entries required

Warranty claims incurred during 2016 amounted to $26,000. Prepare all 2016 journal entries required by the information above

  The separate performance obligations in the contract

Creative Computing sells a tablet computer called the Protab. The $620 sales price of a Protab Package includes the following: Indicated below whether each item is a separate performance obligation and allocate the transaction price of 120,000 Protab..

  How can be right when all these research and development

How can this be right when all these research and development costs are design costs? Please justify this with reference to relevant accounting standards.

  Computation of taxable income

Machinery was acquired in January for $300,000. Straight-line depreciation over a ten-year life (no salvage value) is used. For tax purposes, MACRS depreciation is used and Bosch may deduct 14% for 2015. Interest received on tax exempt Iowa State bon..

  Calculate the amount of unearned revenue reported

Calculate the amount of unearned revenue reported in the company's December 31 2028 balance sheet. Company received 20,000 cash on march 1 2030

  Make a flexible budget for the beverage division

Make a flexible budget for the Beverage Division using production levels of 45,000 units, 50,000 units, and 55,000 units. If required, round per unit amounts to two decimal places

  Calculate the amount of capital funding harper dog pens

Solve the amount of capital funding Harper's Dog Pens raised through this bond issue. Enter your answer in dollars not in millions.

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