User Account

All Pages

Compute the depreciation charge

Assignment Help Accounting Basics
Reference no: EM132982321

Problem - Metlock Corp. purchased machinery for $346,500 on May 1, 2020. It is estimated that it will have a - useful life of 10 years, salvage value of $16,500, production of 264,000 units, and working hours of 25,000. During 2021, Metlock Corp. uses the machinery for 2,650 hours, and the machinery produces 28,000 units.

From the information given, compute the depreciation charge for 2021 under each of the following methods.

(a) Straight-line

(b) Units-of-output

(c) Working hours

(d) Sum-of-the-years'-digits

(e) Declining-balance (use 20% as the annual rate)

Reference no: EM132982321

Questions Cloud

How would figure how companies can get and record funding : How would you figure how companies can get and record funding. There are three ways: from Liabilities, from issuing Stocks, or from Profitable Operations.
What is the loss on the notes receivable discounting : XYZ Company accepted from a customer, $1,000,000 face amount, 6 month, 8% note dated April 1, 2018. What is the loss on the notes receivable discounting
Which of the investment option will maximize utility : Which of the investment option will maximize his utility? Assume an investor with the following utility function: U = E(r) - 0.60(sa) E(r) = 12%; sb) E(r) = 10%
Calculate amount of rent incurred from september : Assuming adjustments are done each month calculate: Amount of rent incurred from 1 September to 31 December 2018 and After adjustments
Compute the depreciation charge : Metlock Corp. purchased machinery for $346,500 on May 1, 2020. From the information given, compute the depreciation charge for 2021
How much is the land total cost : On Dec. 31, 2021, how much is the land's total cost? n exchange for 200,000 shares of the company, a plant facility comprising of land and building was purchase
Determine the net income to be earned for each : Increase selling price by 6% with no change in units sold. Determine the net income to be earned for each of the given alternative course of action
How much should the corporation record as the cost of land : Twilight Corp. stock is not traded on a well-known/established stock exchange. How much should the corporation record as the cost of land?
Explain in detail what the humanities are : Explain in detail what the humanities are and how they influence culture?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd