User Account

All Pages

Compute the depreciation expense under the following methods

Assignment Help Financial Accounting
Reference no: EM132316808

Question

Waterway Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $141,480. The company estimated that the machine would have a salvage value of $15,480 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 21,900 hours. Year-end is December 31.

Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. 

(a) Straight-line depreciation for 2017 $ 10,500 

(b) Activity method for 2017, assuming that machine usage was 850 hours 4,888

(c) Sum-of-the-years'-digits for 2018 38,500

(d) Double-declining-balance for 2018

Reference no: EM132316808

Questions Cloud

Calculate the firm profit : Market Demand is given as Qd=75-P.Market supply is given as Qs=3P+15.Each identical firm has MC=3Q and ATC=1.5Q. Calculate the firm's profit.
Current value dropping below its original purchase price : Why, however, is it illogical to dismiss the possibility of a home's current value dropping below its original purchase price?
Find the optimal contract length : Suppose the marginal benefit of writing a contract is $50, independent of its length. Find the optimal contract length when the marginal cost of writing
What would likely happen to the unemployment rate : Explain what would likely happen to the unemployment rate if the definition of being employed part-time was changed to require someone
Compute the depreciation expense under the following methods : Waterway Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $141,480.
Create the social media strategic plan : Use the information from your outline to create your Social Media Strategic Plan. Apply any recommendations and updates based on faculty feedback.
Continue the process of raising interest rates : If the FED decides to continue the process of raising interest rates, what is the likely response of firms and households to the increased cost of borrowing?
Interesting property from the visualisation : 301112 - Visualisation - Western Sydney University - Multidimensional Data Visualisation - identify and develop one (or more) visualisation(s)
What is the upper control limit for this c chart : Trinity Hospital in the Philippines has been experiencing an increase in the errors related to the medication administered to patients.

Reviews

Write a Review

Financial Accounting Questions & Answers

  How would you incorporate the above valuation results

Based on this limited information and your own knowledge, how would you incorporate the above valuation results in your conclusion? Why? Prepare a one-page response for your answer.

  Find our the major issues currently on the agenda

Determine and report to the class on the latest issues being discussed by the IASB and the FASB in their joint project of revising the conceptual framework.

  What are average and marginal tax rates for single taxpayer

What are the average and marginal tax rates for a single taxpayer with a taxable income of $70,000? What are the average and marginal tax rates for married taxpayers filing joint returns if their joint taxable income is also $70,000?

  Illustrate what is the total recorded cost of the automatic

During the installation, a component of the equipment is carelessly left on a lane and hit by the automatic lane-cleaning machine. The cost of repairing the component is $2,250. Illustrate what is the total recorded cost of the automatic score keep..

  Evaluate the break-even point for a multiproduct company

Evaluate the Break-Even Point for a Multiproduct Company and Compute the overall break-even point for the company in sales dollars

  Calculation of revenue from each activity gross profit

calculation of revenue from each activity gross profit income statement.a recent income statement for harley-davidson

  Compute net income under different alternatives

Compute net income under different alternatives. Compute the number of units that would have to be sold in 2017 to reach the stockholders' desired profit level.

  How are implicit taxes related to deprecation

How are implicit taxes related to deprecation? To lease or not to lease is in the right clientele? Should a low tax firm have long term debt?

  Compute the anticipated break-even sales

For the current year March 31, Benatar Company expects fixed cost of $1,250,000, a unit variable cost of $140 and a unit selling price of $100. Compute the anticipated break-even sales (units). Compute the sales (units) required to realize income fro..

  Used to allocate variable costs from service departments

Which of the following formulas should be used to allocate variable costs from service departments to user departments? The phrase "cost allocation" refers to the allocation of total department costs to, If a department identifies more than one cost ..

  After tax net loss reported by maine

The after tax net loss reported by Maine on its year end 31st December, 2012 income statement

  Discuss the challenges of first time adoption of ifrs

Discuss the challenges of first time adoption of IFRS. Based on your research what do you see as the impact on financial reporting in the future? Should we harmonize or converge? Use the FASB Codification and the IFRS standards to support your positi..

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