User Account

All Pages

Compute the depreciation for the years indicated

Assignment Help Accounting Basics
Reference no: EM132964091

Question - Reveille, Inc., purchased Machine #204 on April 2021, and placed the machine into production on April 3, 2021. The following information is relevant to Machine #204: Price P60,000 Freight-in costs 2,500 Preparation and installation costs 3,900 Labor costs during regular production operation 10,200 Credit terms 2/10, n/30 Total productive output 138,500 units The company expects that the machine could be used for 10 years, after which the salvage value would be zero. However, Reveille, Inc., intends to use the machine only eight years, after which it expects to be able to sell it for P9,800. The invoice for Machine #204 was paid April 10, 2021. The number of units produced in 2021 and 2022 were 23,200 and 29,000, respectively. Reveille computes depreciation to the nearest whole month.

Required - Compute the depreciation for the years indicated, using the following methods (round your answer to the nearest peso):

1. 2021: Units of productions

2. 2022: Sum-of-the-years'- digits method

Reference no: EM132964091

Questions Cloud

How much will the original bondholders receive : If Miller is forced to liquidate its property for $20 million, and the company has no other assets, how much will the original bondholders receive?
How much interest will the investor receive on july of year : How much interest will the investor receive on July 1 of this year? Miller Mining has $30 million in land value and $15 in mortgage bonds issued on the property
What is the internal rate of return of your? investment : Suppose you purchase a? 30-year, zero-coupon bond with a yield to maturity of 9%. What is the internal rate of return of your? investment
What dollar amount will the investor pay to the seller today : What dollar amount will the investor pay to the seller today? Miller Mining has $30 million in land value and $15 in mortgage bonds issued on the property.
Compute the depreciation for the years indicated : The number of units produced in 2021 and 2022 were 23,200 and 29,000, respectively. Compute the depreciation for the years indicated
Determine the annual net cash flows of the investment : Determine the annual net cash flows of this investment. IBX Pty Ltd is considering the purchase of a new machine that is expected to save the company $63,000
What you think the project to implement described : What you think the project to implement described above be an objective driven or a product driven
How to make a selection of applications : An example of how to make a selection of applications, interviews, or tests more reliable?
What is a marketing and reservation system : Why are depreciation and amortization expensed added back to net income to compute Operating Cash flow? What is a Marketing and reservation system?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Should rt manufacturing replace the old machine

Robinson Computers makes 5,700 units of a circuit board, CB76, at a cost of $230 each. Variable cost per unit is $180 and fixed cost per unit is $50.

  Problem - Personal Investment Analysis

Problem - Personal Investment Analysis - What is the net advantage or disadvantage of pursuing a graduate degree under these assumptions

  Kevin exchanges an office building used in business for one

kevin exchanges an office building used in business for one owned by charlene. the fmv of kevins building is 28000

  Compute each companys price-earnings ratio

Compute each company's price-earnings (P / E) ratio and price-to-sales ratio (PSR). Identify primary estimates or assumptions that could result in overstated earnings, and use the ratio data to compare the quality of each company's earnings.

  What was the total predetermined overhead rate

CLAW Corporation is a manufacturer of industrial equipment, located in Toronto, Ontario. What was the total predetermined overhead rate

  Factory overhead applied to all four jobs

Factory Overhead applied to all four jobs

  A 300 ml aliquot of a manganese solution 125 mgml of

a 30.0 ml aliquot of a manganese solution 12.5 mgml of manganese fw59.94 was added to a 100. ml volumetric flask and

  Prepare the Statement of Cash Flows for Cardi Company

Common Stock exchanged for outstanding Long-Term Notes Payable of $150,000. Prepare the Statement of Cash Flows for Cardi Company

  Justifying expenditures for new technologies

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

  Explain what is a hedging arrangement

Explain what is a hedging arrangement and how does it reduce foreign currency risk exposure?

  List the features of organizations

List the features of organizations that would find ABC particularly useful for product costing. Briefly explain the reasons why ABC is particularly suitable.

  Project management accounting

BBAC501-Project Management Accounting:   Review the performance of ValleyviewPlaygyms in 2012 and make a recommendation as to whether Johnson's overdraft facility should be cancelled.  Prepare a report for Johnson explaining the errors s he made in..

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