User Account

All Pages

Compute the revised depreciation for both years

Assignment Help Accounting Basics
Reference no: EM131726425

Question - On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $67,000. The band estimates it will use this equipment for five years. It estimates that after five years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years. The salvage value remains unchanged.

Compute the revised depreciation for both the second and third years.

Book value at point of revision=

remaining depreciable cost=

depreciation per year for years 2 and 3=

Reference no: EM131726425

Questions Cloud

Discuss the role that drones play in the professional world : Discuss the role that drones, robots, virtual reality, and Artificial Intelligence (AI) play in the professional world. 300 words APA.
Maslow needs hierarchy and alderfer : You can address all four POLC functions as a manager, but if you cannot motivate people, you will probably not be successful.
Write a memo addressed to the company requesting services : Based on your scenario you will need to write a Memo addressed to the person/company requesting services. Computer build - high end of budget.
Unique talent of leader is their ability to understand : create and manage culture and that the unique talent of leader is their ability to understand and work with culture.
Compute the revised depreciation for both years : Compute the revised depreciation for both the second and third years: Book value at point of revision and remaining depreciable cost
Feel age discrimination is rampant : In many cultures, age is celebrated and older individuals are sought out for their wisdom. In contrast, in the United States, many feel age discrimination.
What role does religion play in the latino community and why : What role does religion play in the Latino/Hispanic community and Why
How will data mart be advantageous to the company : Assignment: Data Mart/Data Warehouse Access- What will Data Mart look like? How big will it be? How will it be advantageous to the company?
Aligning performance management with hr strategy : Thinking of a company that you are familiar with, which HR strategy (Bargain Laborer, Loyal Solider, Committed Expert, or Free Agent) is currently in place?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Traditional volume-based methods are easier to use and less

a. traditional volume-based methods are easier to use and less costly to implement and maintain. b. traditional

  What you learned about independence in the accounting

Submit a 100-150 word summary of what you learned about "independence" in the accounting profession

  Heritage insurance co is a regional insurance company that

heritage insurance co. is a regional insurance company that began operations on january 1 2012. the following

  Compute the amount that diaz company

Shipping, FOB Shipping Point, $240, prepaid by seller, Compute the amount that Diaz Company has to pay to the seller for the goods

  Disadvantages of harmonizing accounting standards

What are some of the advantages and disadvantages of harmonizing accounting standards? Does the organization you work for use GAAP and IFRS or just GAAP?

  Grey companys work in process inventory account has a

grey companys work in process inventory account has a beginning balance of 40000 and an ending balance of 50000.

  In whose inventory should the merchandise be included

A manufacturer shipped merchandise to a retailer on a consignment basis. If the merchandise is unsold at the end of the period, in whose inventory should the merchandise be included?

  Calculate pretax and after-tax hpr of the bond investment

Calculate the pretax and after-tax HPR of the bond investment for each year. (Assume that Theodora bought and sold the bond at the beginning.

  Murphy company produces flash drives for computers which it

murphy company produces flash drives for computers which it sells for 20 each. each flash drive costs 8 of variable

  Net cash from financing activities

The first month of operation showed the net cash from operating activities to be $3,760, the net cash from investing activities to be ($5,415), and the ending cash balance to be $3,425. The net cash from financing activities must be:

  What are the beginning and desired ending finished goods

What are the beginning and desired ending finished goods units, respectively? Beginning Units Ending Units

  Determining expected cost savings

Spotech Co.'s budgeted sales and budgeted cost of sales for the coming year are $212,000,000 and $132,500,000, respectively. Short-term interest rates are expected to average 5%. If Spotech could increase inventory turnover from its current 8.0 ti..

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