Demonstrate how much is the depreciation expense

Assignment Help Accounting Basics
Reference no: EM132585316

Question 1: Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $21,000 for the truck. The truck is expected to have a $4,000 residual value and a 5-year life. Cambridge has a December 31 fiscal year end. Using the double-declining balance method, how much is the 2019 depreciation expense? (Enter only whole dollar values.) Hint: what is the year 2 depreciation amount?

Question 2: Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $25,000 for the truck. The truck is expected to have a $3,000 residual value and a 5-year life. Cambridge has a December 31 fiscal year end. Using the straight-line method, how much is the 2019 depreciation expense? (Enter only whole dollar values.)

Reference no: EM132585316

Questions Cloud

Leadership and leadership development : Explaining which type of leadership is essential for the long-range survival and growth of an entrepreneurial organization and why.
How to find the book value per share of common stock : Somerset Corporation had total stockholders' equity of $3,000,000. Determine the book value per share of Common Stock as of end of the FY 2018.
Enterprise risk management : Discuss what types of countermeasures need to be implemented to prevent the cyber attack described above from occurring in the future
Determine ending balance that bridgeport co should report : On January 1, 2017, Determine the ending balance that Bridgeport Co. should report as its investment in John Corp. at the end of 2018.
Demonstrate how much is the depreciation expense : Compute how much is the 2019 depreciation expense? (Enter only whole dollar values.) Hint: what is the year 2 depreciation amount?
Improve the firm cash conversion cycle : Which of the following methods can be used to improve the firm's cash conversion cycle?
Logistics and supply chain management issues : Identify major logistics and supply chain management issues associated with setting up a wholly owned subsidiary in Country X.
Compute the monthly payment on a 30-year level payment : Compute the monthly payment on a 30-year level payment mortgage assuming an annual mortgage rate of 5% and an initial mortgage principal of $400,000.
Demonstrate how much is the depreciation expense : Compute how much is the 2019 depreciation expense? (Enter only whole dollar values.) Hint: what is the year 2 depreciation amount?

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.

  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!

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