Depreciation expense to be recorded for machinery

Reference no: EM13130309

On January 1, 2005, Foley Corporation acquired machinery at a cost of $250,000. Foley adopted the double-declining balance method of depreciation for this machinery and had been recording depreciation over an estimated useful life of ten years, with no residual value. At the beginning of 2008, a decision was made to change to the straight-line method of depreciation for the machinery. The depreciation expense to be recorded for the machinery in 2008 is (round to the nearest dollar)

a. $25,600.

b. $18,286.

c. $22,857.

d. $25,000.

Reference no: EM13130309

Questions Cloud

To penhurst : In "To Penhurst," Jonson represents what appears to be an ideal community. What is included in it that is ideal, and what has Jonson omitted in order to create it?

How long would it take for water to convert in steam : How long would it take for 1.50 mol of water at 100.0 0C to be converted completely into steam if heat were added at a constant rate of 15.0 J/s?

Percentage increase of price : The price of a notebook was$3.10 yesterday. Today, the price rose to $3.60 . Find the percentage increase. Round your answer to the nearest tenth of a percent.

Eliminate the consolidation process : Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit that should be eliminated in the consolidation process at the end of 2011 is

Depreciation expense to be recorded for machinery : At the beginning of 2008, a decision was made to change to the straight-line method of depreciation for the machinery. The depreciation expense to be recorded for the machinery in 2008 is (round to the nearest dollar)

Find the probability that student passes on first try : What is the probability that Susan passes on the first try? What is the probability that Susan first passes on the second try?

Misleading use of percentages : A New York Times editorial criticized a chart caption that described a dental rinse as one that "reduces plaque on teeth by over 300%." What is wrong with that statement?

Draw the structure of hydrocarbon : A large number of polycyclic benzenoid aromatic hydrocarbons are known. One of these, benz/a/pyrene, is a powerful carcinogen found in tobacco smoke. Draw the structure of this hydrocarbon. Can you suggest other sources where this material might b..

Compute the unit sales to earn the target after-tax : Assume that fixed costs remain at $630,000. Compute the unit sales to earn the target after-tax net income and (2) dollar sales to earn the target after-tax net income.

User Account

All Pages