User Account

All Pages

Determine depreciation for first year of truck useful life

Assignment Help Accounting Basics
Reference no: EM132623634

Problem 1: Finx, Inc., purchased a truck for $35,000. The truck is expected to be driven 15,000 miles per year over a five-year period and then sold for approximately $5,000. Determine depreciation for the first year of the truck's useful life by the straight-line.

Problem 2: Alexander Company purchased a piece of equipment for $12,000 and depreciated it for three years over a five-year estimated life with an expected residual value at the end of five years of $2,000. At the end of the third year, Alex decided to upgrade to equipment with increased capacity and sold the original piece of equipment for $7,200. Calculate the gain or loss on the disposal at the end of the third year.

Reference no: EM132623634

Questions Cloud

Develop pre-boarding checklist and onboarding plan : Develop a pre-boarding checklist and an onboarding plan covering an employee's first 30, 90, and 180 days with performance metrics.
Influences of financial markets on corporate governance : What are some of the influences of financial markets on corporate governance.
How do calculate the gain or loss on the sale at the end : End of the second year, at which time the asset was sold for $8,500. Calculate the gain or loss on the sale at the end of the second year.
Indifferent between the risky portfolio : Which value of the risk aversion coefficient makes this investor indifferent between the risky portfolio and the risk-free asset?
Determine depreciation for first year of truck useful life : Finx, Inc., purchased a truck for $35,000. Determine depreciation for the first year of the truck's useful life by the straight-line.
Standard deviation of the portfolio : If a portfolio had a return of 18%, the risk-free asset return was 5%, and the standard deviation of the portfolio's excess returns was
Record the events in a horizontal statements model : Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity
Complete a roster and calculate timesheets : What penalty rate would a part-time employee receive on a public holiday and What is the difference between a penalty and an allowance
What is holding-period return : You purchased a share of stock for $12. One year later, you received $0.25 as a dividend and sold the share for $12.92.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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