Determine the cost of the machine

Assignment Help Financial Accounting

Reference no: EM13137221

The following data relate to the Plant Asset account of Planter Co., at December 31, 1999.

Plant Asset
A B C D
Original cost ? $240,000 $25,000,000 $60,000
Year purchased Jan 1, 1992 Jan 1. 1998 ? Jan 1, 1994
Useful life 20 years ? 30 years 10 years
Salvage Value $10,000 $30,000 $2,000,000 $4,000
Depreciation Method Straight Line Sum-of-Years Straight line 150% declining balance
Accumulated Depr ? $126,000* ? ?
Book value $196,000 ? $20,783,333 ?

* For Asset B the depreciation was $70,000 in 1998 and $56,000 in 1999.

a) On December 31, 1999, after all adjusting journal entries are complete, Asset A has a book value of $196,000 as given above. Determine the cost of the machine.

Reference no: EM13137221

Questions Cloud

Prepare journal entries to record the transactions : Prepare journal entries to record the transactions. Prepare the current liabilities section of the balance sheet as it would appear at the end of the year.

Determine a confidence interval for mean efficiency : Determine a 95% confidence interval for the mean efficiency of a given batch of motors. If we want to cut the confidence interval by 1/3, how many motors should be tested?

Explain the concept of regression analysis : Explain the concept of "Regression Analysis", its types (3 types at least), applications and usefulness. Provide real application of its usage.

Word story telling about the best or worst school/learning : Write a 650-750 word story telling about the best or worst school/learning experience you ever had.

Determine the cost of the machine : On December 31, 1999, after all adjusting journal entries are complete, Asset A has a book value of $196,000 as given above. Determine the cost of the machine.

Revenue from a hospital : Your hospital has the following revenue for the months of July-September: July $2,000,000 August $3,000,000 September $4,000,000. If 30% of the month's revenue is collected in the same month, 40% is collected in the second month and 30% is collect..

How much does store expect to collect : Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at October 31. How much does the store expect to collect?

What would be amount in us dollars : If the spot rate in three months was expected to be ¥110/$, what would be the amount in US dollars, covered and uncovered?

The nursing profession : • How did the happenings of the nursing profession impact the origin of this theory? • What values, evidence, or existing knowledge did the theorist cite to support the theory? • What was the theorist's motivation behind writing the theory?

User Account

All Pages