User Account

All Pages

Determine the residual value of the printing machine

Assignment Help Accounting Basics
Reference no: EM132276470

Question - Business X bought a machine at a price of 240000. The life of the machine is 20 years while the company intends to use it for 144 months. The productivity of the machine is measured according to the number of hours of operation. The total number of operating hours of the machine during its lifetime is 47,440 hours. The total number of operating hours of the machine during its entire lifetime is 23,000 hours. During the December 31, 2012, the machine was used for 700 hours, for December 31, 2013 the usage time was 800 hours, for December 31, 2023 the operating time was 1400 hours and for December 31, 2024 the usage time was 660 hours. The printing machine was used uniformly between 2014 and 2022. It has also been used consistently throughout each year for the duration of its use.

Determine the residual value of the printing machine knowing that the accumulated depreciation for 2020 and 2021 are respectively: $ 166,200 and $ 187,800.

Determine the hours of operation of the machine between 2014 and 2022.

Reference no: EM132276470

Questions Cloud

Compute the profit margin ratio : Compute the profit margin ratio. Quayle Company's assets at the beginning of the year were $770,000 and were $830,000 at the end of the year
Prepare journal entries to record the issuance : Prepare journal entries to record the issuance of (1) the 11% bonds and (2) the redemption of the 9% bonds
Factors that influence healthy aging and life expectancy : Discuss the factors that influence healthy aging and life expectancy. Assess the theories of aging and which one best aligns with your approach and associated.
Identify the characteristics of a good judge : Identify the characteristics of a good judge, a good prosecutor, and a good defense attorney. How do these characteristics contribute to an effective court.
Determine the residual value of the printing machine : Determine the residual value of the printing machine knowing that the accumulated depreciation for 2020 and 2021 are respectively: $ 166,200 and $ 187,800
Describe the types and costs of your purchases : Whether you realize it or not, you've been a consumer all your life. The types and costs of your purchases have changed over time, but you've learned from watch
How much is the gross profit margin : Given below are account balances for Charlie Company: Sales returns and allowances, $8,000. How much is the gross profit margin
Upon which theoretical framework or model would it be based : What do you think are the distal (ultimate) influences for the "reversal of fortunes" described in the article?
Compute the cost of the ending inventory : Whispering Winds Corp. had 100 units in beginning inventory at a total cost of $12,000. Compute the cost of the ending inventory and the cost of goods sold

Reviews

Write a Review

Accounting Basics Questions & Answers

  Earnings for federal unemployment tax

The company incurred no cost related to these earnings for federal unemployment tax but incurred $777 for state unemployment tax.

  Determine the dollar amount of overhead costs

Direct material used $317,000; factory utilities $122,000; and sales salaries expense $167,000. Determine the dollar amount of overhead costs

  Assume that production was 100000 units and sales were

boots r us produces a variety of products for the fashion industry cowboy type boots are among its most popular

  Make the journal entry necessary to record warranty expense

The company sold 600 tires during the year. Make the journal entry necessary to record warranty expense for the year.

  Problem regarding the consolidated goodwill

How much is consolidated goodwill. How does the answer to a. above differ if Adams paid $ 2 million

  Compute the end of the year outside adjusted tax

Moneymaker LLC was formed on January 1, 2015. John and Mary are equal partners in the partnership and each have a 50% Capital and Profits interest. Compute the end of the year outside adjusted tax basis for each partner

  Ifrs 1 requires disclosures that explain how the

ifrs 1 requires disclosures that explain how the transition from previous gaap to ifrs affected the entitys reported

  The bank account as a control device that helps to protect

the bank account as a control device that helps to protect cash. one of the requirements is to conduct periodic bank

  The following information is available for the first month

the following information is available for the first month of operations of korv inc. a manufacturer of art and craft

  Aaa lock manufacturing co makes and sells several models of

aaa lock manufacturing co. makes and sells several models of locks. the cost records for the zforce lock show that

  How she should treat the gain on the sale of the stock

During the year Johnson Co. repurchased 100 shares of its common stock and subsequently resold those shares at an amount that was $7.00 per share greater than the price paid for the shares. Tell the controller of Johnson Co. how she should trea..

  Why do we want to use comparative statements for financial

why do we want to use comparative statements for financial analysis rather than statements for a single date or period?

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