User Account

All Pages

Discuss what would the company record as depreciation

Assignment Help Accounting Basics
Reference no: EM131762320

Preston Corporation purchased a truck for $40,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $4,000 at the end of that time. During the second year, the truck was driven 27,500 miles. What would the company record as Depreciation for the second year under each of the following methods: (Show your work)

2. Production method:
a. $9,000.00
b. $9,900.00
c. $10,000.00
d. None of the above

3. Double-declining-balance method:
a. $9,000.00
b. $9,900.00
c. $10,000.00
d. None of the above

Reference no: EM131762320

Questions Cloud

Define the terms assumptions values and biases : Briefly define (using peer-reviewed literature) the terms assumptions, values, and biases as they relate to professional practice in human and social services.
Discuss what would the company record as depreciation : What would the company record as Depreciation for the second year under each of the following methods
Probability of choose a student from the school at random : One thousand students at a city high school were classified according to both GPA and whether or not they consistently skipped classes.
What was the ruling principal in weberns work : What was the ruling principal in Webern's work? What technique, originating in the Renaissance and Baroque, did Schoenberg use to unify his pieces?
Discuss what would the company record as depreciation : What would the company record as Depreciation for the second year under each of the following methods
Find a probability model for the difference in spots : Weird dice Nonstandard dice can produce interesting distributions of outcomes. Suppose you have two balanced, six-sided dice.
How would you solve a supply chain problem : Describe a problem and how you would solve that problem for question one 1. How would you solve a supply chain problem?
What amount would appear on the balance sheet : What amount would appear on the Balance Sheet, The bank collected for Rawlins Company
Find probability that the diamondbacks won the game : In 2012, fans at Arizona Diamondbacks home games would win 3 free tacos from Taco Bell if the Diamondbacks scored 6 or more runs. In the 2012 season.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discus the direct materials and labor costs per unit

Feist Co. expects to sell 200,000 units of its product in the next period with the following results.

  Acquisition across the controlling and noncontrolling

How did Truman allocate the goodwill from the acquisition across the controlling and noncontrolling interests?

  An outside supplier has offered to sell the company all of

fothergill company makes 40000 units per year of a part it uses in the products it manufactures. the unit product cost

  Determine amount at which white river company will report

Determine the amount at which White River Company will report a defined pension benefit asset on its December 31, Year 1 balance sheet.

  A lessee should classify a lease transaction as a capital

A lessee should classify a lease transaction as a capital lease if it is noncancelable and one or more of four classification criteria are met. Otherwise, it is an operating lease. What are these criteria?

  At december 31 2007 angie brandt corp has assets of

at december 31 2007 angie brandt corp. has assets of 10000000 liabilities of 6000000 common stock of 2000000

  Reconcile the recorded cash receipts on the prelisting with

the following are commonly performed tests of controls and substantive tests of transactions audit procedures in the

  Evaluate charlottes proposal do you support use of a

the city of medina park operates a plumbing and electrical maintenance department responsible for maintaining all water

  Lennon co recorded sales all credit of 870000 during the

lennon co. recorded sales all credit of 870000 during the current year. the ending balance in accounts receivable was

  Entries for sale of fixed asset equipment acquired on

entries for sale of fixed asset equipment acquired on january 5 2009 at a cost of 734520 has an estimated useful life

  Determine the impact on the appropriate stakeholders

Analyze the economic theory used to complete the policy solution and determine the impact on the appropriate stakeholders

  What is the maximum investment denver would willing to pay

Denver's desired rate of return is 10%. What is the maximum investment Denver would be willing to pay

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