Find out the rate of depreciation under straight line method

Assignment Help Accounting Basics
Reference no: EM133178005

Question - A company purchased a plant for Rs. 50,000. The useful life of the plant is 10 years and residual price is Rs. 10,000. Find out the rate of depreciation under straight line method.

Reference no: EM133178005

Questions Cloud

Explain asset misappropriation fraud schemes : Explain asset misappropriation fraud schemes, cash receipts schemes and cash disbursement schemes in terms of the three prongs of the fraud triangle
How much does he need to put aside each month : He believes that an annual interest rate of 5% is a reasonable estimate. How much does he need to put aside each month
Calculate the solvency and liquidity ratios : Calculate the solvency and liquidity ratios of Tourism Phambili Group for 2020. Has the impact of Covid-19 impacted the ability of the company
How much is the current operating income of the company : Yang Inc. produces only one product, berry baskets, which it sells for P72 each. How much is the current operating income of the company
Find out the rate of depreciation under straight line method : A company purchased a plant for Rs. 50,000. The useful life of the plant is 10 years and residual price is Rs. 10,000. Find out the rate of depreciation
Prepare journal entries to record above transactions : On October 29, Lobo Company began operations by purchasing razors for resale. Prepare journal entries to record above transactions and adjustments
What would you expect the nominal rate of interest : Question - What would you expect the nominal rate of interest to be if the real rate is 4.4 percent and the expected inflation rate is 6.7 percent
Do company cash budget for the upcoming fiscal year : The company's beginning cash balance for the upcoming fiscal year will be $22,000. Do company's cash budget for the upcoming fiscal year
Prepare all necessary journal entries : On January 30, 2020, the spot rate was $.4826. Prepare all necessary journal entries in regard to the forward contract

Reviews

Write a Review

Accounting Basics Questions & Answers

  What does the cost principle mean for a company''s income

What does the cost principle mean for a company's income statement?

  What is the total cost of this merchandise

Transportation costs were an additional $200. Our company returned $300 worth of merchandise. What is the total cost of this merchandise

  What is the amount of Deb gross income

Deb's empioyer originally purchased the watch at the beginning of 2020 for $3,750. What is the amount of Deb gross income

  Discuss how much gain is recognized by parent as a result

How much gain is recognized by Parent as a result of the liquidation

  Determine the amount of their losses

Baker,Marshall, and Perryman share profits and losses equally and begin their business with investments of $20,000, $15,000, and $8,000, respectively.

  What is Bob investment expense deduction

Bob's income for the year consists of $74,800 of salary, $3,100 long-term capital gain, What is Bob investment expense deduction

  Designing and implementing a financial information system

Designing and implementing a financial information system for a private company.

  Problem on cash payments to suppliers

Dee's inventory and accounts payable balances at December 31, 2011, increased over their December 31, 2010, balances. Should these increases be added to or deducted from cash payments to suppliers to arrive at 2011 cost of goods sold?

  Managerial accounting from a provider perspective

You have been immersed in the world of managerial accounting (i.e., cost accounting) for seven (7) weeks. What is your assessment of cost/managerial accounting from a provider perspective?

  Explain why believe privacy is protected

If you value your own privacy, explain why you do. If you feel you have nothing to hide, explain why you believe your privacy is protected.

  What margin will it earn this year

If the company pursues the investment opportunity and otherwise performs the same as last year, what margin will it earn this year

  Calculates the depreciation of the tow truck

Prepare a spreadsheet that calculates the depreciation of the tow truck over the 5 years using the following three depreciation methods: Straight Line

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd