User Account

All Pages

Find the accumulated depreciation for this machine

Assignment Help Accounting Basics
Reference no: EM132723770

Question - On January 1, 2019, Cullumber Co. purchased a machine for $2412000 and depreciated it by the straight-line method using an estimated useful life of 8 years with no salvage value. On January 1, 2022, Cullumber determined that the machine had a useful life of 6 years from the date of acquisition and will have a salvage value of $192000. An accounting change was made in 2022 to reflect these additional data. Find the accumulated depreciation for this machine should have a balance at December 31, 2022?

a. $1407000.

b. $1480000.

c. $1608000.

d. $1343000.

Reference no: EM132723770

Questions Cloud

What is the total of all assets at the end of january : What is the Total of all Assets at the end of January as reported in the Balance Sheet? Use accrual accounting. Use accrual accounting.
Find the revised amortization expense staring January : On January 2? 2017, Motors Inc. purchased an engine with a cost of $55,000. Find the revised amortization expense staring January
Compute how much is net income reported in income statement : Lady Leaf and her "Tea experience" business, How much is the Net Income reported in the Income Statement for the month of January? Use accrual accounting.
How much did Cullumber pay for its interest in Ace : Paid cash dividends on common stock totaling $340000 during 2021. How much did Cullumber pay for its 20% interest in Ace
Find the accumulated depreciation for this machine : An accounting change was made in 2022 to reflect these additional data. Find the accumulated depreciation for this machine should have
What is the balance of the account tea equipment : What is the balance of the account Tea Equipment as reported in the Balance Sheet Statement at the end of January 31 (after AJE)?
How people seek consistency among attitudes : Describe a workplace example of how people seek consistency among their attitudes and their behavior by reducing cognitive dissonance.
What is total of non current liabilities at the end of jan : Tea experience, What is the Total of Non Current Liabilities at the end of January as reported in the Balance Sheet? Use accrual accounting.
Is aws related to amazon core business : Is AWS related to Amazon's core business? Why or why not? Some investors are pressuring Jeff Bezos to spin out AWS as a standalone company.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Automaker offering middle-line priced automobiles

Subaru America is a mainstream automaker offering middle-line priced automobiles. It offers great value for consumers. The company experienced phenomenal success in the 1980s but had to redesign itself slightly with the introduction of the Subaru ..

  Lansbury company purchases equipment on january

Compute the amount of depreciation for each of Years 1 through 3 using the double-declining balance method. (In performing your calculations, round constant percentage to the nearest one hundredth of a point and round answers to the nearest dollar)

  Prepare all journal entries

Prepare all journal entries from 12-31-03 to 12-31-05 for both parties (debtor and creditor), and explain the interest rate assumed by the debtor

  Laci inc is considering two alternatives to finance its

laci inc. is considering two alternatives to finance its construction of a new 2.00 million plant. a issuance of 200000

  How can lean thinking be applied to accounting processes

Discuss how lean thinking can lead to a reduction of costs (material, labor, overhead), other than inventory. Be specific.

  During the second quarter of operations

During the second quarter of operations, JT again manufactured 30,000 units but sold 35,000 units. Prepare income statements for the second quarter using both variable-and absorption- costing methods.

  How is income allocated to s corporation shareholders

S Corp - Income Allocation. How is income allocated to S corporation shareholders? Please provide at least 200 words with References.

  Calculate the amount paid for goodwill

The fair values of all of Smith's assets and liabilities were equal to their book values with the following exceptions:

  Compute the applied overhead for levitt for the year

Jay Levitt Company produces one product, a putter called GO-Putter. Compute the applied overhead for Levitt for the year

  How should heather record and measure such a liability

The Heather Company's fiscal year ends on June 30. How should Heather record and measure such a liability as of June 30th

  Prepare the journal entry to record the issuance

Prepare the journal entry to record the issuance.

  Describe six indicators of fraudulent activities

Describe six (6) indicators of fraudulent activities that have been highlighted in the issues raised by Amy

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