User Account

All Pages

Find the amount of annual depreciation

Assignment Help Financial Accounting
Reference no: EM13491763

A storage tank acquired at the beginning of the fiscal year at a cost of $86,000 has an estimated residual value of $10,000 and an estimated useful life of eight years. Determine the following: (A) the amount of annual depreciation by the straight-line method and (B) the amount of depreciation for the first and second year computed by the double-declining-balance method.

Reference no: EM13491763

Questions Cloud

Explain the reaction n2o4 : Find the temperature at which Kp = 4.00 for the reaction N2O4(g) 2NO2(g). [Given: at 25°C, for NO2(g), ?H°f = 33.85 kJ/mol, S° = 240.46 J/mol·K; for N2O4(g), ?H°f = 9.66 kJ/mol, S° = 304.3 J/mol·K; assume that ?H° and ?S° are independent of temp..
How much time is required for the bullet to reach the target : A bullet is fired horizontally with an initial velocity of 900 m/s at a target located 150 m from the rifle. How much time is required for the bullet to reach the target
What was the annual amount of depreciation : Equipment acquired on January 3, 2005, at a cost of $147,500, has an estimated useful life of eight years and an estimated residual value of $ 17,500.
How to balance the oxygens and hydrogens in the reaction : What volume of a 0.1 M ClO- solution reacts stoichiometrically with a 10 mL solution of 0.2 M CrO2-? Use the reaction 2 CrO2- + 3 ClO- --> 2 CrO4-2 + 3 Cl- to assist in the calculation. You do not have to balance the oxygens and hydrogens in the r..
Find the amount of annual depreciation : A storage tank acquired at the beginning of the fiscal year at a cost of $86,000 has an estimated residual value of $10,000 and an estimated useful life of eight years.
Find the maximum height reached by the projectile : A projectile is fired with an initial speed of 65.2 m at an angle of 34.5? above the horizontal on a long flat firing range. find The maximum height reached by the projectile
Journalize the entry to record depreciation for the year : Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiary accounts for the mile operated during the current year.
What role has martha stewarts image played : What role has Martha Stewarts image played in the insider trading scandal - will Martha Stewart Living Omnimedia survive if Martha Stewart were to leave the company? In order to survive, what changes will need to be made at the company?
Determine the depreciation rates per mile : Assuming that the equipment had been sold on January 2, 2008, for $100,000 instead of $95,000, journalize the entry to record the sale.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Illustrate what is the corporation tax basis in property

The corporation assumed a liability of $50 on the property transferred. Illustrate what is the corporation's tax basis in the property received in the exchange?

  It is the end of a reporting period because there are more

it is the end of a reporting period. because there are more people than usual retiring this year your manager has asked

  Question bennett corporation is authorized to issue 1000000

question bennett corporation is authorized to issue 1000000 shares of 1 par value general stock in 2012. starting in

  Compute the gain recognized by smeder company relating

All net income effects of the intra-entity transfer are attributed to the seller for consolidation purposes. Compute the gain recognized by Smeder Company relating to the equipment for 2010.

  What particular year depreciation amount for this asset will

This schedule shows that $60,000 will be depreciated for a particular calendar year. Instructions Show calculations to determine for what particular year depreciation amount for this asset will be $60,000.

  Calculate the net income or loss for 2011

An analysis of Goulding, Inc., disclosed changes in account balances for 2011 and the following supplementary data. From these data, calculate the net income or loss for 2011.

  Describe alternatives that you as an accountant would have

show them as current expenses in total. In this way, the new product would appear to be only slightly profitable. Describe alternatives that you as an accountant would have in this situation. Indicate which alternative is best

  Illustrate what is the best estimate of current stock price

The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 8.0% forever. The firm's required return (rs) is 12.0%. Illustrate what is the best estimate of the current stock pric..

  What is sam gross profit for march

During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?

  Assignment 1 demonstrate an understanding of basic

assignment 1. demonstrate an understanding of basic accounting concepts and how these apply apply to business2. outline

  How much will be required in five years to repay

How much can be lent now if $12,000 will be repaid at the end of four years? (b) How much will be required in five years to repay a $30,000 loan received now?

  Prepare the year-end entries for any amounts

Prepare the year-end entries for any amounts that could be recorded as a result of each of the above contingencies.

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