Find the annual depreciation for a van

Assignment Help Financial Accounting
Reference no: EM132601986

Question (a) Use the straight line method to find the annual depreciation for a van that costs $18,000, has an expected life of 3 years and has a salvage value of $3,000.

Question (b) The cost of a fishing boat is $150,000. The declining balance method is used for computing depreciation. If the depreciation rate is 15 percent, compute the book value and accumulated depreciation of the boat at the end of 5 years.

Question (c) A new equipment costing $10,000 is purchased. Using a declining balance rate of 12 percent, find the book value at the end of 5 years.

Question (d) Construct a depreciation schedule using the straight line method for a new truck that costs $80,000 and has a salvage value of $8,000 at the end of 6 years

Reference no: EM132601986

Questions Cloud

Prepare armstead journal entry : At the beginning of 2020, Prepare Armstead's 2020 journal entry with respect to the depreciation expense that was recorded in the years before 2020.
What unleveraged discount rate be used to value pulpless : The risk-free rate is 0.04% and the market risk premium is 0.05%. What unleveraged discount rate will be used to value pulpless
Which actions could affect a company amount : Which actions could affect a company's amount of discretionary expenditures? Delay a planned employee training program for the next period
Compare the quadrants of risk in this project : Compare the quadrants of risk in this project that would be identified in the enterprise-wide risk management process versus traditional risk management process
Find the annual depreciation for a van : Use the straight line method to find the annual depreciation for a van that costs $18,000, has an expected life of 3 years and has a salvage value of $3,000.
How long will you be able to stay in school : If graduate school costs $26,660 per year, approximately how long will you be able to stay in school based on these funds
Investigate different applications on application layer : Investigate different applications on application layer - Explore how to use VirtualBox on a USB stick to save and exchange files
Find the value of the investment after five years : Angus invested $2,000 in an account that offered interest rate 8 percent compounded quarterly. Find the value of this investment after 5 years.
What equal annual payments must be made to discharge loan : If your uncle borrows $58,000 from the bank at 12 percent interest over the ten-year life of the loan. What equal annual payments must be made to discharge loan

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find what amount deposit annually now to be able to make

What amount must she deposit annually now to be able to make the desired withdrawals at retirement? What amount does she have to deposit?

  What is the amount of bad debts expense reported

Net credit sales for the year amounted to? $250,000. What is the amount of Bad Debts Expense reported on the income statement for? 2019?

  Estimates taxes were paid by the larges

George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of %5,000 to cover his employee busines..

  Three 3 personal trainers at an upscale health spa resort

three 3 personal trainers at an upscale health spa resort in sedona arizona want to start a health club that

  Process of preparing its annual budget

Sarter Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Beginning Inventory Ending Inventory Finished goods (units) 22,000 72,000 Raw material (grams) 52,000 4..

  What is the idea behind mentoring and coaching

What is the idea behind mentoring, coaching, consulting and counselling in terms of method, focus and purpose? Explain their differences.

  Calculate the annual operating cash flows

Calculate the annual operating cash flows (they are identical each year). Calculate the relevant terminal cash flows at the end of year 3.

  Discuss issues arising from submission of the expense claim

Discuss the issues arising from the submission of the expense claim by Mr Roots and his threats to Ms Tshabalala if she were to refuse to authorise and pay the expense claim.

  What is expected return for a portfolio with an investment

Weighing the probabilities with returns or risk, help to indicate which asset will be creating the most influence in a mix of assets or a portfolio. Consider the following information: What is the expected return for a portfolio with an investment of..

  Prepare the original and the adjusting journal entries

The new note carried an 8 percent interest rate with similar payment terms. - Prepare the original and the adjusting journal entries at the end of 2010

  Analyze key accounting requirements for each of two choices

Select two out of the three choices provided in the above scenario, and analyze the key accounting requirements for each of the two choices that you selected.

  Provide a detailed table listing all long term assets

Provide a detailed table listing all long term assets, liabilities & contingencies found on the balance sheet for the four most recent years.

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