User Account

All Pages

How calculate the book value of machine c at december

Assignment Help Financial Accounting
Reference no: EM132594981

On January 1, 2019, HBW, Inc. purchased three machines for $420,000. The following information is available concerning the machines that were purchased:

                            Market Value
Machine A ................ $110,000
Machine B ................ $198,000
Machine C ................ $132,000

Before the property could be used, HBW, Inc. had to spend $10,000 on Machine A, $14,000 on Machine B, and $18,000 on Machine C to get the assets into working order.

Assume Machine C was assigned a $5,000 residual value, a twenty year life, and was being depreciated using the double-declining balance depreciation method.

Question 1: Calculate the book value of Machine C at December 31, 2021.

Reference no: EM132594981

Questions Cloud

Calculate the amount of the gain recorded on the sale : Calculate the amount of the gain recorded on the sale of the Tin Company stock. Do not put a minus sign in front of your answer when entering
How do recessions impact firms in general : How do recessions impact firms in general (consider how consumers are impacted and how this may translate to sales/revenue impacts on firms)?
The robertson vs. princeton case highlights : The Robertson vs. Princeton case highlights the problems that arise when nonprofit organizations neglect to honor donor intent.
Calculate the balance in investment in tin company account : On January 1, 2019, Calculate the balance in the investment in Tin Company account reported on QZP Company's December 31, 2020 balance sheet.
How calculate the book value of machine c at december : Calculate the book value of Machine C at December 31, 2021.Before the property could be used, HBW, Inc. had to spend $10,000 on Machine A, $14,000
Calculate the total dividends paid by tin company : Calculate the total dividends (dividends paid to all its stockholders) paid by Tin Company in 2019.On January 1, 2019, QZP Company purchased 44%
Solve the amount of the loss recorded on the sale of machine : Solve the amount of the loss recorded on the sale of Machine B. Do not put a minus sign in front of your answer when entering it into carmen.
Veterans health administration philosophy : How does the Veterans Health Administration's philosophy of care differ from private health care in regards to rationing health care,
What is the role of the counselor in the change process : What are two current presenting problems for the Vargas family? What is the role of the counselor in the change process according to the structural family.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the loss on redemption of bonds at june

Determine the loss on redemption of bonds at June 30, Year 17. At December 31, Year 16, the 12% bonds payable of Bob the Bond had a carrying value of $312,000.

  Compute unit conversion cost on cost of production report

Department W had 2,400 units, one-third completed at the beginning of the period; 16,000 units were transferred to Department X from Department W during the period; and 1,800 units were one-half completed at the end of the period. Assume the completi..

  Firm a has 10000 in assets entirely financed with equity

firm a has 10000 in assets entirely financed with equity. firm b also has 10000 in assets but these assets are financed

  Determine total cost allocation

Determine the total cost allocation and departmental overhead rate for the producing departments using the direct method. Show your work.

  Increasing instances of cyber-crime

Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, such as: External parties infiltrating corporate IT s..

  Using the break-even point in sales equation

Head-First Company plans to sell 4,700 bicycle helmets at $75 each in the coming year. Variable cost is 64% of the sales price; contribution margin is 36% of the sales price. Total fixed cost equals $45,090. Calculate the sales revenue that Head-Firs..

  Estimate of production and materials requirements

Tube-Magic Company makes a line of specialized plastic tubing items. During each of the next two years, it expects to sell 325,000 units. The beginning finished-goods inventory is 80,000 units. However, the target ending finished-goods inventory for ..

  Problem regarding compound interest tables

How much will be accumulated on January 1, 2018 if $450,000 is deposited on January 1, 2014, and interest is compounded annually at 10%?

  Financial planning and resource allocation decisions

Describe and analyse the role of accounting information in a business context and analyse a set of financial statements including balance sheet, profit and loss accounts and cash flow statements.

  Which option will maximize the familys after-tax wealth

Roy decides to buy a personal residence, and he goes to the bank for a $150,000 loan. The bank tells Roy that he can borrow the funds at 4% if his father will guarantee the debt. Roy’s father, Hal, owns a $150,000 CD currently yielding 3.5%. The inte..

  The companys non-value-added cost would be

During a recent accounting period, Marty's shipping department processed 26 orders. Each order typically takes four hours to complete. However, the average time increased to five hours because of various departmental inefficiencies. If shipping labor..

  Biggest factors in implementing sox

Committing a fraud because the employee feels "I deserve a pay raise. The company owes this to me is indicative of which part of the fraud triangle?

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