User Account

All Pages

How much did the change in depreciation estimates increase

Assignment Help Financial Accounting
Reference no: EM132503305

On January 1, 2016, Fábricas de Jalisco (FAJ) bought an electric generator from Cummins for 4.1 million pesos and immediately put it into service. At that time, the company estimated that the generator's useful life and salvage value would be 12 years and 260 thousand pesos, respectively. On January 1, 2019, the company reassessed its depreciation estimates for generator, increasing the useful life by three years and reducing the salvage value to 200 thousand pesos.

Question 1: By how much did this change in depreciation estimates increase or decrease annual depreciation for the generator? Round your answer to the nearest thousand pesos.

Reference no: EM132503305

Questions Cloud

Describe the behaviors of a group of interacting people : Culture is the set of the learned and shared values, beliefs, and behaviors of a group of interacting people. Culture may be examined from both an objective.
What effect did the change in estimate referred : What effect did the change in estimate referred to above have on 2018 depreciation expense as reported the 2019 annual report.
Draw a budget line for your purchase of new vehicles : ATVs cost $8000 each and snowmobiles cost $12,000 each. Draw a budget line for your purchase of new vehicles? What is the opportunity cost of one ATV
Value of a country currency : Assume that the value of a country's currency is 1 when the price level is 1.8. If the price level changes to 1.6, the value of the country's currency will chan
How much did the change in depreciation estimates increase : How much did the change in depreciation estimates increase or decrease annual depreciation for the generator? Round your answer to the nearest thousand pesos.
Describe criminal justice issue in the area of police : You will write a minimum 8-page research-based paper in current APA format that focuses on a recent, relevant criminal justice issue in the area of police.
Calculate the april inventory and the april cost of goods : Calculate the April 30 inventory and the April cost of goods sold using the weighted average cost formula. (Round the weighted average cost per unit)
Develop your own opinion on the subject topic : Develop your own opinion on the subject topic from what you have learned about the subject. Include your own views you support and/or views you don't agree on.
Create reflections that apply the Emotional Intelligence : Create reflections that apply the Emotional Intelligence - Reflection One will be conducted in Week 6, and will be based on the Industry Guest Speaker

Reviews

Write a Review

Financial Accounting Questions & Answers

  What are paiges taxable income and tax liability

Paige, age 17 is claimed as a dependent on her parents 2014 return on which they report taxable income of 120000 ( no qualified dividends or capital gains). paige earned $3,900 pet sitting and $4000 in interest on a savings account. What are paige's ..

  Discuss depreciation as a tool for managing utility of asset

Discuss depreciation as a tool for managing and evaluating the life and utility of assets of the firm. What are the methods and under what conditions would each method be used and applied?

  The amount of recognized gain on the sale of the residence

At the begining of 2015, Donna Harp was employed as a cinematographer by Farah Movie, Inc., a motion pircture company in Los Angeles, California. In June, she assepted a new job with Ocala Production in Orlando, Florida. Determine the amount of recog..

  Hank was transferred from phoenix to north dakota on march

hank was transferred from phoenix to north dakota on march 1 of the current year. he immediately put his home in

  Companys break-even point in sales to increase

Which of the following changes would cause a company's break-even point in sales to increase? A bank believes it has sufficient controls to ensure good reporting, except that an executive is able to deliberately misrepresent records to a bank regulat..

  What are the major uses of the gross profit method

What are the major uses of the gross profit method? Distinguish between gross profit as a percentage of cost and gross profit as a percentage of sales prices.

  What is the implied personal tax rate on debt income

Miller model is $126,667. If the effective personal tax rate on stock income is T S = 20%, what is the implied personal tax rate on debt income?

  Describe the nature and purpose of the taxes

Describe the nature and purpose of the following taxes:

  When does the holding period start for that equipment

Debbie owns office equipment with a basis of $300,000 and a holding period starting on May 10, 2004. Debbie exchanges the equipment for other office equipment owned by Doug on July 23, 2015. Doug’s equipment has an FMV of $500,000. Both Debbie and Do..

  What conclusions concerning the management

analysis providing conclusions concerning the management of accounts receivable based on the financial statements of Columbia Sportswear Company presented

  How to prepare a formal business report

Prepare a formal business report, containing the appropriate sub-headings (please see report format on page 7 for sub-headings to be used). Also use the marking grid on page 9 as a checklist of what to cover and sub-headings to use.

  Illustrate what is the term differential used to indicate

Explain why consolidated financial statements become increasingly important when the purchase differential is very large. Illustrate w hat is the term differential used to indicate?

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