User Account

All Pages

How much is the depreciation for the year

Assignment Help Financial Accounting
Reference no: EM133132608

Question 1 - Question 17 On January 1, 2022, Kyle Co. purchased an equipment for P15,435,000. The equipment had been depreciated using the straight-line method with residual value of P945,000 and useful life of 18 years. On January 1, 2024, the entity determined that the remaining useful life is 8 years and the residual value is P1,370,000. What is the depreciation for 2024?

Question 2 - On January 1, 2022, Leo Company purchased a machine for P8,500,000 and depreciated it by the straight line using an estimated life of 14 years with P450,000 salvage value. On January 1, 2024, Leo determined that the machine had a remaining useful life of 8 years with no salvage. An accounting change was made in 2024 to reflect these additional data. How much is the depreciation for the year 2022?

Reference no: EM133132608

Questions Cloud

Prepare contribution margin income statements : Variable overhead is $3.10 per direct labour-hour. Prepare contribution margin income statements for the two-month period both with and without special order
Evaluate the positive benefits and negative aspects : Evaluate the positive benefits and negative aspects, respectively, of HMO managed care from the provider's point of view-i.e., a physician and a healthcare faci
Compare impacts to unconditional cash transfer policy : 1.Child Labor. Suppose each child's total time T is allocated between home time (H) and employment (L=T-H), where H is a normal good. The household has an endow
Prepare the multistep income statement for the year ended : Spring Cleaning Company reported the following balances for 2020. Use this information to prepare the multistep income statement for the year ended
How much is the depreciation for the year : An accounting change was made in 2024 to reflect these additional data. How much is the depreciation for the year 2022
Research shows that some publicly available information : Research shows that some publicly available information such as dividend yields can be used to predict future security returns, discuss whether this fact violat
What amount should joey report as prior period adjustment : Both the P170,000 and the P130,000 are net of related income taxes. What amount should Joey report as prior period adjustment in 2023
How does childhood obesity interact : In the United States, Childhood obesity and social science relate. How are my questions?
Assess the changes that you think need to take place : Assess the changes that you think need to take place in the economy before we see a real estate recovery.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the the current ratio for pepsico

The calculations you perform for CheckPoint form the basis of your analysis of your capstone project. Calculate the The Current Ratio for 2005 and The Current Ratio for 2004 for PepsiCo, Inc. and show your work.

  Profit margin and investment turnover ratios

The Chewy Chocolate Division of the Delight Confection Company had a rate of return on investment (ROI) of 12 percent (= $1,200,000/$10,000,000) during Year 5,  Break down the ROI for Year 5 and Year 6 into profit margin and investment turnover ratio..

  Explain the accounting treatment required

Briefly explain the accounting treatment required under appropriate Australian Accounting Standards if they spent money exploring for minerals.

  What amount should depreciation expense be decreased

Zinc Co. owns 100% of Concord Inc. On January 2, 20x1, Zinc sold equipment with an original cost of $80,000 and a carrying amount of $48,000 to Concord for $72,000. Zinc had been depreciating the equipment over a 5-year period using straight-line dep..

  What are the good points of leverages

Your financial ratios are not similar to other companies in your industry. What can be going on? What are the good points of leverages?

  Estimate the rupiah riskless rate

S&P has a rating of BB on these bonds, and the typical spread for a BB-rated country is 5% over a riskless rate. Estimate the rupiah riskless rate.

  Why should whitepearl berhad focus on project free cash flow

Why should WhitePearl Berhad focus on project free cash flows as opposed to the accounting profits earned by the project when analyzing

  Prepare entries in the general fund

Prepare entries in the general fund to record the transactions and events Estimated revenues for the fiscal year were $250,000 and appropriations were $248,000.

  What a provision is according to ias

Explain what a provision is according to IAS 37 'Provisions, Contingent Liabilities and Contingent Assets.' Include in your explanation a discussion

  Is the head office building an asset

Is the head office building an item of PPE? The head office building houses the entity's accounting, human resources and other administrative staff.

  Trial balance of cx trading

The trial balance of CX Trading as at 31 December 20x5 showed a difference which was posted to a suspense account.

  What direct material cost would boateng allocate

The company paid $380,000 for direct materials in the period. What direct material cost would Boateng allocate to abnormally spolied units?

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