Ivy industrial packing co purchased a packing machine for

Assignment Help Accounting Basics

Reference no: EM13604434

Ivy Industrial Packing Co purchased a packing machine for $950,000 at the beginning of 2009. The robot has an estimated useful life of four years and an estimated residual value of $70,000. The packing machine, which should last 20,000 hours, was operated 6,000 in 2009; 8,000 hours in 2010; 4,000 hours in 2011; and 2,000 hours in 2012.

Required:

1. Compute the annual depreciation and carrying value (book value) for the robot for 2009, 2010, 2011, and 2012 assuming the following depreciation methods:

a. Straight-line

b. Units of production

c. Double-declining balance

2. If the packing machine is sold for $400,000 on 12/31/2010, what would be the amount of the gain or loss under each depreciation method?

Reference no: EM13604434

Questions Cloud

Moran company had 155400 of net income in 2012 when the : moran company had 155400 of net income in 2012 when the selling price per unit was 160 the variable costs per unit

Show that yne-xnbarconverges stochastically to px0e-u find : consider a random sample from a poission ditribution xipoiu.a show that yne-xnbarconverges stochastically to px0e-u.b

Bravo baking uses standard costing to analyze its : bravo baking uses standard costing to analyze its performance. the data below is provided for your use in determining

1 exercise 7-9 algorithmic periodic inventory by three : 1. exercise 7-9 algorithmic periodic inventory by three methods cost of merchandise sold the units of an item

Ivy industrial packing co purchased a packing machine for : ivy industrial packing co purchased a packing machine for 950000 at the beginning of 2009. the robot has an estimated

On a hot summer day in the state of washington while : 1. on a hot summer day in the state of washington while kayaking i saw several swimmers jump from a railroad bridge

Calculate the percent error between these two different : using excel find the value of the 95 confidence interval for a single-sample using the z variable and the students

Sovereign millwork ltd produces reproductions of antique : sovereign millwork ltd. produces reproductions of antique residential moldings at a plant located in manchester

Consider a stock with s0 50 that pays a dividend of 1 at : consider a stock with s0 50 that pays a dividend of 1 at t 1. suppose the effective not continuous annual interest

User Account

All Pages