User Account

All Pages

Millenium bought a custom-made piece of equipment for 36000

Assignment Help Accounting Basics
Reference no: EM13606065

Millenium bought a custom-made piece of equipment for $36,000. This equipment has a useful life of 6 years. Millenium depreciates equipment using the straight-line method. "Since the equipment is custom-made, it will have no resale value. Therefore, it shouldn't be depreciated but instead should be expensed immediately," argues Scott. "Besides, it provides for lower net income.what principle is being violated?

Reference no: EM13606065

Questions Cloud

How are intangible assets accounted for how does goodwill : how are intangible assets accounted for? how does goodwill differ from the rest? what makes it unique? how does the
What is the shortest distance you need to walk forward to : imagine you are in an open field where two loudspeakers are set up and connected to the same amplifier so that they
The collector transfers heat by natural convection to the : a flat plate solar collector 6 ft by 12 ft is mounted on the roof of a house. the outer surface of the collector is at
When you have something listed in the category of current : when you have something listed in the category of current liabilities it is your intention to pay the obligation
Millenium bought a custom-made piece of equipment for 36000 : millenium bought a custom-made piece of equipment for 36000. this equipment has a useful life of 6 years. millenium
Interest rate on a single payment your parents will retire : interest rate on a single payment your parents will retire in 18 years. they currently have 250000 and they think they
The following data were obtained from an analysis of the : adjusting entriesthe following data were obtained from an analysis of the accounts of co. a as of march 31 2008 in
Present and future value of an uneven cash flow stream an : present and future value of an uneven cash flow stream an investment will pay 100 at the end of each of the next 3
My question is this for an air conditioner used as a heat : in extremely cold weather conditions where the inside thermostat is set to 27 c and the outside temperature is -20 c

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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