Porter inc acquired a machine that cost 361000 on october 1

Assignment Help Accounting Basics

Reference no: EM13604682

Porter, Inc., acquired a machine that cost $361,000 on October 1, 2010. The machine is expected to have a four-year useful life and an estimated salvage value of $31,000 at the end of its life. Porter, Inc., uses the calendar year for financial reporting. Depreciation expense for one-fourth of a year was recorded in 2010. Using the straight-line depreciation method, calculate the depreciation expense to be recognized in the income statement for the year ended December 31, 2012, and the balance of the Accumulated Depreciation account as of December 31, 2012. (Note: This is the third calendar year in which the asset has been used.) What is the 1. Depreciation Expense? and 2. Accumulated Depreciation?

Reference no: EM13604682

Questions Cloud

A uniformly charged plastic disk has a radius of 0100 m at : a uniformly charged plastic disk has a radius of 0.100 m. at what distance from the center along the central

Dorsey co has expanded its operations by purchasing a : dorsey co. has expanded its operations by purchasing a parcel of land with a building on it from bibb co. for 93000.

Draw the venn diagram that represents the relationship of : suppose the total sample space area in the rectangle denoted as s is all the students on msu campus. let a denote all

Using the periodic inventory system compute the cost of : periodic inventory system and inventory costing methodsin chronological order the inventory purchases and sales of a

Porter inc acquired a machine that cost 361000 on october 1 : porter inc. acquired a machine that cost 361000 on october 1 2010. the machine is expected to have a four-year useful

Suppose that the random variable x is equal to the number : suppose that the random variable x is equal to the number of hits obtained by a certain baseball player in this next 3

The police car begins to accelerate at the constant rate of : car a is traveling at va130kmh as it passes a police officer in car p but over the next 5 seconds the car uniformly

The charges on the circle are -474c at the position due : a charge of -3.89c is fixed at the center of a compass. two additional charges are fixed on the circle of the compass

A charge of -389c is fixed at the center of a compass two : a charge of -3.89c is fixed at the center of a compass. two additional charges are fixed on the circle of the compass

User Account

All Pages