User Account

All Pages

Record the sale of the machinery on September

Assignment Help Accounting Basics
Reference no: EM133097004

Question - Blue Jays Corporation purchased machinery on January 1, 2019, at a cost of $280,000. The estimated useful life of the machinery is five years, with a residual value of $10,000. The company is considering which depreciation method to use for financial reporting purposes.

Required -

a) Record the annual depreciation for 2021 using the straight-line method.

b) Record the annual depreciation for 2020 using the double-diminishing method.

c) Which method would result in the higher cash flow for 2019? Over the ?ve-year period?

d) Record the sale of the machinery on September 1st, 2022 for $140,000 cash. Assume the straight-Iine method of depreciation is used.

Reference no: EM133097004

Questions Cloud

Change the constitutional system : What political values would you want to consider if you were to change the constitutional system?
Examine how energy resources are used : Explore the connection between society and its use of energy resources. In particular, you will examine how these resources are used and some of the associated
Geopolitical to missionary : In the readings thus far, the text identified many early American interests in the Middle East from geopolitical to missionary.
Explain how texas population : Explain how Texas' population has changed throughout the state's history and how it is projected to change in the future.
Record the sale of the machinery on September : Record the sale of the machinery on September 1st, 2022 for $140,000 cash. Assume the straight-Iine method of depreciation is used
Briefly explain purpose of constitution : Briefly explain the purpose of the Constitution. Use relevant and factual information in your explanation.
Calculate the total funds required to proceed with project : The flotation cost of equity is 6% and the flotation cost for debt is 2%. If the capital project has a cost of $2 million, calculate the total funds required
Undermine separation of powers : How is it possible to undermine the separation of powers? What are the limits of checks and balances?
Mineral properties and applications : Explore the connection between society and its use of mineral and rock resources. Of special interest will be how our use of these resources

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