Stine company purchased machinery with list price of 64000

Assignment Help Accounting Basics
Reference no: EM13388828

Stine Company purchased machinery with a list price of $64,000. They were given a 10% discount by the manufacturer. They paid $400 for shipping and sales tax of $3,000. Stine estimates that the machinery will have a useful life of 10 years and a residual value of $20,000. If Stine uses straight-line depreciation, annual depreciation will be

a. $4,100.

b. $4,072.

c. $6,100.

d. $3,760.

Reference no: EM13388828

Questions Cloud

Who benefits from tariff or quota who loses why would : who benefits from a tariff or quota? who loses? why would domestic markets benefit from protectionist trade policies?
The purpose of the discussion board is to allow students to : make it a grade u ill get a great rating must be original fresh work will pay 15 in apa format with 3-4 reference.the
Describe how foreign exchange rates are determined how do : explain how foreign exchange rates are determined. how do changes in interest rates inflation productivity and income
Write down the advantages and disadvantages of selling : 1 what are the advantages and disadvantages of selling books and goods over the internet?2 amazon offered prime
Stine company purchased machinery with list price of 64000 : stine company purchased machinery with a list price of 64000. they were given a 10 discount by the manufacturer. they
Write down the potential consequences of country having a : what are the potential consequences of a country having a large overall debt? if you were in the position to implement
It is important to have a thorough understanding of the : it is important to have a thorough understanding of the meaning of marketing and its history. this foundation is
The financial statements of the melton manufacturing : the financial statements of the melton manufacturing company reports net sales of 300000 and accounts receivable of
An aging of a companys accounts receivable indicates that : an aging of a companys accounts receivable indicates that 4500 are estimated to be uncollectible. if allowance for

Reviews

Write a Review

Accounting Basics Questions & Answers

  Company merchandise inventory

A company's merchandise inventory includes all of the following, except:

  Monthly financial statements

National Credit and Cash purchased a general liability insurance policy for $2,400 for coverage for the calendar year. The entire $2,400 was charged to Insurance Expense on January 2, 2010. If the firm prepares monthly financial statements, the pr..

  Face value of one bond

Capius Corporation issued 2000 bonds in $1000 individual denominations. Each bond has twenty detachable warrants. The bonds and warrants were sold at 110. At the time the bond were issued each warrant had a market value to one percent of the face ..

  State requirements for land reclamation projects

Trained as a mining engineer, David has developed considerable expertise in the treatment and disposition of waste material. He also is well versed in the federal and state requirements for land reclamation projects

  Prepare journal entry to record the issuance of the bonds

Prepare the journal entry to record the issuance of the bonds.(For multiple debit/creditentries, list amounts from largest to smallest eg 10, 5, 3,2.)

  Efficient use of organisational operational precedures

Briefly describe the two types of strategies that companies may choose to persue. how can the efficient use of organisational operational precedures promote the effective implementation of company strategy?

  Conversion costs incurred uniformly over the production

All direct materials costs are added at the beginning of the production period cycle. Weighted-average costing is used by Rest-a-Lot. How many chairs were in inventory at the beginning of the month? Conversion costs are incurred uniformly over the..

  Explain contract using percentage-of-completion method

Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million

  Computing adjusted gross income

Ricky has a NLTCG of $40,000 and a NSTCL of $50,000. What is Ricky's 2008 capital loss deduction if Ricky's adjusted gross income for 2008 (before considering capital asset transactions) is $80,000?

  The wood furniture company manufactures tables in march the

the wood furniture company manufactures tables. in march the two production departments had budgeted allocation bases

  Accounts payable account-inventory purchase

Kristen Montana operates a retail clothing operation. She purchases all merchandise inventory on credit and uses a periodic inventory system. The accounts payable account is used for recording inventory purchases only; all other current liabilitie..

  Flotation costs of the new common stock

Debt equity ratio of 0.70, building a new $45 million manufacturing facility. cash flow of $6.2 million in perpetuity. the flotation costs of the new common stock would be 8% of the amount raised, The required return on the company's new equity is..

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd