Solution-What adjusting entry for machinery depreciation

What adjusting entry for machinery depreciation

Assignment Help Cost Accounting

Reference no: EM13535115

A business bought new computer software for $57,750 at the start of the year. It decides to follow IRS rules for depreciation of computer software and thus will depreciate the software cost over three years. The straight-line method (equal amounts per year) is used. The business has not recorded any depreciation on this software during the year. What year-end adjusting entry is recorded for depreciation of the computer software?

Based on its depreciation schedules, the annual depreciation on the business's machinery is $420,000. The business uses the straight-line depreciation method. The business recorded a machinery depreciation expense at the end of each quarter during the year, but no entry has been made for the fourth and final quarter. What adjusting entry for machinery depreciation should be recorded at year-end?

Reference no: EM13535115

Questions Cloud

Determine with what speed does the lighter ball emerge : A ball of mass m and another ball of mass 3m are placed inside a smooth metal tube with a massless spring compressed between them. With what speed does the lighter ball emerge from the other end

Explain what percent is each by moles : If a mixture of acetone(MW 58.1, dens. 0.791 g/ml) and toluene(MW 92.1, Dens. 0867 g/ml) is 1:1 by volume, what percent is each by moles

What is the angle of the incline above horizontal : A 4.00 kg block slides down a frictionless inclined plane with an acceleration 3.00m/s2. What is the angle of the incline above horizontal

Define a galvanic cell consists of an electrode : A galvanic cell consists of an electrode composed of aluminum in a 1.0 M aluminum ion solution and another electrode composed of silver in a 1.0 M silver ion solution, connected by a salt bridge. Calculate the standard potential for this cell at 2..

What adjusting entry for machinery depreciation : The business recorded a machinery depreciation expense at the end of each quarter during the year, but no entry has been made for the fourth and final quarter. What adjusting entry for machinery depreciation should be recorded at year-end?

Calculate what is the temperature change : a 0.02 kg lead bullet traveling 200 m/s strikes an armor plate and comes to a stop. If all of its energy is converted to heat that it absorbs, what is the temperature change

What adjusting entry should be made to correct error : The amount of employer's social security tax for the last pay period is $29,600. What adjusting entry should be made to correct this error?

Find the work that the donkey performs on the cart : A cart for hauling ore out of a gold mine has a mass of 437 kg, including its load. Find the work that the donkey performs on the cart during this process

What adjusting entry should be made at the end : What adjusting entry should be made at the end of the first year concerning the cost of the franchise?

User Account

All Pages

What adjusting entry for machinery depreciation

Reference no: EM13535115

Reference no: EM13535115

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT