What amount should be recorded in year one

Assignment Help Accounting Basics
Reference no: EM131711657

Question - Primm Industrial Contractors purchased a new truck on January 1st for $35,000. The truck is expected to have a useful life of five years with a salvage value of $4,500. It is estimated that the truck will be able to operate for 200,000 miles. In year one, Primm Industrial Contractors put 46,000 miles on the truck. What amount should be recorded in year one for depreciation expense if the units-of-production method is used?   

$8,050

$6,100

$7,015

$7,000

Reference no: EM131711657

Questions Cloud

Calculate the total overhead assigned to the cameras : Calculate the total overhead assigned to the 35mm cameras, using only machine hours to calculate a plantwide rate
What are the most important types of physical evidence : What are the most important types of physical evidence that may identify a suspect?What are the most vital aspects of most criminal investigations?
Define expressive or contextual critique : Choose any artist that interests you. Below is an artist list but these are only suggestions; you do not have to choose an artist on this list
Analyze the difference between means : Asthma is a reemerging health problem among children. In one experiment, a group whose attacks began before age 3 was compared with a group whose attacks.
What amount should be recorded in year one : What amount should be recorded in year one for depreciation expense if the units-of-production method is used
Explain your response in light of kant''s moral philosophy : Secondly, do you think that there are certain duties we perform or would perform regardless of inclination or context
Record year-end adjusting entry for the depletion expense : Prepare the December 31, 2017, entries to record both the ore deposit depletion and the mining machinery depreciation
Discuss about the undercover operations : Propose one (1) overall strategy in which you combine problem-oriented policing and investigation to tackle the identified issues.
How cole hardware used technology to manage inventory : Explain how Cole Hardware used technology to manage inventory and identify at least two (2) benefits of the use of this technology by the company

Reviews

Write a Review

Accounting Basics Questions & Answers

  The breakeven point in units would be 1 4800 units of small

assuming a constant mix of 3 units of small for every 1 unit of large. small large total sales 20 30 vc 14 18 total

  An objective of maximizing income from a widely diversified

The James Bond Fund is a mutual fund (open-end investment company) with an objective of maximizing income from a widely diversified corporate bond portfolio. The fund has a policy of remaining invested largely in a diversified portfolio of investm..

  Record these transactions in journal form

Record the transactions in journal form, assuming Dawkins Company uses the periodic inventory system.

  One client had indicated that they were interested in

income statements we are using the same company as in the first module. however you need to consider some additional

  On january 1 2014 blair corporation purchased for 500000 a

on january 1 2014 blair corporation purchased for 500000 a tract of land site number 101 with a building. blair paid a

  Observed capital structures refer to the observed capital

observed capital structures refer to the observed capital structures given in table 15.3 of the text. what do you

  Elements of affirmative action

Prepare a 750- to 1,050-word paper in which you describe the elements of affirmative action as it applies to private sector employers and how it interacts with Title VII requirements of Equal Employment Opportunity. Your paper must address, but is..

  Entry to record the exchange of assets

Lupa Inc. trades its used machine (cost $12,000 less $4,000 accumulated depreciation) for a new machine. In addition to exchanging the old machine (which had a fair market value of $9,000), Lupa also paid cash of $3,000.

  Stockholders equity accounts

MJ Company has identified the following items. Indicate whether each item is included in an account in the Stockholders' Equity category of the balance sheet and identify the account title. Also, indicate whether the item would increase or decreas..

  Explain the main objectives of comparative analysis why is

what are the main objectives of comparative analysis? why is it important for external users of financial statements to

  Kobyashi moru reports its inventory fixed assets

kobyashi moru reports its inventory fixed assets depreciation and cost of goods sold on a current value basis fair

  The excess of the actual return on plan assets

Evaluate this statement: The excess of the actual return on plan assets over the expected return decreases the employer's pension cost.

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