Solution-What attack depreciation recorded would be

What attack depreciation recorded would be

Assignment Help Accounting Basics

Reference no: EM132821758

Problem 1: Attack Company buys a factory for $9,000,000 on Jan 1 2004 with an estimated life of 30 years and no salvage value and depreciates the building using the straight line method. On January 1, 2006 it adds a $1,000,000 addition to the building. On January 1, 2007 it revises the estimated life remaining to be 15 years. Attack always rounds its annual depreciation provision to the nearest dollar. The fiscal year end is December 31. Based on the information given, Attack's depreciation recorded in 2007 would be:

Option 1: $444,368
Option 2: None of the above
Option 3: $562,820
Option 4: $604,286
Option 5: $355,666

Reference no: EM132821758

Questions Cloud

Determine the maximum deduction that would be available : Determine the maximum deduction that would be available to Ms. Sheridan assuming She is an employee with $80,000 in income (no commissions).

Find how much should be recorded as investment income : Find How much should be recorded as investment income for the current year assuming that the preference share capital of Pen Inc. are non-cumulative?

How much is the balance of investment in associate : The investee reported net income of $1,000,000 for the current year. How much is the balance of Investment in Associate at the end of the current year?

What tiki will show on its year end balance sheet : Cost $2,000,000 new and is 50% depreciated. The market value of the building is $3,000,000 at year end. Tiki will show on its year end balance sheet

What attack depreciation recorded would be : Depreciation provision to the nearest dollar. The fiscal year end is December 31. Based on the information given, Attack depreciation recorded in 2007 would be

What is the depreciation expense for the year for casico toy : If the company uses the double declining balance method of depreciation, what is the depreciation expense for the year ended December 31st, 2018?

BC2013 Principles of Biochemistry Assignment : BC2013 Principles of Biochemistry Assignment Help and Solution, James Cook University - Assessment Writing Service - explain error in terms of precision

What are three risk assessment procedures an auditor : What are three risk assessment procedures an auditor should undertake in order to assess an entity's risks of material misstatement in an audit?

Calculate effective annual interest rate of early discount : Calculate the effective annual interest rate of the early discount settlement assuming a 365 day year. The company currently receives payment

User Account

All Pages

What attack depreciation recorded would be

Reference no: EM132821758

Reference no: EM132821758

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT