What depreciation method does foremost use

Assignment Help Accounting Basics
Reference no: EM131800883

Problem

Foremost purchased a machine on 1/1/14 for $200,000, estimated salvage value $20,000 and estimated service life of 6 years.

Required: If the depreciation expense for 2015 was $42,857; what depreciation method does Foremost use? Round all answers to the nearest whole dollar.

Reference no: EM131800883

Questions Cloud

Wxplain the process by which a court will analyze the statue : When the test results proved positive, Jennifer admitted to police that she had regularly smoked crack cocaine during her pregnancy.
Compute the total amounts of dividends to preferred : Compute the total amounts of dividends to preferred and common stockholders for 2014 and 2015 if total dividends are $ 110,000 in 2014 and $ 231,000 in 2015.
Automobile ownership and discount airline tickets : For years Greyhound Bus Lines has been faced with stiff competition from increased automobile ownership and discount airline tickets.
What do you see as their distinctive competencies : What do you see as their "distinctive" competencies?
What depreciation method does foremost use : If the depreciation expense for 2015 was $42,857; what depreciation method does Foremost use? Round all answers to the nearest whole dollar.
Impacts of prolonged exposure : a. What are 2 negative impacts of prolonged exposure to an organizational culture of incivility on the quantity or quality of the products or output of an organ
Calculate amount of interest revenue oberley will recognize : On October 1, 2018, Oberley Corporation loans one of its employees $39,000. Calculate the amount of interest revenue Oberley will recognize in 2018 and 2019.
Prepare an article for the hospital newsletter : You are currently working as an administrative assistant for a large metropolitan hospital. You have been asked to prepare an article for the hospital
Record the two journal entries that should be recorded : Record the two journal entries that should be recorded by Sandhill Inc. for the sales transactions above that took place on July 1, 2017.

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.

  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!

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