What depreciation method was used

Assignment Help Financial Accounting
Reference no: EM131284766

A machine was purchased on January 1, 2012 for $870,000, estimated salvage value $125,000 and estimated service life of 10 years. If the annual depreciation expense for 2015 was $94,818; what depreciation method was used? Round all answers to the nearest whole dollar.

Reference no: EM131284766

Questions Cloud

Cost basis of the go-cart track for depreciation purposes : You pay $700,000 for a house and the land that it is on. The land is valued at $270,000 and the house is valued at $430,000. You decide to demolish the house ($30,000 demolition cost) and build a go-cart track at a cost of $750,000. What is the cost ..
Why would the second option be a mistake : When S1 died, his executor was given broad authority over his $9,000,000 estate. Assume that S1's estate includes property that is likely to double (or more) in value before his wife's death, why would the second option be a mistake?
What are the tax advantages of transferring : What are the tax advantages of transferring T's taxes attributes to A? What transactional substitutes might T use to secure these advantages?
What was the value of the inventory : A company had inventory on November 1, of 5 units at a cost of $10 each. OnNovember 2, they purchased 19 units at $12 each. On November 6, they purchased15 units at $15 each. On November 8, 17 units were sold for $45 each. Using theLIFO perpetual inv..
What depreciation method was used : A machine was purchased on January 1, 2012 for $870,000, estimated salvage value $125,000 and estimated service life of 10 years. If the annual depreciation expense for 2015 was $94,818; what depreciation method was used? Round all answers to the nea..
Using variable costing or absorption costing : XYZ Manufacturing rewards the company's plant manager with a year-end bonus based on the increase in the plant's Net Income. For the purposes of determining the manager's bonus, should Net Income be calculated using Variable Costing or Absorption Cos..
The equity method appropriate for strado investment : At a total cost of $6,700,000, Veravo Corporation acquired 238,000 shares of Strado Corp. common stock as a long-term investment. Veravo Corporation uses the equity method of accounting for this investment. Strado Corp. reports net income of $967,000..
What factors motivate acquisition transactions : What is qualitative information? What is quantitative information. what factors motivate acquisition transactions? Which are the most important do you think?
Determine the amount of after-tax income : The lanier company incurs 60,000 of annual fixed costs in manufacturing and selling a product that it sells for $15 per unit. The variable costs of manufactuing and selling the product are $9 per unit. Determine the amount of after-tax income that th..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial planning involves computation of series of

financial planning involves computation of series of budget.russell inc. is in the process of preparing the fourth

  The current ratio and horizontal analysis is analysis

The current ratio, Horizontal analysis is analysis, Harvest Catering is a local catering service. Using accrual accounting, when should Harvest recognize revenue from its catering service? Expenses originate from. The record in which transactions are..

  Case study- ljb company

LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future.

  What is sam gross profit for march

During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?

  Appropriate drivers for short term variable overhead costs

When using ABC, what types of cost drivers are appropriate for short-term variable overhead costs?

  Subsequent transfers to corporation

John organized Toucan Corporation 10 years ago. He contributed property worth $1,000,000 (basis of $200,000) for 2,000 shares of stock in Toucan (representing 100% ownership). John later gave each of his children, Julie and Rachel, 500 shares of the ..

  Discuss its relationship to the other managerial functions

Define the managerial controlling function, and discuss its relationship to the other managerial functions. Why do many people view controls negatively?

  How much is accounting rate of return

Edy's, Inc. wants to purchase of a new ice cream truck with a cost of $51,000. Edy's has a cost of capital of 7.4% and a required rate of return of 10.4%. Its income tax rate is 32%. The acquisition is proposed for January 1, 2011. Edy's expects it c..

  What is the company break even per in total sales

The president wanted to know the tweak even for each of the company's products. but tarn having trouble figuring them out.

  Interest earned from its investments in government bonds

For each separate case below, follow the 3 step process for adjusting the accrued revenue account:

  Petric company''s common stock was selling

During the current year, Petric Company had earnings per share of $2.20.

  Advise the board of directors

Advise the Board of Directors as to which of the three approaches to measuring performance is best for the organisation Cost Centre management

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