User Account

All Pages

What depreciation would ABC record for the year

Assignment Help Accounting Basics
Reference no: EM132714392

Question - ABC Corporation purchased equipment on January 1, 2018, for $650,000. In 2018 and 2019, ABC depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $10,000 residual value. In the beginning of 2020, due to changes in technology, ABC revised the remaining useful life to four years with no residual value. What depreciation would ABC record for the year 2020 on this equipment?

A) $108,333

B) $106,667

C) $122,500

D) $134,000

Reference no: EM132714392

Questions Cloud

Find maintenance total cost to packaging department : What amount of Maintenance total cost is allocated to the Packaging Department? (round to closest whole dollar)
Paper on participative management and effective delegation : Paper on participative management and effective delegation. Describe what it is, how it is used effectively, and when its use would not be productive
What are the benefit of an aggressive financing strategy : What are the five factors that companies consider? What are benefits, costs and risks of an aggressive financing strategy and a conservative financing strategy?
Develop a disaster recovery plan for an organization : Develop a disaster recovery plan for an organization. There are many different templates available online for you to use as reference and guidance.
What depreciation would ABC record for the year : ABC revised the remaining useful life to four years with no residual value. What depreciation would ABC record for the year 2020 on this equipment
Compare the basic arguments about dividend policy proposed : Compare the basic arguments about the dividend policy proposed by Miller and Modigliani (M&M) and that proposed by Gordon and Lintner.
Unleashing the power of human capital : Read and examine the document titled Unleashing the Power of Human Capital: Mastering the Legal Aspects of Business in the Readings
Create a python program to solve a simple pay calculation : Create a Python program to solve a simple pay calculation. Calculate the amount of pay, given employee name, hours worked, and hourly rate.
Efficiency of protein synthesis : What are 2 factors that significantly increase efficiency of protein synthesis?

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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