What depreciation would alpha record for the year

Assignment Help Financial Accounting
Reference no: EM132804524

Problem 1: Alpha Corporation purchased equipment on January 1, 2018, for $650,000. In 2018 and 2019, Alpha 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, Alpha revised the remaining useful life to four years with no residual value. What depreciation would Alpha record for the year 2020 on this equipment?

Reference no: EM132804524

Questions Cloud

Calculate the monthly instalment to be paid over two years : The interest rate charged by Courts Fiji Ltd on hire purchases is 18% per annum. Calculate the monthly instalment to be paid over the two years.
How much will roe change if they switch to proposed : A firm faces a 30 percent tax rate and has $500m in assets, currently financed entirely with equity. Equity is worth $100 per share, and book value of equity
Explain components of multidimensional nursing care : Assist students with coordination of care for clients with musculoskeletal disorders and Explain components of multidimensional nursing care for clients
How should teachers positively deal with education pendulum : How should teachers positively deal with the education pendulum? Teacher burn-out (ASCD, 2018; New York Teacher, 2019; Rankin, 2016) is at an all time high.
What depreciation would alpha record for the year : Alpha revised the remaining useful life to four years with no residual value. What depreciation would Alpha record for the year 2020 on this equipment?
Describe buying on margin : Describe the differences among the following three types of orders: market, limit, and stop loss. Provide examples of each
Prepare separate entries for each transaction for flint co : Prepare separate entries for each transaction for Flint Company. The merchandise purchased by Pina Colada Corp. on June 10 cost Flint $5,500
How the activity enhances psychosocial development : The purpose of this assignment is for you to continue working on elements that will become part of your Community Center Proposal Final Project.
What is the discount rate on the stock : Top hedge fund manager Sally Buffit believes that a stock with the same market risk as the S&P 500 will sell at year-end at a price of $57.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What would the equity section of balance sheet

In the second year, it had income of $15900 and a dividend of $6900 was paid. what would the equity section of its balance sheet shown at year year end?

  Three people are starting with business in which first

three people are starting with business in which first person is contributing with 200000 for a 40 ownership interest

  Discuss the reasons a company would use a predetermined rate

Discuss the reasons a company would use a predetermined overhead rate rather than actual overhead to determine cost of products or services.

  Identify the appropriate reporting treatment

The Stridewell Company, a manufacturer of shoes, sold all of its retail outlets. It will continue to manufacture and sell its shoes to other retailers. A loss was incurred in the disposition of the retail stores. The retail stores are considered c..

  Employee cumulative earnings for the year

the employees cumulative earning for the year prior to this week equal $6,200. the employee's cumulative earnings for the year prior to this week equal $98,700.

  Paper that recommend a strategy for future growth of compnet

Write a 2-3 page paper that recommends a strategy for the future growth of Compnet. Identify specific risks associated with the strategy.

  Proposed project based on weighed average cost of capital

The Management of Ink’s Inc. is evaluating the following investment opportunity which will cost the firm $81,383.53 if undertaken. What will the NPV be on the proposed project based on a weighed average cost of capital of 9%? Additionally, what will ..

  Cash receipts budget-cash disbursements budget

Johnson Corp is interested in purchasing some new material-handling equipment right after the beginning of the new year. They would like to finance the new equipment with cash and marketable securities, but if necessary they can get a short-term loan..

  Determine the inventory turnover and number of days sales

Determine the inventory turnover and number of days sales in inventory for Neiman Marcus and Amazon.com. Interpret your results.

  Which not an expert upon whose an auditor may rely

Which of the following is not an expert upon whose an auditor may rely when auditing accounting estimates and fair value measurements?

  What the amount of cash paid for insurance

What The amount of cash paid for insurance during 2021 was equal to? The account balances were taken from THE Company's accounting records during 2021

  Find the bond market to investors at an amount

7%, a $500,000, 5% stated rate, 20 year bond issue that pays interest semiannually would sell in the bond market to investors at an amount

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