User Account

All Pages

What depreciation would Herman record for the year

Assignment Help Accounting Basics
Reference no: EM133075949

Question - Herman Apparel has purchased equipment on January 1, 2018, for 5.528.000. In 2018-2020. Herman depreciated the asset on a straight-line basis with an estimated useful life of eight years and an $80,000 residual value. In 2021: Herman has started to change its business strategy and now believes that the equipment will be used for only another two years five years total but does not believe the residual value has changed. What depreciation would Herman record for the year 2021 on this equipment?

Reference no: EM133075949

Questions Cloud

How much of a refund can Davide expect : He is a resident of Quebec and in the highest tax bracket at 53.31%. How much of a refund can Davide expect to receive for making this contribution
Develop culturally responsive negotiation strategy : Based on the cultural differences, develop a culturally responsive negotiation strategy for American negotiators to deal with Japanese negotiators.
Expected return and standard deviation of the return : Assuming the CAPM holds. Consider a portfolio comprised of two risky assets. The expected return and standard deviation of the return on asset 1 are 1% and 6% r
ICT373 Cloud Computing Assignment : ICT373 Cloud Computing Assignment Help and Solution, King's Own Institute - Assessment Writing Service - analyse requirements for the planning
What depreciation would Herman record for the year : Herman Apparel has purchased equipment on January 1, 2018, for 5.528.000. What depreciation would Herman record for the year 2021 on this equipment
Most appropriate benchmark for portfolio : Explain the following: Most appropriate benchmark for each portfolio and include an explanation.
Discuss key elements of effective listening : Discuss key elements of effective listening and the importance of listening to a leader when they communicate
Effective cost of the monthly payments : You are going to take a mortgage. N = 30 years, down payment is $20,000 on a $200,000 house, so you borrow $180,000. If the interest rate is 6%/yr compounded mo
Find optimized weight of class : For asset with the following return profile, I am trying to find optimized weight of each class.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Atlas steel company produces three grades of steel high

atlas steel company produces three grades of steel high good and regular grade. each of these products grades has high

  How much is the ending balance in the Cash account

Cash disbursements totaled $855 and cash receipts totaled $1050. How much is the ending balance in the Cash account

  Write journal entry

02/01 Bought 40,000 of the 100,000 outstanding shares of the A corporation for $400,000 as trading securities. Write journal entry

  Plum deduction for the contribution

Plum's basis in the computers is $70,000, and their fair market value is $250,000. What is Plum's deduction for the contribution of the computers (ignoring the taxable income limitation)?

  Describe any business process

Describe any business process, its objective(s) and the general flow of paperwork/decisions. For example, the objective of the Purchasing process is to buy item

  At december 31 2010 kifer company had 500000 shares of

at december 31 2010 kifer company had 500000 shares of common stock outstanding. on october 1 2011 an additional 100000

  Compute GBCs Earnings and Profits

In 2020 GBC Corp had taxable income of 2.5 million on Line 30 of the Fed Form 1120. Taxes paid to federal US - $500,000. Compute GBCs Earnings and Profits

  Explain some of the advantages and disadvantages of

explain some of the advantages and disadvantages of standard costs? if you were or are a manager how do you determine

  Katherine brewer is the owner and operator of personality sh

Katherine Brewer is the owner and operator of Personality Shine LLC, a motivational consulting business. At the end of its accounting period, December 31, 2013, Personality Shine has assets of $756,000 and liabilities of $181,000. Using the acc..

  What is the revenue recognition criteria under IFRS

What are the usual parts in the Equity section of the balance sheet? What is the revenue recognition criteria under IFRS

  Calculate the net present value of investment opportunity

Calculate the net present value of the investment opportunity. (Negative amount should be indicated by a minus sign. Round your intermediate calculations)

  What is the amount of interest

Frank makes a $25,000, 90-day, 7% cash loan to Clayborn Co. What is the amount of interest that Frank will collect on the loan

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