User Account

All Pages

What is the depreciation expense for ameche company

Assignment Help Accounting Basics
Reference no: EM132674942

On January 1, 2015, Ameche Company purchased a machine for P4,000,000 and established an annual straight line depreciation rate of 10%, with no residual value. During 2019 the entity determined that the machine will not be economically useful in the production process after December 31, 2019. The entity estimated that the machine had no residual value on December 31, 2019, and would be disposed of in early 2020 at a cost of P100,000.

Problem 1: In the income statement for the year ended December 31, 2019, what is the depreciation expense?

Problem 2: What is the impairment loss in 2019?

Reference no: EM132674942

Questions Cloud

Find what amount should be recognized as impairment loss : Connery Company acquired equipment on January 1, 2019 for P10,000,000. What amount should be recognized as impairment loss for 2020?
Show the graph of the net payoff diagram : Show the gross and net pay-o table of a Bull spread on call option, and show the graph of the net payoff diagram
What amount of loss on impairment should be recognized : The fair value less cost of disposal of the machine on January 1, 2019 is P1,200,000. What amount of loss on impairment should be recognized?
Compute the the duration of bond : A six-year bond, with a Face Value of $1000 has yield rate of 5% compounded continuously, and coupon rate of 6% compounded semi-annually, paid every half-year.
What is the depreciation expense for ameche company : On January 1, 2015, Ameche Company purchased machine for P4,000, In the income statement for the year ended December 31, 2019, what is the depreciation expense?
Recommend a strategy to reduce the total length of time : If she cannot afford to increase her current repayments, and is unable to negotiate a better interest rate, recommend a strategy to reduce the total length
What is coleman cost of common equity : Coleman Technologies Inc. Cost of Capital Coleman Technologies is considering a major expansion program that has been proposed by the company's information
What amount should be recognized as impairment loss : P1,300,000 on January 5, 2020.In the income statement for the year ended December 31, 2019, what amount should be recognized as impairment loss?
Find what is the carrying amount of the asset : On January 1, 2015, Nicholson Company acquired equipment for P2,000,000. On December 31, 2019, what is the carrying amount of the asset?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What other types of business formations are allowed by state

Conduct research for the laws of the state in which you live that regulate the formation of partnerships. What other types of business formations are allowed

  What is the budgeted production

The estimated January 1, 2012, inventory is 4,017 units, and the desired December 31, 2012, inventory is 6,570 units. What is the budgeted production

  Destruction of properties due to war revolution and other

some of the risks that a u.s. based mnc can encounter in its foreign investments arei- an increase in the cost of

  Journalize summary entry to record direct materials for july

Question - Entries for factory costs and jobs completed. Journalize the summary entry to record the direct and indirect materials used for July

  Ways for valuing stocks

What are ways for valuing stocks? Do you believe these valuation techniques could actually lead the average investor to make a profit buying and selling stock? Why or Why not?

  Example of the kinds of decisions

Explain what each of the different responsibility centers is and what each is accountable for and why each center has its own budget. Give an example of the kinds of decisions where incremental analysis would be used in each center.

  Identify the shareholders equity components

Identify the shareholders' equity components that are reported on the face of Brookfield Asset Management's consolidated balance sheet

  Show how accounts receivable and the allowance for doubtful

at december 31 2011 ethan company reports the following results for its calendar-year.cash sales 1803750credit sales

  What is the budget variance

Fixed production costs for the Velvet Corporation are budgeted at $80,000, assuming 40,000 units of production. What is the budget variance

  Depreciation recorded on plant and equipment 28000

hudson company uses a job-order costing system. the following transactions took place last yeara. raw materials were

  Prepare a monthly purchases budget

Prepare a monthly purchases budget and a schedule of budgeted cash payments for purchases for july, aug and sept

  The companys stock has beta of 1 the risk-free rate is 8

a company currently pays a dividend of 3.25 per share d0 3.25. it is estimated that the companys dividend will grow at

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