What is the original cost of the equipment

Assignment Help Accounting Basics
Reference no: EM131789320

Problem

On January 1, 2013, Dexter Corporation purchased a piece of equipment, which is being depreciated on a double declining balance basis over a useful life of 5 years, with a residual value of $20,000. The equipment's accumulated depreciation account has a credit balance of $96,000 and an adjusted credit balance of $117,600 on January 1, 2015 and December 31, 2015, respectively. The original cost of the equipment is:

a)None of the other alternatives are correct
b)$148,000
c)$170,000
d)$128,000
e)$150,000.

Reference no: EM131789320

Questions Cloud

What amount of gain or loss will be recorded by rocky : Rocky Company trades equipment with a book value of $24,970 for new equipment with a list price. What amount of gain or loss will be recorded by Rocky?
Find the instantaneous rate of change : (a) Find the instantaneous rate of change of the average cost for any level of production.
Reflect on specialty of interest and practicum exprience : What key topics, processes, best practices, advancements, and technologies have you seen or heard about?
What amount should be included as a foreign exchange loss : In Grete's 2011 income statement, what amount should be included as a foreign exchange loss
What is the original cost of the equipment : On January 1, 2013, Dexter Corporation purchased a piece of equipment, which is being depreciated. What is the original cost of the equipment?
Calculate wind chill temperature : One form of the formula that meteorologists use to calculate wind chill temperature (WC) is
What is the cost to build the new plant : Samsung runs a 5-year old semiconductor plant mat makes 100.000.000 memory chips per year and cost $150.000.000 when it was Built Now plant to make 250.000.000.
Create a report for a practice committee at an institution : The purpose of this assignment is to have a clear understanding of the elements of a theory and to apply a theory to practice.
Allometric relationships-crabs : For fiddler crabs, data gathered by Thompson* show that the allometric relationship between the weight C of the claw and the weight W of the body is given by

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the stand cost percentage

Actual cost of sales for the month of January was $11,885. Calculate the stand cost percentage and the actual cost percentage for January

  Interest revenue from installment sale

Upper World Corporation sells tractor trailers on the installment plan. On October 1, 2014, Upper World entered into an installment-sale contract with Lower Sky Inc. for a 5-year period. Equal annual payments under the installment sale are $250,00..

  The financial statements for metzger inc and ortiz corp

the financial statements for metzger inc. and ortiz corp. just prior to their combination for the year ending december

  A physical count on may 31 2010 shows 2000 units of part mo

zimmerman corp. had 1500 units of part m.o. on hand may 1 2010 costing 21 each. purchases of part m.o. during may were

  A corporate purchases 3000 shares of its 10 par common

a corporate purchases 3000 shares of its 10 par common stock for 16 per share. the debit part of the journal entry for

  On january 25 coot company has 430000 deposited with a

on january 25 coot company has 430000 deposited with a local bank. on january 27 the company writes and mails checks of

  Prepare a schedule to determine whether at the end of 2013

on january 1 2009 vallahara company purchased machinery for 650000 which it installed in a rented factory. it is

  Compute the equivalent units of production

A manufacturing company produces a single product in a single processing department. Compute the equivalent units of production (EUP) for materials

  Describe a worse-case scenario for an affiliated group

Describe a worse-case scenario for an affiliated group seeking to file a consolidated tax return. Provide specific examples to support your response.

  Prepare the company budgeted income statement for the year

Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Prepare the company's budgeted income statement for the year

  Samuelson and messenger sampm began 2013 with 250 units of

samuelson and messenger sampm began 2013 with 250 units of its one product. these units were purchased near the end of

  Corporation is issuing 241690 of 8 percent 5 year bonds

corporation is issuing 241690 of 8 percent 5 year bonds when potential bond investors want a return of 16 percent.

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