User Account

All Pages

What is the total depreciation

Assignment Help Accounting Basics
Reference no: EM132990650

Question - Andrei Company was incorporated on January 1, 2017. In preparing the financial statements for the year ended December 31, 2020, the entity used the following original cost and useful life for the property, plant and equipment:

Original Cost Useful Life

Building 20,000,000 15 years

Machinery 15,000,000 10 years

Furniture 5,500,000 7 years

On January 1, 2021, the entity determined the property, plant and equipment had a useful life of 10 years for the building, 7 years for the machinery and 5 years for the furniture, from the date of acquisition. The entity used the straight line method of depreciation with no residual value. What is the total depreciation for 2021?

Reference no: EM132990650

Questions Cloud

Explain the purpose of the business plan : Explain the purpose of the business plan and its objectives. Be sure to include the following in your answer:
Describe the dilemmas or concerns of buyers : Question - Describe the dilemmas or concerns of buyers/importers and sellers/exporters in international trade
Good sleep habits and high-quality sleep : Identify ways to ensure good sleep habits and high-quality sleep, especially during periods of stress
Explain how political costs may be imposed upon the energy : Explain how "political costs" may be imposed upon the energy companies referred to in the article as a result of their reported profits.
What is the total depreciation : The entity used the straight line method of depreciation with no residual value. What is the total depreciation for 2021
List healthy ways of managing stress : List healthy ways of managing stress that fit your current lifestyle
Propose effective approaches to curb exchange rate risks : Propose effective approaches to curb exchange rate risks for the MNC. Discuss in detail four (4) common theories that elucidate exchange rates movements.
What is sanchez gross margin for the year two : The company paid cash to purchase $10,600 of inventory. Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for the Year 2
Find and outline the leading theories of capital structure : Outline the leading theories of capital structure that predict that borrowing policy is not irrelevant. Include trade-off theory and pecking-order theory

Reviews

Write a Review

Accounting Basics Questions & Answers

  Make the December adjusting journal entry

On January 1, Valuation Allowance for Trading Investments had a zero balance. Make the December 31 adjusting journal entry

  Compute the amount of pamello current year deductions

Prepaid Expenses. Pamello, Inc., an engineering consulting firm, uses the cash method of accounting. Compute the amount of Pamello's current year deductions

  How much value did management create or lose

If the company's tax rate is 40%, how much value did it's management create or lose for the firm during the year

  Need journal entry for dec

On January 1, 20X1, Bravo Company borrowed $24,000 to purchase equipment. Need Journal entry for Dec 31

  Describe the efficiency and opportunistic perspective

Using Positive Accounting Theory (PAT), describe the 'efficiency' and 'opportunistic' perspective' with respect to companies paying bonus to their employees.

  Display a general ledger report for rock castle

display a general ledger report for rock castle construction for december 15th to december 31 2016 listing all asset

  Explain two ways organisations can use corporate disclosure

Explain two ways organisations can use corporate disclosure policy to maintain or regain organisational legitimacy? What is a social contract

  Calculate the amount of itemized deductions

For calendar year 2019, Stuart and Pamela Gibson file a joint return reflecting AGI of $350,000. Calculate the amount of itemized deductions

  Find the novak days in inventory

Ending inventory $102000; cost of goods sold $684000; and sales $872000. Novak days in inventory (rounded) in 2017 was

  What amount of compensation expense will Gretta recognize

During 20X4, 35 employees leave. What amount of compensation expense will Gretta recognize in 20X3, related to these options

  Harry purchased equipment for his business and gave the

harry purchased equipment for his business and gave the seller cash and a note due in two years. larry also purchased

  The worksheet for adams company shows the following

The worksheet for Adams Company shows the following in the financial statement columns.

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