What journal entry would be needed to record the machines

Assignment Help Accounting Basics
Reference no: EM131773298

Superior Paint Company installs a manufacturing machine in its factory at the beginning of the year at a cost of$87,000.The machine's useful life is estimated to be 5 years,or 400,000 units of product,with a$7,000 salvage value.During its second year,the machine produces 84,500 units of product. What journal entry would be needed to record the machines' second year depreciation under the units-of-production method?

Reference no: EM131773298

Questions Cloud

Impermissible methods of coming to possess : What are some impermissible methods of coming to possess or hold things according to Robert Nozick in Distributive Justice?
How would the principle of rectification apply here : According to Robert Nozick, what questions does past injustice raise for current holders? How would the principle of rectification apply here?
Why did a conglomerate structure make sense for cpl : How has CPL evolved as a company? Why did a conglomerate structure make sense for CPL in the past? Does it still make sense? Explain.
Display on three different categories : In this paper, i will think about shanghai int eh initial 1900s and the display On three different categories: a portion Realities something.
What journal entry would be needed to record the machines : What journal entry would be needed to record the machines' second year depreciation under the units-of-production method
Calculate the proposal net present value : Corporation is reviewing an investment proposal that has an initial cost of $52,500. Calculate the proposal's net present value
Learn about assumptions in arguments : Warrants: Examining Assumptions in Elements of Argument to learn about assumptions in arguments.
Consider a school-appropriate song : Consider a school-appropriate song that you listen to or enjoy.
Radius of gyration of the bar about the center of gravity : A uniform bar of length L is suspended in the horizontal position by two vertical strings of equal length attached to the ends.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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