User Account

All Pages

What was the estimated useful life of the machinery in years

Assignment Help Accounting Basics
Reference no: EM133188965

Question - Kiwi company issued a 2.5% promissory note payable in 3 equal annual installments to purchase machinery with a depreciable value of 3,000,000 on October 31, 2021. Interest expense relating to the promissory note was 16,650 for 2021. Unadjusted accumulated depreciation on December 31, 2022 amounted to 100,000.

-How much was the cost of the machinery?

-How much is the machinery's salvage value?

-What was the estimated useful life of the machinery in years?

-How much is adjusted accumulated depreciation on December 31, 2022?

-How much is adjusted depreciation expense on December 31, 2022?

Reference no: EM133188965

Questions Cloud

What is the effect of the june transaction : On June 30, 2007, the equipment was sold for 10,000,000. What is the effect of the June 30, 2007 transaction to the retained earnings
How much foreign taxes will us inc have as a credit : Earl Jones earned $1m of taxable income in the current tax year and paid $300,000 of French income tax. How much foreign taxes will US Inc have as a credit
Where did they get their financing : A company has zero debt in its financial statement. What do you think is the reason for this? Is it possible? Where did they get their financing? Is it good
Create and analyse threat model : Create and analyse threat model - List of identified threats (use a STRIDE table to list threats against the broad categories of STRIDE threats)
What was the estimated useful life of the machinery in years : Unadjusted accumulated depreciation on December 31, 2022 amounted to 100,000. What was the estimated useful life of the machinery in years
Explain how items treated in triangle financial statements : Explain how the items in (i) to (iii) above should be treated in Triangle's financial statements for the year to 31 March 2020
What are dawits income and price of good : What are dawits income and price of good y and what is the simplified version of dawit''s budget line equation
What is appropriate method for communicating with the team : The assessment of the risk treatment for appropriateness and ensuring it is lawful and follows organisational requirements
Apply key statistical theories and data mining concepts : Understand and apply key statistical theories and data mining concepts - What are the (top 5) most popular occupations among the bank customers

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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