What will be the net book value of the machine

Assignment Help Accounting Basics
Reference no: EM132980902

Question - Millco INC acquired a machine that cost 560000 in early 2019. The machine is expected to last for tenth years, and its salvage value at the end of its life is 76000.

Required -

A) Using straight line depreciation, calculate the accumulated depreciation after sixth year of the machine's life.

B) Using the declining-balance depreciation at twice the straight-line rate, calculate the depreciation expense for third year of machine's life.

C) What will be the net book value of the machine at the end of its tenth year of use before it is disposed of under each depreciation method.

Reference no: EM132980902

Questions Cloud

Discuss the assessment of employees : Discuss the assessment of employees within the Telespazio organization - Explain how the organization uses the appraisal assessment
Calculate the amount of the annuity : Assume that a pension plan offers to pay $500,000 on a person's retirement. Calculate the amount of the annuity that would make a person indifferent
Can you justify June treatment of the rental income : When June returns Home, she finds the check on her counter is for $16,000 rather than $14,000. Can you justify June treatment of the rental income
Leadership strategies for effective business operations : Leadership strategies for effective business operations - In-body academic citations to support your decisions and analysis are required
What will be the net book value of the machine : What will be the net book value of the machine at the end of its tenth year of use before it is disposed of under each depreciation method
What procedures should sharky perform to gain sufficient : What procedures should Sharky perform to gain sufficient evidence regarding Boston's allowance for uncollectible accounts
Discuss the theories of aging and 2 myths about aging : Effect of aging on different body systems, and why people age differently - Discuss the importance of treating the elderly as individuals
How to journalise both entries : He receives cash from customers for $3000 and cash received from insurance $ 1000. How to journalise both entries
Prepare entries in general journal : Prepare entries in general journal form to record the following unrelated transactions: Lindsay Ltd issued a prospectus inviting applications for 280,000

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