What would be the annual depreciation

Assignment Help Accounting Basics
Reference no: EM133078111

Question - If a bar bought an expresso machine for 20,000 and it was estimated that the machine would be good for 10 years after which it would have a residual value of 2,000. What would be the annual depreciation using the straight line method.

Reference no: EM133078111

Questions Cloud

Evaluation of current financial status : After an evaluation of its current financial status and an assessment of future industry trends,
Draw the range of possible distributions : Consider two people that each have the following Utility Function in the consumption of Good X and Good Y: U = 2 X'ZY'S The economy has 25 units of Good X and 6
Prepare journal entries for dish pan payroll : Prepare journal entries for Dish Pan's payroll and the related payroll expenses. The dates and memo entries are already provided
Develop vision statement for organization : Develop a vision statement for any organization of your choice. Your vision statement should be designed to encourage a high-performing and competitive future
What would be the annual depreciation : If a bar bought an expresso machine for 20,000. What would be the annual depreciation using the straight line method
Cultures of servant leadership and their impact : Review the study materials and read "Cultures of Servant Leadership and Their Impact."
How should the company record this donation : Instead of selling the furniture at the end of its useful life, the company donates its old furniture to charity. How should the company record this donation
Which is more detrimental to firm : Which is more detrimental to a firm, pricing your product or service too high, or pricing your product or service too low?
How much would michael amortize this customer list : On 10/1/19, Michael paid $40,000 for a customer list. He incurred legal fees of $4,000. How much would Michael amortize this Customer List

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much is Barbara charitable contribution deduction

Barbara donates a painting that she purchased three years ago for $8,000, How much is Barbara's charitable contribution deduction for this donation? Explain

  The relative ability of the two companies to control

Explain how Lumber Liquidators could have a substantially higher gross profit percentage than Lowe's but a nearly identical net profit margin. What does this suggest about the relative ability of the two companies to control operating expenses?

  How much is the consolidated asset as of date of acquisition

Alpha Company acquired 75% of the shares of BETA Company for an amount which is P300,000. How much is the consolidated asset as of date of acquisition

  Discuss the result of these transfers

William transfers a building and land worth $525,000 (basis of $200,000) for 50% of Orange's stock and $25,000 cash. Discuss the result of these transfers

  Why are the basic financial statements of a government u

why are the basic financial statements of a governmentu2014more so than those of a businessu2014inadequate as a basis

  How many of each type of bills and coins are in cash drawer

Create a worksheet that allows a person to enter in how many of each type of bills and coins are in the cash drawer

  How much fica tax should be withheld on the bonus

How much FICA tax should be withheld on the bonus? Susan's 2020 year-to-date FICA taxable wages are $80,000. On December 28, 2020, she receives a $10,000 bonus.

  What two actions could be used to remedy such a call

What relevance do margin requirements have in the short-selling process? What would have to happen to experience a margin call on a short-sale transaction?

  Use the information for navajo corporation from be10 to 8

Use the information for Navajo Corporation from BE10-8. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.

  Prepare all necessary journal entries for both situations

Exercise - The following are two independent situations. Prepare all necessary journal entries in 2014 for both situations

  Why may a trial balance not contain up to date

Why may a trial balance not contain up-to-date and complete financial information?

  On january 1 a company issues bonds dated january 1 with a

1.adidas issued 10-year 11 bonds with a par value of 170000. interest is paid semiannually. the market rate on the

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