August Co., whose accounting period ends on December 31, purchased a machine for $6,780 on January 1
Question:
August Co., whose accounting period ends on December 31, purchased a machine for $6,780 on January 1 with an estimated residual value of $790 and an estimated useful life of 4 years. Prepare depreciation schedules for the current as well as the following year using
(a) Straight-line
(b) Double declining-balance at twice the straight-line rate methods.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
a Straight Line b Double DecliningB...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
Question Posted:
Students also viewed these Cost Accounting questions
-
On January 1, 2013, Regal Manufacturing purchased a machine for $850,000. Regal Manufacturing expects the machine to remain useful for eight years and to have a residual value of $40,000. Regal...
-
On January 1, 2015, Alpha Manufacturing purchased a machine for $920,000. The company expects the machine to remain useful for eight years and to have a residual value of $70,000. Alpha Manufacturing...
-
On January 1, 2013, Regal Manufacturing purchased a machine for $850,000. Regal Manufacturing expects the machine to remain useful for eight years and to have a residual value of $40,000. Regal...
-
Why are process control systems necessary? Give TWO examples of their usefulness within the plant.
-
1. Show that the total energy of a simple pendulum undergoing oscillations of small amplitude 0 is approximately E 1/2mgL 0 2 . 2. What would be the period of the pendulum in Problem 50 if the...
-
Refer to the previous question. Suppose plants 1 and 2 represent different building alternatives for the same site (that is, only one of these plants can be built). Similarly, suppose plants 4 and 5...
-
An instructor administers a 27 -item quiz to her class of 25 students. Each student's score on the quiz is the number of items answered correctly. These scores are listed below: a. Construct a...
-
Following is a list of advantages and disadvantages of the corporate form of business. 1. Ownership and management are separated. 2. Has continuous life. 3. Transfer of ownership is easy. 4....
-
A 08.30% annual coupon, 5-year bond has a yield to maturity of 03.50%. Assuming the par value is $1,000 and the YTM is expected not to change over the next year: a) what should the price of the...
-
Margie Company needs your help to record and summarize its accounting transactions for 2021 and to prepare its financial statements for that year. Margie Company provided you with the following...
-
From the following, prepare depreciation schedules for the first 2 years for (a) Straight-line, (b) Units-of-production, (c) Double declining-balance at twice the straight-line rate methods. Machine...
-
A machine that cost $9,080 with $3,920 of accumulated depreciation was traded in for a similar machine having a $5,850 cash price. An $835 tradein was offered by the seller. a. Calculate the book...
-
The activity of the heart depends on both the inherent properties of the cardiac muscle cells and the activity of the autonomic nerves to the heart. Therefore, a. Cutting all of the autonomic nerves...
-
Sopan was happy to lend his textbook to a fellow student who seemed bright and friendly. He was surprised when his classmate did not return it. His assumption that the bright and friendly student...
-
Leslie repeats a unique sound, known as a __________when she engages in meditation.
-
What are the functions of emotions?
-
Many people enjoy watching movies, sporting events, and music performances in crowded theaters and arenas more than they like watching them at home alone. Which theory of emotions may help explain...
-
Dreams most often occur in __________sleep.
-
1. Develop a list of at least five search engine optimization strategies to help Gitman Brothers move up in search engine results. 2. Write a memo to the managers at Gitman Brothers that outlines the...
-
Tarick Toys Company manufactures video game consoles and accounts for product costs using process costing. The following information is available regarding its June inventories. The following...
-
For each of the six items listed below, indicate which of these three descriptions applies: a. Total of gross paycomes from distribution of expense accounts b. A deduction c. Net pay 1. Salaries...
-
Calculate the total wages earned for each employee (assume an overtime rate of time-and-a-half over 40 hours): Employee Tean Knott Abe Janzen Mike Toth Hourly Rate $13.20 15.00 16.00 Hours Worked 36...
-
Compute the net pay for each employee for the first week of February using the tables in the text. The only deductions are for income tax, CPP, and EI. Employee Ben Smith May Cheung Status Married...
-
Use matrices (row-echelon form) to solve the following system of linear equa- tions. If the system has no solution, say that it is inconsistent. 3x + 2y = 7 x+y=3
-
For the following function : f(x) = 1/3 x^3 + 4x^2 + 16x a. Determine the critical points. b. Calculate the second derivative c. Determine if the function is concave up or down or not concave d....
-
2. An activity director for a cruise ship has surveyed 240 passengers. Of the 240 passengers; 135 like swimming, 150 like dancing, 65 like games, 80 like swimming and dancing, 40 like swimming and...
Study smarter with the SolutionInn App