Biggest Company purchased a machine that has a manufacturers suggested life of 18 years. The company plans
Question:
Biggest Company purchased a machine that has a manufacturer’s suggested life of 18 years. The company plans to use the machine on a special project that will last 10 years. At the completion of the project, the machine will be sold. Over how many years should the machine be depreciated?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (6 reviews)
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Lowell Company purchased a machine that has a manufacturer's suggested life of 18 years. The company plans to use the machine on a special project that will last 12 years. At the completion of the...
-
At January 1, 2012, RU Company purchased a machine that cost $200,000. It has an estimated four-year life and a residual value of $20,000. The machine is expected to be used for a total of 6,000...
-
On January 1, 2017, Beard Company purchased a machine for $620,000. The machine is expected to have a 10-year life, no residual value, and will be depreciated by the straight-line method. On January...
-
A firm has initial fund of $800. The market rate of return is 12%. The firm has identified good investment opportunities to invest $640 at an average 25 per cent rate of return. How much dividend...
-
In mid-February 2016, European-style options on the S&P 100 index (OEX) expiring in December 2017 were priced as follows: Dec 2017 OEX Index Options Strike Price..........Call Price..............Put...
-
A biologist would like to determine which of two brands of weed killer, X or Y, is less likely to harm the plants in a garden at the university. Before spraying near the plants, the biologist decides...
-
A beam of protons enters the network of five chambers shown in Figure P27.56 with an initial speed of \(300 \mathrm{~m} / \mathrm{s}\) and moves through the network along the path indicated by the...
-
For 20Y6, Blue Buffalo Company initiated a sales promotion campaign that included the expenditure of an additional $60,000 for advertising. At the end of the year, Tamara Wasnuk, the president, is...
-
(a) X Ltd. is studying the possible acquisition of Y Ltd. by way of merger. The following data are available in respect of both the companies. Particulars Market Capitalization (Rs.) Gross Profit...
-
Explain the customer satisfaction gaps shown in Figure 4.1. Data from Figure 4.1. CUSTOMER SELLER Word of mouth communications GAP 1 GAP 6 GAP 5 GAP 3 GAP 2 FIGURE 4.1 Satisfaction and Quality Model...
-
Immediately after a used truck is acquired, a new motor is installed at a total cost of $4,150. Is this a capital expenditure or revenue expenditure?
-
On September 30, Madison River Inflatables Co. paid $1,425 to install a hydraulic lift and $35 for an air filter for one of its delivery trucks. Journalize the entries for the new lift and air filter...
-
Write the expression in the standard form a + bi. 15 21 cos 10 m + i sin 10
-
b) Assume you are writing a test case for a Web Service. Consider following. Same Web Service needs to run for 1000 test data sets. Required commands are unique across all 1000 test data sets. Using...
-
Limited or constrained resources are a fact in virtually every project. Often there are one or two resources that may be especially difficult to manage, so a project manager needs to look carefully...
-
a house sale is being closed on august 1 . the fair market value of the property is 1 4 4 . 0 0 0 $ . the assessed value is 5 0 % of fair market value and the tax levy is 5 5 mills . the tax paid in...
-
Institute training on the job. Questions: 1. What kinds of training would be useful? 2. Has training ever been given in the past that proved useless? Was the training itself at fault, or did the boss...
-
Of the 9 elements suggested by the SBA to be contained in a business plan, how many are solely focused on financial factors?
-
Research shows that an eyewitnesss memory for details of crimes can contain significant errors. How might a lawyer use this information when evaluating an eyewitnesss testimony? Should eyewitness...
-
United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...
-
What is meant by the absence of an articulated strategy does not mean that no strategy exists?
-
On June 1, Chetney Company Ltd. borrows $60,000 from First Bank on a 6-onth, $60,000, 8% note. The note matures on December 1. Instructions (a) Prepare the entry on June 1. (b) Prepare the adjusting...
-
In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1. Duvall Company rings up sales and sales taxes separately on its cash...
-
During the month of March, Lavonis Companys employees earned wages of $64,000. Withholdings related to these wages were $4,896 for Social Security (FICA), $7,500 for federal income tax, $3,100 for...
-
Sales Asha Inc. and Samir Inc. have the following operating data: Samir Inc. $1,131,000 Asha Inc. $369,100 Variable costs (148,100) (678,600) Contribution margin $221,000 $452,400 Fixed costs...
-
A 1.50 m segment of wire supplying current to the motor of a submerged submarine carries 1500 A and feels a 3.50 N repulsive force from a parallel wire 3.50 cm away. What is the direction and...
-
Two stars are orbiting each other in a binary system. If one star has a mass of 4.0 10 30 kg, the other star has a mass of 2.0 10 30 kg, and if they are 1.7 10 14 m apart, what is the force of...
Study smarter with the SolutionInn App