Calculate the annual straight-line depreciation expense for an asset that cost $20,000, has a useful life of four years, and has an estimated salvage value of $4,000.
Answer to relevant QuestionsUsing the activity method, calculate the first two years of depreciation expense for a vehicle that cost $32,000, has an estimated useful life of five years or 125,000 miles, and has an estimated salvage value of $2,500. The ...Unique Quality Recourses purchased a patent for $150,000 on July 1, 2009. The estimated useful life is 20 years. The legal life is 15 years. What is the amortization expense for the fiscal year ended June 30, 2010?Dependable Courier purchased four vehicles at a total cost of $55,500. The appraised values of the individual vehicles were as follows:Vehicle 1 ..... $12,390Vehicle 2 ..... 13,570Vehicle 3 ..... 15,930Vehicle 4 ...Categorize each of the following as a capital expenditure or a revenue expenditure (expense) for Service Enterprises and explain why:1. In accordance with the long-term maintenance plan, painted the building2. Purchased land ...Soda Pop Bottling Company bought equipment for $75,500 cash at the beginning of 2009. The estimated useful life is four years and the estimated salvage value is $3,500. The estimated productivity is 150,000 units. Units ...
Post your question