Question: Calculate the book value of a three year old machine that has
Calculate the book value of a three-year-old machine that has a cost of $26,000, an estimated residual value of $1,000, and an estimated useful life of 50,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,200 hours in year 1; 7,050 hours in year 2; and 7,500 hours in year 3.
Answer to relevant QuestionsGarrett Company had the following activities for the year ended December 31, 2015: Sold land that cost $20,000 for $20,000 cash; purchased $181,000 of equipment, paying $156,000 in cash and signing a note payable for the ...Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2014, an asset account for the company showed the following balances:Manufacturing equipment ...Freeport-McMoRan Copper & Gold Inc., headquartered in Phoenix, Arizona, is one of the world’s largest copper, gold, and molybdenum mining and production companies, with its principal asset in natural resource reserves ...During the 2013 annual accounting period, BSP Company completed the following transactions:a. On January 1, 2013, purchased a patent for $28,000 cash (estimated useful life, seven years). b. On January 1, 2013, purchased the ...A recent annual report for Eastman Kodak reported that the cost of property, plant, and equipment at the end of the current year was $5,485 million. At the end of the previous year, it had been $6,022 million.During the ...
Post your question