On January 2, 2011, the Deadra Band acquires sound equipment for concert performances at a cost of $32,500. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $2,500. During year 2011, the band performs 47 concerts. Compute the year 2011 depreciation using the straight-line method.
Answer to relevant QuestionsRefer to the information in QS. Compute the year 2011 depreciation using the units of production method. In QS, On January 2, 2011, the Deadra Band acquires sound equipment for concert performances at a cost of $32,500. The ...Crandon Company acquires an ore mine at a cost of $6,300,000. It incurs additional costs of $500,000 to access the mine, which is estimated to hold 1,000,000 tons of ore. The estimated value of the land after the ore is ...In early January 2009, Sanchez Builders purchases equipment for $102,000 to use in operating activities for the next five years. It estimates the equipment’s salvage value at $21,000. Prepare a table showing depreciation ...Bera Company pays $264,900 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the ...On April 1, 2010, Bricen Backhoe Co. purchases a trencher for $253,000. The machines is expected to last five years and have a salvage value of $25,300. Compute depreciation expense for year 2011 assuming the company uses ...
Post your question