Project Description:

the following transactions occurred during 2013. assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated salvage value. depreciation is charged for a full year on all fixed assets acquired during the year, and no depreciation is charged on fixed assets disposed of during the year.

jan. 30

a building that cost $112,000 in 1996 is torn down to make room for a new building. the wrecking contractor was paid $5,100 and was permitted to keep all materials salvaged.

mar. 10

machinery that was purchased in 2006 for $16,000 is sold for $2,900 cash, f.o.b. purchaser’s plant. freight of $300 is paid on the sale of this machinery.

mar. 20

a gear breaks on a machine that cost $9,000 in 2008. the gear is replaced at a cost of $3,000. the replacement does not extend the useful life of the machine.

may 18

a special base installed for a machine in 2007 when the machine was purchased has to be replaced at a cost of $5,500 because of defective workmanship on the original base. the cost of the machinery was $14,200 in 2007. the cost of the base was $4,000, and this amount was charged to the machinery account in 2007.

june 23

one of the buildings is repainted at a cost of $6,900. it had not been painted since it was constructed in 2009.
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Price Type: Negotiable

Total Proposals: 3
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