A machine now in use was purchased four years ago at a cost of $30,000. It has
Question:
A machine now in use was purchased four years ago at a cost of $30,000. It has a book value of $9,369. It can be sold for $12.000. hut it could be used for three more years. at the end of which time, it would have no salvage value. What is the current amount of economic depreciation for this asset?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
The loss of value is defined as ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A machine now in use was purchased four years ago at a cost of $20,000. It has a book value of $6,246. It can be sold for $7,000, but it could be used for three more years, at the end of which time,...
-
A truck was purchased four years ago for $65,000 to move raw materials and finished goods between a production facility and four remote warehouses. This truck (the defender) can be sold at the...
-
A special-purpose milling machine was purchased four years ago for $20,000. It was estimated at that time that this machine would have a life of 10 years, a salvage value of $ 1.000, and a cost of...
-
Selected information from Indigo Books & Music Inc.'s income statements for three recent years follows (dollars in thousands): Instructions (a) Calculate gross profit, and profit from operations, for...
-
Comparative income statements are available for Johanna's Fine Furs: Required Perform horizontal and vertical analyses on each of the items in the above comparative income statements. Round...
-
Mary is poor. She has not been able to find a job and has two children she needs to feed. Assume Mary is forced to let her children go hungry or steal some food from a local grocery store. Which...
-
Crest Corp. recorded the following transactions with its investees during 2008. 1. It sold inventory to Drape Inc. for \($75,000.\) The inventory had originally cost Crest \($65,000.\) Drape had...
-
Chandler Hats Corporation manufactures three different models of hats: Vogue, Beauty, and Glamour. Chandler expects to incur $360,000 of overhead cost during the next fiscal year. Other budget...
-
For each ordered pair (x,y), determine whether it is a solution to the inequality y>=-3. 0 answers
-
On December 31, 20X1, Ball Company leased a machine from Cook for a 10 year period, expiring December 30, 20Y1. Annual payments of $100,000 are due on December 31. The first payment was made on...
-
On January 2, 2010. the Allen Flour Comp any purchased a new machine at a cost of $82,000. Installation costs for the machine were $3,000. The machine was expected to have a useful life of 10 years....
-
What is the annual equivalent cost of purchasing a lift truck that has an initial cost of $65,000, an annual operating cost of $13,500, and an estimated salvage value of $23,000 after six years of...
-
Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville Associates, LLC. During 2010, she turns 70 and begins withdrawing the $320,000 in assets (balance as of...
-
What are the emerging trends in business communication technology, and how can organizations effectively adopt them to maintain competitive advantage ?
-
An aircraft costs $3.0 million to purchase. assuming a 10-year amortization, what is the quarterly depreciation expense for the aircraft? Show your Calculations.
-
Perez Company, which sells electric razors, had $320,000 of cost of goods sold during the month of June. The company projects a 9 percent increase in cost of goods sold during July. The inventory...
-
Write an Arduino sketch that contains the following six functions: a. forward () b. turnLeft () c. reverse() d. turnRight () e. accelerate() f. decelerate () As the names of the functions imply, you...
-
A student is standing on a scale inside an elevator, the scale initially reads 770-Newtons when the elevator is stationary. Then, some time later, the elevator begins to accelerate upward at a rate...
-
Tilton Company's balance sheet shows Inventory $162,800. What additional disclosures should be made?
-
Which property determines whether a control is available to the user during run time? a. Available b. Enabled c. Unavailable d. Disabled
-
10Games, Inc., is a publicly traded company that makes computer software and accessories. Games's stock price over the last five years is plotted in Figure ST15.1a, Games's earnings per share for the...
-
The National Food Processing Company is considering investing in plant modernization and plant expansion. These proposed projects would be completed in two years, with varying requirements of money...
-
Consider the investment projects given in Table ST 15.3. Suppose that you have only $3,500 available at period 0. Neither additional budgets nor borrowing is allowed in any future budget period....
-
When quarks cooled down enough, what do they make? Group of answer choices Gravity Protons and neutrons Energy Ice
-
Our textbook defines energy as Group of answer choices The force that generates diffusion Something proudced by the nucleus of the cell The ability to cause specific physical and chemical changes A...
-
Why will Galileo be superior to GPS when it is completed and running? Group of answer choices Galileo will be superior to GPS because of its smaller size satellites. Galileo will be superior to GPS...
Study smarter with the SolutionInn App