Jared Industries Ltd. presents you with the following information: Instructions Complete the table for the year ended
Question:
Instructions
Complete the table for the year ended December 31, 2015. The company depreciates all assets for a half year in the year of acquisition and the year of disposal.
Transcribed Image Text:
Accumulated Date Residual Life in Depreciation Depreciation to Depreciation Description Purchased Cost Machine A Machine B Aug. 15, 2012 Machine C July 21, 2011 Years MethodDec. 3, 2014 2015 Dec. 2, 2013 $142,500 $16,000 10 $39,900 29,000 21,000 75,400 23,500 5 Straight-line 8 Double- declining- balance
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Methods of Depreciation Description Date Purchased Cost Residual Life Method Accum Depr to 2014 2015 ...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
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Question Posted:
Students also viewed these Accounting questions
-
Different Methods of Depreciation Jeeter Industries presents you with the following information. Complete the table for the year ended December 31, 2011. The company depreciates all assets using the...
-
The Fanta Company presents you with the following account balances taken from its December 31, 2007 adjusted trial balance: Inventory, January 1, 2007 ............. $ 43,000 Selling expenses...
-
An analyst presents you with the following preform a (in millions of dollars) that gives her forecast of earnings and dividends for 2010-2014. She asks you to value the 1,380 million shares...
-
Suppose that the vice president of marketing asks you to write a program to create labels for a onetime advertising promotion. As IT manager, you know that the labels can be prepared more efficiently...
-
Marsha operates an expresso stand. Customers arrive according to a Poisson process at a mean rate of 30 per hour. The time needed by Marsha to serve a customer has an exponential distribution with a...
-
How would you use the principle of weighing up marginal costs and marginal benefits when deciding whether to (a) buy a new car; (b) study for an extra hour? How would a firm use the same principle...
-
Saturated steam at \(356 \mathrm{~K}\) condenses on a vertical tube of diameter \(5 \mathrm{~cm}\) whose surface is maintained at \(340 \mathrm{~K}\). Find the height at which the flow becomes wavy....
-
Mr. O earned an $89,000 salary, and Mrs. O earned a $40,330 salary. The couple had no other income and cant itemize deductions. a. Compute their combined tax if they file separate returns. b. Compute...
-
The following transactions took place in December 2021 at MegaMart. MegaMart follows IFRS and uses the contract-based approach to revenue recognition and a perpetual inventory system. Dec 10 Dec 15...
-
What conditions, externally and internally, would be desired/necessary for a firm to diversify?
-
Jupiter Wells Corp. purchased machinery for $315,000 on May 1, 2013. It is estimated that it will have a useful life of 10 years, residual value of $15,000, production of 240,000 units, and 25,000...
-
Jiang Company Ltd. Purchases equipment on January 1, 2014, for $387,000 cash. The asset is expected to have a useful life of 12 years and a residual value of$39,000.Jiang prepares financial...
-
Contrast U.S. GAAP income statement terms with their differing IFRS terms.
-
A large consumer products conglomerate firm uses a WACC of 8.5% as a hurdle rate across all of its projects. To estimate the cost of equity component of the WACC, the firm uses a five-year regression...
-
Aquatech Microsystems spent $185,000 for a communications protocol to achieve interoperability among its utility systems. The company uses a real interest rate of 12% per year on such investments and...
-
Given the recent activity around crypto currencies such as bitcoin, and alternative payment methods such as m-pesa, wechat pay, and Alibaba pay (see videos), what are the strategic issues for banking...
-
KADS, Inc., has spent $300,000 on research to develop a new computer game. The firm is planning to spend $150,000 on a machine to produce the new game. Shipping and installation costs of the machine...
-
How much must you deposit each year into your retirement account starting now and continuing through year 15 if you want to be able to withdraw $80,000 per year forever, beginning 29 years from now?...
-
Gupta Company maintains a petty cash fund for small expenditures. The following transactions occurred over a two-month period: Instructions a. Journalize the petty cash transactions. b. What internal...
-
Explain the regulation of the secretions of the small intestine.
-
Explain how cash-basis accounting for pension plans differs from accrual-basis accounting for pension plans. Why is cash-basis accounting generally considered unacceptable for pension plan accounting?
-
Explain how cash-basis accounting for pension plans differs from accrual-basis accounting for pension plans. Why is cash-basis accounting generally considered unacceptable for pension plan accounting?
-
Identify the five components that comprise pension expense. Briefly explain the nature of each component.
-
Martinez Company buys merchandise on account from Marigold Company for $592. Martinez sells the goods to Ellis for $900 cash. Use a tabular summary to record the transactions for Martinez Company...
-
The section has tension and compression steel reinforcement. When the neutral axis depth is at infinity, c = , the section is in uniform compression, all points on the section have 0.003 compressive...
-
The Big Choo Choo Company (BCCC) owns a rail line from the town of Isolated to the coastal port of Notso. It cost them $20 million to build the rail line in 2016. It is now 2023. The Small Gold...
Study smarter with the SolutionInn App