Calculate the book value of a two-year-old machine that cost $200,000, has an estimated residual value of
Question:
Calculate the book value of a two-year-old machine that cost $200,000, has an estimated residual value of $40,000, and has an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1 and 8,000 hours in year 2.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
Machinery original cost Accumulated Depreciation at end of third ...View the full answer
Answered By
Vikash Gupta
I am graduated in Physics in 2018, from KIRORIMAL COLLEGE, University of Delhi. Now I am persuing Master's degree in physics. I like to do physics problems. I have experience of 1 year in tutoring. I think Physics is the only subject where you understand things,how they are happening . In physics you learn Maths and apply it. So I would like to join your platform to solve many Physics problems.
5.00+
5+ Reviews
10+ Question Solved
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
Question Posted:
Students also viewed these Business questions
-
A machine that cost $ 400,000 has an estimated residual value of $ 40,000 and an estimated useful life of four years. The company uses straight- line depreciation. Calculate its book value at the end...
-
A machine that cost $ 400,000 has an estimated residual value of $ 40,000 and an estimated useful life of 20,000 machine hours. The company uses units- of- production depreciation and ran the machine...
-
A machine that cost $ 400,000 has an estimated residual value of $ 40,000 and an estimated useful life of four years. The company uses double- declining- balance depreciation. Calculate its book...
-
choess answaer that How many bits are required to store one BCD digit?" 2 8 1 Kilo bits are equal to 1000 bits 1024 bits 1012 bits 1008 bits The function of the encoder is to convert coded...
-
Calculate the energy of one mole of photons of red light ( = 700 nm).
-
Find a function v(t) which decays exponentially from 5 V at t = 0 to 1 V at t = with a time constant of 3 s. Plot v(t) using the technique of Example 6.20. Data from Example 6.20 Draw an approximate...
-
A project has been selected for implementation. The net cash flow (NCF) profile associated with the project is shown below. MARR is 10 percent/year. a. What is the internal rate of return of this...
-
Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partially...
-
Even method: 1- Algorithm Compare between recursion and iteration 2- Memory representation (Ex: EVEV (0,10)) recursion iteration
-
The data identified below was listed in a projects latest status report: BCWS = $36,000 BCWP = $30,000 ACWP = $33,000 BAC = $120,000 Original length of the project 10 months Using these data,...
-
Casting Crown Construction entered into the following transactions during a recent year: January 2 Purchased a bulldozer for $200,000 by paying $20,000 cash and signing a $180,000 note January 3...
-
Refer to the information in E9-4. Data From E9-4. Wiater Company operates a small manufacturing facility. On January 1, 2017, an asset account for the company showed the following balances:...
-
What items related to inventory may need to be estimated?
-
If r RF = 5%, r M = 11%, and b = 1.6 for Stock X, what is r x , the required rate of return for Stock X?
-
In budgeting for each expense category, a sales manager should attempt to Question 26 options: set the budget at the lowest possible level. determine the lowest expenditure level necessary to achieve...
-
Is the July salary for its store manager an administrative expense?2.What about payment of utility services for June and July?3.What about a post-filing bonus to the store manager paid on December...
-
Given Grant's AGI of $30,000, we'll assume the loss occurred in the current tax year. Let's calculate the casualty loss deduction without insurance proceeds: Decrease in FMV: Minus: Insurance...
-
If you were the lead analyst for LGM, how would you determine the requirements? Be specific in your answer. List several questions you need answered. Artif. Intell. Med., 56 (3) pp. 137-156, Link:...
-
Rajiv Company has completed all of its operating budgets. The sales budget for the year shows 50,000 units and total sales of $2,250,000. The total cost of making one unit of sales is $25. It...
-
Subprime loans have higher loss rates than many other types of loans. Explain why lenders offer subprime loans. Describe the characteristics of the typical borrower in a subprime consumer loan.
-
Refer 2-5. a. Purchased $ 216 in equipment; paid by signing a $ 5 long- term note and fulfilling the rest with cash. b. Issued $ 21 in additional common stock for cash contributions made by...
-
Mulkeen Service Company, Inc. was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year: a. Received $ 60,000 cash from the managers; each was...
-
Home Comfort Furniture Company completed four transactions with the dollar effects indicated in the following schedule: Required: 1. Write a brief explanation of transactions (1) through (4). Explain...
-
Sully Corp. currently has an EPS of $2.24, and the benchmark PE ratio for the company is 22. Earnings are expected to grow at 8 percent per year. What is your estimate of the current stock price? (Do...
-
Two ice skaters, Daniel (mass 70.0 kg) and Rebecca (mass 45.0 kg), are practicing. Daniel stops to tie his shoelace and, while at rest, is struck by Rebecca, who is moving at 12.0 m/s before she...
-
A gymnast of mass 5 2 . 0 kg is jumping on a trampoline. She jumps so that her feet reach a maximum height of 2 . 1 6 m above the trampoline and, when she lands, her feet stretch the trampoline 6 5 ....
Study smarter with the SolutionInn App