A machine with a cost of $52,000 has an estimated residual value of $4,246 and an estimated

Fantastic news! We've Found the answer you've been seeking!

Question:

A machine with a cost of $52,000 has an estimated residual value of $4,246 and an estimated life of 5 years or 16,907 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?

Related Book For answer-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

See More Books

Posted Date: Mar 12, 2024 01:50 AM

See More Questions

1.Which of the following below is NOT an element of internal control? a. risk assesment b. monitoring c. information and communication d. behavior analysis ANSWER:D 2. Which of the following below is...
The Angelus Press Ltd. purchased a machine on January 8, 2014, at a cost of $320,000. It is estimated to have a useful life of 5 years or work for a total of (300,000 hours) and has an estimated...
The table below itemizes several assets. The company uses the double declining balance method to determine depreciation expense, which means that the rate used will be 2 divided by useful life. For...
Select the meso compound in the 1 point choices below: * >OH >H rggrr554 CH,OH CH,OH ffffhfghgt
True or False. All dividend income received by a U.S. taxpayer is classified as passive category income for foreign tax credit limitation purposes. Explain.
1. What is the distinction between a network and an internet? 2. Give two examples of client-side activities on the Web. Give two examples of server-side activities on the Web. 3. Protocol layering...
Mrs. Clarks Foods was an Iowa company engaged in the business of distributing juice beverages. International Suntrade and Miller & Smith Foods were Canadian companies that acted as brokers...
Retail Inventory Method Presented below is information related to Kuchinsky Company. Compute the inventory by the conventional retail inventory method. Retail Cost Beginning inventory Purchases...
Cash Receipt Schemes and Other Asset Misappropriations, identify and describe two big data and data analytic techniques each for detecting skimming, cash larceny, and noncash misappropriations.
Let k be a real number and P(x) = 9x + 3kx2x - (k-3)r - 2. (a) Find all values of k such that (3x - 2) is a factor of P(x).
Compare the process for economic airline deregulation in the US, European Union, and China.
Why is airfare per mile flown much less for long international flights than on a regional airline flight from a small city to a nearby FSNC hub?
In negotiations with the US to obtain a single air transportation agreement, the EU has proposed eliminating or significantly reducing the restrictions on citizenship and cabotage. What are these...
What were the arguments for and against deregulation? What other industries have been deregulated?
Curiously, in the three largest airline markets, the US, EU, and China, there are three dominant full- service network carriers or airline groups. Who are these FSNCs in each market?
A ring of charge with radius 0.5 m has gap of width 0.002 TEm. If the ring carries a charge of 3.14HC, the electric field at the centre of the ring is nearly 226 NC 154 NC- 3756 NC- 624 NC
Suppose you are comparing just two means. Among the possible statistics you could use is the difference in means, the MAD, or the max min (the difference between the largest mean and the smallest...
Laser Cast, Inc., manufactures color laser printers. Model A200 presently sells for $400 and has a total product cost of $320, as follows: Direct materials $230 Direct labor 60 Factory overhead 30...
The market price for Microsoft Corporation closed at $29.86 and $35.60 on December 29, 2006, and December 31, 2007, respectively. The dividends per share were $0.37 for 2006 and $0.41 for 2007. (a)...
On July 1, 2010, Brower Industries, Inc. issued $32,000,000 of 10-year, 12% bonds at an effective interest rate of 13%, receiving cash of $30,237,139. Interest on the bonds is payable semiannually on...
The textbook states that "data is a resource that must be controlled and managed." Explain this statement, and indicate whether you agree of not, and why.
Why do conventional files tend be have duplication of data?
One of the dealership's legacy stand-alone systems in the preceding exercise is the salesperson work schedule system. This system was developed in the 1980 s on a single $P C$, using BASE III, to...

A machine with a cost of $52,000 has an estimated residual value of $4,246 and an estimated

Question:

Expert Answer:

The doubledeclining balance DDB method accelerates depreciation in the early years of an assets life Heres how to calculate the depreciation for the s... View the full answer

Accounting

Students also viewed these accounting questions