A micro-brewery is purchased for $765000. The amount for land is estimated at $225,000 What is the

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

Question:

A micro-brewery is purchased for $765000. The amount for land is estimated at $225,000 What is the $ amount of the annual depreciation allowance?

Related Book For answer-question

Intermediate accounting

ISBN: 978-0077647094

7th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

See More Books

Posted Date: Feb 23, 2024 06:02 AM

See More Questions

You are doing the audit of the UTE Corporation for the year ended December 31, 2016. The following schedule for the property, plant, and equipment and related allowance for depreciation accounts has...
The Bigfork Company is a retail company that began operations on January 1,2018. The Bigfork Company is authorized to issue 1,000,000 shares of P10 par value ordinary share and 500,000 shares of 3%,...
Patagonia uses several certification programs in their sourcing decisions to assure their supply chain traceability and transparency. Select 2 of the certifications they use and why are they so...
The preferred stock of Walter Industries Inc. currently sells for $36 a share and pays $2.50 in dividends annually. What is the firms cost of capital for the preferred stock?
Explain how bond prices may be affected by money supply growth, oil prices, and economic growth.
From the perspective of a stock analyst, discuss why the statement of cash flows may or may not be more important than the statement of income when analyzing a company to make a recommendation about...
Assume we have a non-dividend-paying stock governed by the stochastic differential equation $\mathrm{d} S_{t}=\mu S_{t} \mathrm{~d} t+\sigma S_{t} \mathrm{~d} z_{t}$ and a risk-free asset carrying...
Kimble and Sanchez, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been...
Calculating Present Values Imprudential, Inc., has an unfunded pension liability of $645 million that must be paid in 25 years. To assess the value of the firm's stock, financial analysts want to...
Ziggy's Inc. is a retailer of highly specialized clothing that opened for business on May 1, 2014, in a leased store in a strip mall. A condensed income statement for Ziggy's Inc. for its year, ended...
1. How do the interventions designed to help organizations generate positive social, environmental, and economic outcomes differ from other OD interventions that focus on the achievement of economic...
When managers try to avoid hearsay and make decisions based on solid facts and information, this is known as ____________. (a) continuous improvement (b) evidence-based management (c) TQM (d) Theory...
What term is used to describe the worlds supply of natural resources, things like land, water, and minerals? (a) sustainable development (b) global warming (c) climate justice (d) environmental...
Work preferences of different generations and public values over things like high pay for corporate executives are examples of developments in the ____________ environment of organizations. (a) task...
The benefits of planning include __________. (a) improved focus (b) lower labour costs (c) more accurate forecasts (d) higher profits
It is ____________ when a foreign visitor takes offence at a local custom such as dining with ones fingers, considering it inferior to practices of his or her own culture. (a) universalist (b)...
If sales totaled $592,088 for the current year (84,584 units at $7 each) and planned sales totaled $831,710 (75,610 units at $11 each), the effect of the unit price factor on the change in sales is a?
Use the formula to determine the value of the indicated variable for the values given. Use a calculator when one is needed. When necessary, use the key on your calculator and round answers to the...
On June 30, 2013, Papa Phil Inc. leased 200 pizza ovens for its chain of restaurants from IC Leasing Corporation. The lease agreement calls for Papa Phil to make semiannual lease payments of $562,907...
Wardell Company purchased a minicomputer on January 1, 2011, at a cost of $40,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated...
During 2013, Rogue Corporation reported sales revenue of $600,000. Inventory at both the beginning and end of the year totaled $75,000. The inventory turnover ratio for the year was 6.0. What amount...
The following data from Lyre Ltd's accounts relates to two assets at 30 June 2023. At 30 June 2023 Lyre Ltd decides to adopt the revaluation model for both these assets. On this date land has a fair...
On 1 January 2023, Blue Jay Ltd revalued land from $\$ 300000$ to $\$ 500000$. On 1 January 2024, the company subsequently revalued the land to $\$ 420000$. And on 1 January 2025 , the company...
Seagull Ltd purchased land for use as its corporate headquarters. A small factory that was on the land when it was purchased was torn down before construction of the office building began....

A micro-brewery is purchased for $765000. The amount for land is estimated at $225,000 What is the

Question:

Expert Answer:

If the land is not depreciable we subtract its value from the total purch... View the full answer

Intermediate accounting

Students also viewed these finance questions