On January 24th, the Korab Inc. acquired a new packing machine for the production line with...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On January 24th, the Korab Inc. acquired a new packing machine for the production line with an estimated useful life of ten years. The price of the machine was $150,000. Transportation costs were $6,000 and Transportation Insurance was $4,000 as well as Maintenance Cost are $5,000 per year. Instruction: (show your calculations and round to 2 decimal places) Using the 200% Declining Balance Method, (a) what is the carrying amount of the machine ending of year "Three"? (b) how high is the Depreciation Expense in Dollars in year "Four"? (c) what is the carrying amount of the machine beginning of year "Seven"? Explain your result! On January 24th, the Korab Inc. acquired a new packing machine for the production line with an estimated useful life of ten years. The price of the machine was $150,000. Transportation costs were $6,000 and Transportation Insurance was $4,000 as well as Maintenance Cost are $5,000 per year. Instruction: (show your calculations and round to 2 decimal places) Using the 200% Declining Balance Method, (a) what is the carrying amount of the machine ending of year "Three"? (b) how high is the Depreciation Expense in Dollars in year "Four"? (c) what is the carrying amount of the machine beginning of year "Seven"? Explain your result!
Expert Answer:
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
Students also viewed these accounting questions
-
Financial statement data for the years ended December 31 for Dovetail Corporation are shown below. a. Determine the earnings per share for 2014 and 2013. b. Does the change in the earnings per share...
-
Financial statement data for the years ended December 31 for Black Bull Inc. are shown below. a. Determine the earnings per share for 2014 and 2013. b. Does the change in the earnings per share from...
-
Financial statement data for the years ended December 31 for Blum Company are shown below. a. Determine the accounts receivable turnover for 2015 and 2014. Round to one decimal place. b. Determine...
-
On December 31, 2021, there is a batch of commodities sold under FOB destination conditions in the shipping area, and this batch of commodities is not included in the inventory count middle. There is...
-
Helen Jarvis wants to determine the most important customers for Home Office products. She requests a listing of total dollar sales year-to-date for each customer who bought these products, as...
-
Are the following functions analytic? Use (1) or (7). f(z) = 1/(z - z 5 )
-
Using the density function of the stopping time probability for a fixed \(\lambda\), find the average time to the first event over the entire interval \([0, \infty)\).
-
1. What options are available to Nils? 2. What would you do and why? On December 26, 2004, an earthquake reaching 9.1 on the Richter scale triggered a series of devastating tsunamis off the coast of...
-
a)Name and explain the major Components of a production system E D (6 marks) A 1 B 3 4 4 C Figure 2: Transversing a graph of a travelling salesman b) Use the nearest neighbour heuristic to find the...
-
The COVID-19 pandemic affected companies in the food industry in unique ways, particularly during 2020. Ruth's Hospitality Group (Ticker: RUTH) develops and operates fine dining restaurants under the...
-
Question 6 How many terms of the series 00 (-25)" 1+ 2" Not yet answered n=1 Marked out of 5 are needed to compute the sum of the series with an error less than 0.025? (In the P Flag question...
-
Which route of administration brings on a cocaine "rush" the fastest? O dermal patch O rectal suppository O swallowing a pill or tablet OIV administration smoking
-
17.2B The reaction 2NO(g) + Br2 (g) = 2NOBr (g) has a Ko value of 1.3 x 10-2 at 1000 K. Calculate K. for the following reactions: (a) 4NOBr (g) = 4NO (g) + 2Br2 (g) (b) NO(g) + Br (g) = NOBr (g)
-
5. A rigid square sheet of glass of side 1 metre is supported at its corners on four identical stiff linear-elastic springs. A 100 N vertical force is applied to the plate at the location shown in...
-
Decide if the following substances are elements, compounds, or mixtures. Au A: Element B: Compound OC: Mixture copper A: Element OB: Compound OC: Mixture salt and pepper A: Element B: Compound OC:...
-
A boundary layer grows on the wall of a wind tunnel test section, downstream of some flow straightening honeycomb. The boundary layer that develops on the wall is measured to be laminar, and of...
-
5. If Vs=20V and V = 5V, use KVL to find V. 96 B- 20 R2R3 R4 (10 points) 6. If R1 = 692, and R2 = R3 = R4 = 1202, find RAB (the total resistance between A and B). (20 points) RI A-WW 5V
-
Which of the following raises the credibility of areport? Which of the following raises the credibility of a report? Multiple Choice avoiding predictions avoiding the use of cause-effect statements...
-
Differentiate between a profit center and an investment center.
-
On September 1, 2010, Longstreet Company purchased $150,000 of 20-year, 6%, Marvin Company bonds at 97, including the brokerage commission. September 1 is an interest payment date. (a) Journalize the...
-
A company manufactures various sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $52 per unit (1,000 bottles), including fixed costs of $15 per unit. A...
-
A 1.0-cm-diameter sphere is charged to a potential of \(3400 \mathrm{~V}\). How much charge is on the sphere?
-
a. What is the potential difference between the terminals of an ordinary AA or AAA battery? (If you're not sure, find one and look at the label.) b. An AA battery is connected to a parallel-plate...
-
\(\mathrm{A}+25 \mathrm{nC}\) charge is at the origin. How much farther from the charge is the \(2000 \mathrm{~V}\) equipotential surface than the \(3000 \mathrm{~V}\) surface?
Study smarter with the SolutionInn App