Time left 0:17:44 On 1/7/2015, ABC Company purchased a machine for $52,000. The company expects to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Time left 0:17:44 On 1/7/2015, "ABC" Company purchased a machine for $52,000. The company expects to use the machine a total of 24,000 hours over the next 8 years. The estimated salvage value of the machine at the end of 8 years is $6,000. If the company used the machine 10,000 hours in 2015, 9,000 hours in 2016, and 9,000 hours in 2017. What is the depreciation expense for 2017 if the company uses double-declining-balance depreciation? Answer: Time left 0:17:44 On 1/7/2015, "ABC" Company purchased a machine for $52,000. The company expects to use the machine a total of 24,000 hours over the next 8 years. The estimated salvage value of the machine at the end of 8 years is $6,000. If the company used the machine 10,000 hours in 2015, 9,000 hours in 2016, and 9,000 hours in 2017. What is the depreciation expense for 2017 if the company uses double-declining-balance depreciation? Answer:
Expert Answer:
Answer rating: 100% (QA)
The correct answer is 8531 Calculation Firstly we ha... View the full answer
Related Book For
Legal Research Analysis and Writing
ISBN: 978-1133591900
3rd edition
Authors: William H. Putman, Jennifer Albright
Posted Date:
Students also viewed these accounting questions
-
What section sets out the elements of false imprisonment? What are the elements of false imprisonment? Is a person liable if he or she unintentionally causes the confinement of another? What section...
-
What is a key difference between binomial and Poisson distributions? The binomial distribution deals with discrete data; Poisson is a continuous distribution. The binomial distribution is a...
-
Which of the following is NOT a key difference between financial and performance audits? Financial statement audits focus on the entity as a whole whereas performance audits generally focus on a...
-
On January 1, 2014, Iron Mountain Ski Corporation purchased a new snow-grooming machine for $50,000. The machine is estimated to have a 10-year life with a $2,000 salvage value. What journal entry...
-
For each of these productschocolate bars and cerealsdescribe how marketers can apply their knowledge of differential threshold to packaging, pricing, and promotional claims during periods of (a)...
-
Defendant, Gray Communications, desired to build a television tower. After a number of negotiation sessions conducted by telephone between the Defendant and Plaintiff, Kline Iron, the parties...
-
Explain several implications of IFRS on financial reporting by health care organizations.
-
The Mobile Oil company has recently acquired oil rights to a new potential source of natural oil in Alaska. The current market value of these rights is $90,000. However, if there is natural oil at...
-
An object moved on the xaxis from point A to point B, turned around and moved to point C in 2 seconds. Assume direction towards the right as the positive direction. The coordinates of A, B, and C are...
-
The Candy Co. of Lethbridge pays its workers twice each month. Data for the two pay periods on June, are shown below: Union dues must be remitted to the union treasurer by the 15th of the following...
-
1. Write the nodal equations. 2. Solve for the node voltages. 3. Find the value of the source current I.
-
An ala carte restaurant serves a variety of cuisines from three different regions. The food from different regions involve both common and specific materials (e.g. vegetables, meat, and spices) and...
-
Use a search engine (Business Source Complete is provided in my DHA) to explore commonly recognized forms of bias within the realm of research and academia. Numerous types of bias have been...
-
I have to estimate the budget for social media marketing as an air Canada manager for different campaign. Just give me some social media marketing campaign with the cost it took.
-
Explain the biggest mergers that have taken place throughout the airline industry and a few of the complexities that came along with these acquisitions.
-
Porter's Five Forces focus on competitive forces that affect an organization. In many industries, including the healthcare industry, there are complementary products and services that add value to...
-
Create the physical design for your final project database (tables, fields, relationships, constraints, default values, and indexes). Generate (dump) an SQL script with your completed physical...
-
Show that, given a maximum flow in a network with m edges, a minimum cut of N can be computed in O(m) time.
-
What was the topic of the Federal Reserve notice issued on January 2, 2004
-
Correct the following sentences by properly using colons and semicolons. The courts instructions to the respondent are: to refrain from contacting the plaintiff in person, by telephone, or by mail;...
-
If Husband and Wife are legally separated, can Wife voluntarily testify concerning the conversation? Why or why not?
-
If 25 women are randomly selected, find the probability that the mean of their red blood cell counts is less than 4.444. Assume that red blood cell counts of women are normally distributed with a...
-
Find the probability of an IQ less than 85.
-
What percentage of women have red blood cell counts in the normal range from 4.2 to 5.4? Assume that red blood cell counts of women are normally distributed with a mean of 4.577 and a standard...
Study smarter with the SolutionInn App