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November 26, 2014

Search: An asset is purchased for $50,000. It has an estimated useful life of eight years and salvage value of $6,000

Number of results: 41,799

accounting
How do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but the estimated useful life is unchanged. ...
December 3, 2009 by Peaches

Straight-line Depreciation
Please how do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but the estimated useful life is ...
December 3, 2009 by Peaches

Math
An asset is purchased for$50,000.It has an estimated useful life of 12 years and a salvage value of $5,000. What is the annual depreciation of the asset using the straight-line method?
July 7, 2009 by Kara

Math
An asset is purchased for $50,000. It has an estimated useful life of eight years and salvage value of $6,000.if the asset is depreciated using the double-declining balance method,what are the depreciation expense and book value at the end of year two?
July 9, 2009 by Kara

business math
An asset is purchased for $50,000. It has an estimated useful life of 12 years and a salvage value of $5,00
February 8, 2012 by T.

accounting
On January 1, 2006, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs. Building, 25-year estimated useful life, $4,000,000 cost, $400,000 salvage value Machinery, 10-year estimated useful life, $500,000 cost, no ...
August 2, 2011 by Anonymous

Math
P Inc.purchased a $30,000 asset with a salvage value of$1,200 and an estimated useful life of three years.what is the book value at the end of years one and two using the 150% declining balance method?
July 9, 2009 by Kara

math
Parker Inc. purchased a $30,000 asset with a salvage value of $1,200 and an estimated useful life of three years. What is the book value at the end of years one and two using the 150% declining balance method?
May 10, 2011 by Anonymous

Accounting
I am trying to figure out if I am doing this accounting problem correctly? Old van was purchased 5 years ago at 20,000. estimated life was 5years with salvage value of 5,000. van has to have repairs enging and tranny for 4000 and will extend life of van by 5years. new tires ...
April 22, 2010 by smeffy

accounting
1-On May 1, 2012, Pinkley Company sells office furniture for $150,000 cash. The office furniture originally cost $375,000 when purchased on January 1, 2005. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $37,500. What depreciation ...
February 25, 2013 by miley

programming
3. Your company needs to depreciate its assets. The accountant wants to record the purchase price, the useful life, and the estimated salvage value. Your program should be able to depreciate by the straight-line method. For example, a computer system was purchased for $25,000...
February 15, 2013 by tina

Business Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining blance method. a. $63,750 b. $63,500 c. $63,250 or d. $63,000
June 14, 2013 by LaDonna

Accounting
ABC company purchased machine for $300,000 that had a useful life of 5 years, with a salvage value of $50,000 at the end its life. Depreciation was calculated over 2 years on straight-line basis. In 20X2, it determined that the total life should be 10 years with the salvage ...
November 10, 2012 by Frank

accounting
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years and a legal life of 20 years
July 8, 2011 by stacey

Accounting
A truck was purchased for $25,000. It has a six-year life and a $4,000 salvage value. Using straight-line depreciation, what is the asset’s carrying value (book value) after 2 years?
May 5, 2013 by Harriett

Accounting-HELP ME!
A company purchased machinery for $660,000 on May 1,2008. It is estimated that it will have a useful life of ten years,salvage value of $45,000, production of 350,000 units, and working hours of 60,000. During 2009 the company uses the machinery 3,050 hours, and the machinery ...
September 27, 2011 by Nick

Accounting
Jeff Corporation purchased a limited-life intangible asset for $120,000 on May 1, 2006. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008? $ -0- $24,000 $32,000 $36,000
April 25, 2009 by Bigboy

Accounting
Rich Corporation purchased a limited-life intangible asset for $180,000 on May 1, 2006. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008? $ -0- $36,000 $48,000 $54,000
April 25, 2009 by ESAPROUD

Accounting
On Jan.1, Pedigo Corporation purchased a small company and recorded goodwill of $150,000. its useful life is indefinite. may 1- purchased for 475,000 a patent with an estimated useful life of 5 years and a legal life of 20 years.Prepare adjusting entries at December 31 to ...
November 8, 2014 by Etta

Managerial Accounting
Kim Johnson purchased an asset for $80,000. Annual operating cash inflows are expected to be $30,000 each year for four years. At the end of the life of the asset, Kim will not be able to sell the asset because it will have no salvage value. Required: What is the net present ...
April 13, 2013 by Lisa

accounting
A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000). During the machine's 5-year life its hourly usage...
August 25, 2012 by Dan

Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
November 10, 2009 by Jason

Math
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
November 10, 2009 by Mindy

ashworth
The Tao Inc. purchased an asset for $170,000 with a salvage value of $8,500 have a useful life of four years. Find the depreciation expense for the first year using the 150% declining balance method.
August 3, 2012 by kate

math
A company purchased a truck for $50,000 on July 1, 2009. The truck has an estimated useful life of 5 years and will have no salvage value. It is estimated that the truck can be driven for 150,000 miles. The truck was driven for 18,000 miles during 2009. If the goal is to ...
August 4, 2009 by Anonymous

accounting
James, Inc. discovered that equipment purchased three years ago for $600,000 will not last as long as originally estimated. The firm was depreciating the equipment at the rate of $80,000 per year with an estimated salvage value of $40,000. New estimates indicate that the ...
June 3, 2012 by T Smith

Finance
Dr. David Dunn is adding a new piece of diagnostic equipment to the department. Two similar models are offered by two different vendors, and both models would serve the needs of the clinic. both also have an estimated useful life of five years, with no salvage value at the end...
September 8, 2012 by Linda

Accounting
In 20X0, ABC company purchased machine for $300,000 that had a useful life of 5 years, with a salvage value of $50,000 at the end its life. Depreciation was calculated over 2 years on straight-line basis. In 20X2, it determined that the total life should be 10 years with the ...
November 9, 2012 by Angie

Economics
Given the following data, use present worth analysis to find the best alternative, A,B, or C. A B C Initial cost $10,000 15,000 $12,000 Annual benefit 6,000 10,000 5,000 Salvage value 1,000 −2,000 3,000 Useful life 2 years 3 years 4 years Use an analysis ...
September 30, 2014 by Anonymous

Accounting 2
Can someone help me with this problem. At least get me started so I can figure out how to do this. Your manager, Mr. Smith, has asked you to prepare a report, for a client, based on the following inquiry (see below). This report will be reviewed by Mr. Smith and used to ...
April 22, 2010 by smeffy

financial accounting
eckman company purchased equipment for $80,000 on january 1,2011 and will use the double declining balance method of depreciation. it is estimated that the equipment will have a 5 year life and a $4,000 salvage value at the end of its useful life. the amount of depreciation ...
November 19, 2012 by daniel

Intermediate Accounting
Gerald Engle hart Industries changed room the double-declining balance to the straight-line method in 2008 on all its plant assets. There was no change in the assets' salvage values or useful lives. Plant assets, acquired on January 2, 2005, had an original cost of $1,600,000...
February 7, 2010 by Jeniffer

Finance
Your company is considering a replacement of an old delivery van with a new one that is more efficient. The old van cost $30,000 when it was purchased 5 years ago. The old van is being depreciated using the simplified straight line method over a useful life of 10 years. The ...
June 27, 2011 by Nance

Accounting
1. A manager is considering the following investment: Initial capital investment $180,000 Estimated useful life 3 years Estimated disposal value in 3 years 0 Estimated annual savings in cash operating costs $80,000 Minimum desired rate of return 10% The net present value of ...
December 8, 2012 by Pi

finance
Your company is considering a replacement of an old delivery van with a new one that is more efficient. The old van cost $30,000 when it was purchased 5 years ago. The old van is being depreciated using the simplified straight line method over a useful life of 10 years. The ...
March 21, 2010 by ananoumous

Accounting
Your company is considering a replacement of an old delivery van with a new one that is more efficient. The old van cost $30,000 when it was purchased 5 years ago. The old van is being depreciated using the simplified straight line method over a useful life of 10 years. The ...
March 21, 2010 by ananoumous

Accounting
Janes Company provided the following information on intangible assets: a. A patent was purchased from the lou Company for $700,000 on January 1, 2007. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lou's accounting records at ...
April 6, 2011 by Bobbi Loffredo

Accounting
I need some help with this question… It is confusing me… I have parts of it done but would like someone to help explain it to me. A truck was purchased on January 2 at a cost of $60,000. It’s expected to be used for five years and to have a residual value of $5,000 after 120,...
July 24, 2012 by sady

business
In recent years, Juresic Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Bus Acquired Cost Salvage Value Useful Life ...
November 6, 2010 by vivian

math
In recent years, Juresic Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Bus Acquired Cost Salvage Value Useful Life ...
November 6, 2010 by vivian

business
The ABC Company purchased a solar powered electrical generator on March 9, 2005 for $1.5 million. At that time, it was estimated that the generator would have a useful life of 20 years and a salvage value of $50,000. Over its life span, it was estimated that the generator ...
June 29, 2010 by suman

Financial Accounting
Prepare the general journal entries for the following transactions: Jan 2, 2011 -- Purchased land with a building on it for $750,000. The land is worth $300,000. Paid $150,000 cash down and signed a mortgage payable for the balance. Dec. 31, 2011--Depreciation is computed ...
February 16, 2012 by Diane

accounting
On January 1, 2004, Carnival Shipping bought a machine for $1,500,000. At that time, this machine had an estimated useful life of six years, with no salvage value. As a result of additional information, Carnival determined on January 1, 2007, that the machine had an estimated ...
April 28, 2009 by sasha

Accounting
LRF Corporation purchased a patent for $450,000 on September 1, 2006. It had a useful life of 10 years. On January 1, 2008, LRF spent $110,000 to successfully defend the patent in a lawsuit. LRF feels that as of that date, the remaining useful life is 5 years. What amount ...
April 25, 2009 by Cathie

Finance
Michigan Corporation purchased a new truck on January 1, 2013 for $55,000 cash. Michigan estimated salvage value of $10,000 at the end of the useful life of 5 years. On January 1, 2015 Michigan had to replace the engine of the truck paying $4,500 cash. Due to the replaced ...
December 11, 2012 by Renee

finance
Nucore Company is thinking of purchasing a new candy-wrapping machine at a cost of $370,000. The machine should save the company approximately $70,000 in operating costs per year over its estimated useful life of 10 years. The salvage value at the end of 10 years is expected ...
September 25, 2007 by neil

Managerial Accounting
17.Pid has invested in a machine that cost $70,000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its useful life. It will have a payback period of four...
December 14, 2006 by Dovey

Math
Can someone please help me out with these? What is the rate of inflation of an item with a Consumer Price Index of 246.8 in 1991 and 362.4 in 1992? Round your answer to the nearest tenth. 0.681 0.319 0.468 0.536 Determine the future value of an annuity due into which quarterly...
November 9, 2009 by Cathy

math
a company purchased a lathe with a useful life of 4 years and a salavage value of $5,000.00 if the lathe cost $45,000.00 what is the lathes first year depreciation using the sum-of-the years digits method? would it be $12,000.00
November 5, 2008 by unknown

math please help
a company purchased a lathe with a useful life of 4 years and a salavage value of $5,000.00 if the lathe cost $45,000.00 what is the lathes first year depreciation using the sum-of-the years digits method? would it be $12,000.00
November 5, 2008 by unknown

m
A machine costs $40,000, has a salvage value of $8,000, and is expected to have a useful life of 100,000 hours. I
February 8, 2012 by T.

ACCOUNTING
Same Day Service purchased a new steam press on January 1, for #35,000. It is expected to have a five year useful life and a $3,000 salvage value same day expects to use the steam press more extensively in the early years of its life. 1.Calculate the depreciation expense for ...
August 22, 2009 by yorkie16

accounts
on july 01,2000, asok ltd. purchased a machine for Rs.1,08,000 and spent Rs.12000 on its installation.At the time of purchase it was estimated that the effective commercial life of the machine will be 12 years and after 12 years its salvage value will be Rs.12,000.prepare ...
October 26, 2012 by priyanka

Simple Rate of Return
17.Pid has invested in a machine that cost $70,000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its useful life. It will have a payback period of four...
December 13, 2006 by Help!!!

Accounts
The following details relates to the two machines X and Y: Machine X Machine Y Cost Estimated Life Estimated salvage value Working Capital required in the beginning Rs. 56,125 Rs.56,125 5 years 5 years Rs. 3,000 Rs. 3,000 Rs.10,000 Rs. 20,000 Annual income after tax and ...
October 16, 2010 by Neeraj

accounting
Computer equipment was acquired at the beginning of the year at a cost of $56,000 that has an estimated residual value of $3,000 and an estimated useful life of 5 years. Determine the 2nd year’s depreciation using straight-line depreciation
March 16, 2009 by angel

St. line depreciation & salvage value
A USED CONCRETE PUMPING TRUCK CAN BE PURCHASED FOR 125,000 DOLLARS. THE OPERATING COST ARE EXPECTED TO BE 65,000 DOLLARS AT THE FIRST YEAR & INCREASE BY 5% EACH YAER THEREAFTER. AS A RESULT OF THE PURCHASE, THE COMPANY WILL SEE IN INCREASE IN INCOME OF 100,000 DOLLARS THE ...
February 6, 2010 by rk

St. line depreciation & salvage value
A used concrete pumping truck can be purchased for 125,000 dollars. The operating cost are expected to be 65,000 dollars at the first year & increase by 5% each yaer thereafter. As a result of the purchase, the company will see in increase in income of 100,000 dollars the ...
February 6, 2010 by rk

Finance
Dr. Whitten has decided to purchase equipment that has a cost of $60,000 and will produce a pretax net cash inflow of $30,000 per year over its estimated useful life of six years. The equipment will have no salvage value and will be depreciated by the straight-line method. The...
July 27, 2011 by Juliette

managerial accounting
The expected average rate of return for a proposed investment of $500,000 in a fixed asset, with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $240,000 for the 4 years, is A. 18% B. 48% C. 24% D. 12%
August 22, 2009 by natasha

Help ASAP
pay back, Net present value, and Internal rate of return methods. Nucore company is thinking of purchasing a new candy wrapping nachine $370,000. The machine should save the company approximately $70,000 in operating per year over its estimated useful life of 10 years. the ...
July 25, 2006 by Neena

College Accounting
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round your ...
August 14, 2013 by Mill

Simple Rate of Return
(Ignore income taxes in this problem.) Dum Luk & Stoo Pid has invested in a machine that cost $70,000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its...
December 13, 2006 by Help!!!

Accounting
In 2000, purchased land for $5,600,000 that had a natural resource supply estimated at 4,000,000 tons. When the natural resources are removed, the land has an estimated value of $640,000. The required restoration cost for the property is estimated to be $800,000. Development ...
February 13, 2009 by Cindy

accounting
Calculate the rate of depreciation for the asset with the help of given data.? Cost of the asset Rs1,20,000 Residual value Rs40,000 Expected life 5 years
December 5, 2010 by pinki

college
if the value of machine is 50,000,estimated useful life is eight years and scrap value is 4000 calculate straight line method for 2 years
December 7, 2010 by 123

Engineering Economy
Compare the following alternatives on the basis of their capitalized cost at an interest rate of 10% per year. Petroleum Based Feedstock First cost, $ -250000 Annual operating cost, $/year -130000 Annual revenues, $/year 400,000 Salvage value, $ 50,000 Life,years 6 Inorganic-...
October 1, 2008 by Maria

Math
A firm is evaluating two machines. The first costs $250,000 and will require annual maintenance of $30,000 per year for 10 years. At the end of 10 years, the salvage value will be $75,000. The second machine costs $400,000 and will require $225,000 at the end of the fifth year...
March 14, 2014 by MathHelp

Math
A machine cost $40,000,has a salvage value of $8,000,and is expected to have a useful life of 100,000 hours.if it is utilized for a total of 8,000 hours in year one,what is the depreciation expense based on the unit-of-production-method at the end of the year.
July 9, 2009 by Kara

Math, accounting, investments
A firm is evaluating two machines. The first costs $250,000 and will require annual maintenance of $30,000 per year for 10 years. At the end of 10 years, the salvage value will be $75,000. The second machine costs $400,000 and will require $225,000 at the end of the fifth year...
March 13, 2014 by MathHelp

managerial accounting
Equipment reported in the December 31, 2013, balance sheet was purchased in January 2013. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January...
October 19, 2014 by shirley

accounting-depreciation
state-of-the-art MRI machine to be purchased on 01-01-09 for a cost of $1,250,000 with a useful life of 6 years and an expected salvage value of $35,000. I need to calculate depreciation for the entire 6 year period using SL, SYD, DDB, and MARCS. For SL and SYD, calculate and ...
October 9, 2008 by idk

FInance
Assignment 2: Lease vs. Buy Your employer, Barnaby Well Company, is considering the acquisition of a new drill truck and your boss has asked you to evaluate the decision that she has made to buy the truck. The truck has a purchase price of $60,000 and a useful life of 4 years ...
November 10, 2012 by Deanna

Financial Accounting
Hi, Sorry for this format, it's kind of hard to read, but I'm supposed to journalize these transactions and I can't get June 30th and Dec. 31st to work out correctly. I would greatly appreciate any help. Thanks! Jan. 1 Retired a piece of machinery that was purchased on January...
November 5, 2007 by Jen

Account 2
a light truck is purchased on january 1 at a cost of $27,000. it is expected to serve for eight years and have a salvage value of $3,000. calculate the depreciation expense for the first and third years of the truck
May 18, 2014 by Noreen

accounting 102
Equipment is purchased for $80,000. It has an 8 year useful life and a $39000 residual value. Under the double-declining-balance method, what is the depreciation for year 3? a. 6,000 b. 48,000 c. 11,250 d. 8436 I answered C. The teacher said it's a. 6,000. I have no idea what ...
February 20, 2008 by Ann

Math
A company purchases a new delivery truck for $20,000 the truck is expected to have a useful life of 90,000 miles before replacement,and a salvage value of $2,000.In its first year the truck was driven 22,000 miles and a further 19,000 miles in year two.what is the depreciation...
July 9, 2009 by sally

mathj
Baker Company purchases a new delivery truck for $20,000. The truck is expected to have a useful life of 90,000 miles before replacement, and a salvage value of $2,000. In its first year the truck was driven 22,000 miles, and a further 19,000 miles in year two. What is the ...
February 8, 2012 by tj

Math
A truck costing $25,000 with a residual value of $5,000 was purchased by Rim Corporation. The truck’s estimated life is 10 years. At the end of Year 2, what is the book value using declining-balance method? Assume a depreciation rate of twice the straight-line method
May 1, 2014 by Anonymous

accounting
Quayle Company acquired machinery on January 1, 2002 which it depreciated under the straight-line method with an estimated life of fifteen years and no salvage value. On January 1, 2007, Quayle estimated that the remaining life of this machinery was six years with no salvage ...
April 25, 2009 by Joseycat

business math
A truck costing $25,000 with a residual value of $5,000 was purchased by Rim Corporation. The truck’s estimated life is 10 years. At the end of Year 2, what is the book value using declining-balance method? Assume a depreciation rate of twice the straight-line method.
September 1, 2012 by tracie

Financial accounting 2
If a building cost $600,000, has an estimated residual value of $240,000, has an estimated life of 36 years, and is depreciated by the straight-line method: a) What is the annual depreciation? b) what is the book value at the end of the 20th year?
September 3, 2012 by MAry

accounting
The charter of the corporation authorized 500,000 shares of $5 par common stock, and 50,000 shares of $40 par, 3%, preferred stock. As of January 1, 2014, there were 20,000 shares of common stock issued and outstanding and 4,000 shares of preferred stock issued and outstanding...
August 12, 2014 by Anonymous

accounting
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round your ...
February 28, 2014 by amber

Finance
What's the net present value (NPV) of this replacement project? The old equipment has a book value of $200,000 (year 0) and a current salvage value of $300,000 (year 0). It is being depreciated on a straight-line basis. It has four more years of depreciation left ($50,000 in ...
April 11, 2010 by Herb

Business
What is the net present value (NPV) of this replacement project? The old equipment has a book value of $200,000 (year 0) and a current salvage value of $300,000 (year 0). It is being depreciated on a straight-line basis. It has four more years of depreciation left ($50,000 in ...
April 11, 2010 by Herb

Accounting
A piece of equipment is purchased on May 1, 2007 for $80,000 and has a residual value of $5,000. The equipment's useful life is 8 years or 12,500 hours. It is used 2,700 hours in 2007, and 2,600 in 2008. The question is what is the book value on December 31, 2009 if I use the ...
November 8, 2007 by Mercedes

Financial Accounting
I am so lost on this. I need to prepare adjusting journal entry for this. The truck was acquired on August 1. Franklin estimates the truck will have a useful life of 5 years and no salvage value. The depreciation on the building has already been recorded. In my general ledger ...
May 26, 2011 by gdlola

Accounting
On January 1, 2006, Mythical purchased some office equipment, paying $24,000. It is anticipated that the equipment will last 4 years and have a zero salvage value at the end of the four years. 1) Make the adjusting entry for depreciation at the end of year two using the ...
July 28, 2006 by Laura

Accounting
1. A company acquired some land for $80,000 to construct a new office complex. Legal fees paid were $2,300, delinquent taxes assumed were $3,400 and $5,850 was paid to remove an old building. What is the cost basis for the land? a. $90,600 b. $91,550 c. $88,150 d. $87,200 2. ...
November 5, 2009 by Tom

Finance
(Inflation) A project’s initial investment is $40,000, and it has a five-year life. At the end of the fifth year, the equipment is expected to be sold for $12,000, at which time its net book value will be $5,000. The CFATs (including inflation, depreciation, and net salvage ...
December 17, 2011 by EMJ

accounts
Stuck Stucky purchased a new truck on July 1, 2005 at a cost of $20,000. The truck had a life of 7 years and salvage of $6,000.00. Using the straight-line method, record the following:- 1. The purchase on July 1, 2005 2. The Depreciation for 2005 3. What is the book value of ...
November 25, 2008 by jimmy

Accounting 2
At the beginning of the year, we purchased a generator for $ 56,000. We expect then generator to have a useful life of 12 years, or 60,000 hours. The residual value of the generator at the end of its life is expected to be $ 5,600. We actually used the generator 3,500 hours in...
June 12, 2011 by Sam

Business Maths
Please show me how to calculate this problem: During 2007, Sitter Corporation reported net sales of $2,000,000, net income of $1,200,000, and depreciation expense of $100,000. Sitter also beginning total asset of $1,000,000, ending total asset of $1,500,000, plant asset of $...
December 4, 2009 by Peaches

Finance
Calculate the double-declining balance depreciation schedule for a $2,000 item that will last five years. What is the estimated salvage value?
August 3, 2012 by Heike

finance
Consider a 2 yr project with initial fixed asset investment=$495,000, straight line depreciation to zero over the 2 yr life, zero salvage value, selling price =$39, variable costs=$20. fixed costs=$210,000, quantity sold=150,000 units, tax rate=31%. How sensitive is (OCF) to ...
August 17, 2008 by Tuty

Math
A delivery truck is purchased for $38,000 has a salvage value of $6,000 and is depreciated using MACRS.what is the first-year depreciation expense?
July 9, 2009 by sally

accounting
Alik Amal is a bar in Panama City, Florida. In April 2008, rowdy spring break guests damaged a jukebox that had been purchased in 1995 for $800. The jukebox had a useful life o1 ten years, with an estimated salvage value of $75. Alik AmaI decided to scrap the jukebox after the...
November 23, 2010 by ana

accounting
A new inventory management system for ABC Company could be developed at a cost of $200,000. The estimated net operating costs and estimated net benefits over six years of operation would be: Year Estimated Net Operation Estimated NetBenefits 0 200,000 0 1 7,0000 $ $52,000 2 9,...
August 2, 2010 by YENY

Algebra
A light truck is purchased on January 1 at a cost of $19,000. It is expected to serve for five years and have a salvage value of $1,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods: Depreciation Expense Year ...
August 16, 2013 by Trish

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