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.

  1. 👍 0
  2. 👎 0
  3. 👁 156

Respond to this Question

First Name

Your Response

Similar Questions

  1. filipino

    halimbawa ng tunggalian 5 halimbawa ng tao laban sa tao 5 halimbawa ng tao laban sa sarili 5 halimbawa ng tao laban sa lipunan 5 halimbawa ng tao laban sa kalikasan

    asked by ai on November 10, 2014
  2. 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).

    asked by Dan on August 25, 2012
  3. 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

    asked by Peaches on December 3, 2009
  4. 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

    asked by Bobbi Loffredo on April 6, 2011
  1. Accounting

    Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semi-annually. The journal entry to record the receipt of interest on the next

    asked by Mike on June 9, 2013
  2. Finance

    Your firm is considering leasing a new computer. The lease lasts for 9 years. The lease calls for 10 payments of $1,000 per year with the first payment occurring immediately. The computer would cost $7,650 to buy and would be

    asked by marvin on August 16, 2010
  3. Finance

    Newdex has net income of $2,500,000 and 1,000,000 shares outstanding. It needs to raise $3,610,000 in funds for a new asset. Its investment banker plans to sell an issue of common stock to the public for $40 per share, less a

    asked by Samantha on May 14, 2010
  4. Principles of Accounting

    E2-2 Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $10,000 cash in the business in exchange for common stock. 3 Purchased used car for $4,000

    asked by Wendy on January 21, 2010
  1. acce

    A car was purchased for $10,000 with a salvage value of $4000. It is expected to have a useful life of 5 years. Using the sum-of-years method, find the car's value in the first year after the purchase.

    asked by Anonymous on December 5, 2017
  2. Engineering Economics

    A granary has two options for a conveyor used in the manufacture of grain for transporting, filling, or emptying. One conveyor can be purchased and installed for $70,000 with $3,000 salvage value after 16 years. The other can be

    asked by Anonymous on March 27, 2015
  3. Accounting 220

    On January 1, 2014, Muoy Machining Co. purchased a compressor and related installation equipment for $72,500. The equipment had a three-year estimated life with a $12,500 salvage value. Straight-line depreciation was used

    asked by karen on April 30, 2016
  4. 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,

    asked by Anonymous on August 2, 2011

You can view more similar questions or ask a new question.