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

  1. 👍 0
  2. 👎 0
  3. 👁 302

Respond to this Question

First Name

Your Response

Similar Questions

  1. 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

  2. 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

  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

  4. 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

  1. accounting

    jim reed manages a fleet of utility trucks for a rural county government. He's been in his job 30 years, and he knows where the angles are. He makes sure that when new trucks are purchased, the salvage is set as low as possible.

  2. 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,

  3. 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

  4. 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

  1. Principles of Finance

    A five-year project has an initial fixed asset investment of $335,000, an initial NWC investment of $35,000, and an annual OCF of −$34,000. The fixed asset is fully depreciated over the life of the project and has no salvage

  2. 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

  3. 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.

  4. 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,

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