Lena Horn bought a Toyota Tundra on January 1 for $30,000 with an estimated life of 5 years. The residual value of the truck is $5,000. Assume a straight-line method of depreciation. a. What will be the book value of

30,406 results
  1. accounting

    On October 31, a flood at Payne Company’s only warehouse caused severe damage to its entire inventory. Based on recent history, Payne has a gross profit of 25 percent of net sales. The following information is available from Payne’s records for the 10

  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 $24,000 but the estimated

  3. Business Math

    Lena Horn bought a Toyota Tundra on January 1 for $30,000 with an estimated life of 5 years. The residual value of the truck is $5,000. Assume a straight-line method of depreciation. a. What will be the book value of the truck at the end of year 4? b. If

  4. accounting

    Ron's Quik Shop bought machinery for $25,000 on January 1, 2010. Ron estimated the useful life to be 5 years with no residual value, and the straight-line method of depreciation will be used. On January 1, 2011, Ron decides that the business will use the

  5. accounting

    On oct 15, 2014 a fire destroyed all the stock of equipment of modern Equipment Center in its rented stockroom. The records of the firm show the following information 2020 2019 2018 2017 Sales P925,000 P880,000 P790,000 P710,000 Cost of sales 758,500

  6. 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

  7. accounting

    On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of $300,000. Also during January, the company collected $240,000 from its

  8. Accounting

    On January 2, 2019. Konrad Corporation acquired equipment for $500,000. The estimated life of the equipment is 5 years or 18,000 hours. The estimated residual value is $14,000. If Konrad Corporation uses the units of production method of depreciation, what

  9. 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,

  10. math

    Lena bought a total of 20 postcards. She bought 6 more large poscards than small. Write a system of equations that represents the postcards Lena purchased. Solve the system by substitution. Interpret the solution.

  11. 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

  12. accounting

    Eckman Company purchased equipment for $420,000 on January 1, 2016, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 5-year life and a $2,000 salvage value at the end of its useful life. The

  13. math

    using problem 17-21 calculate the first 2 years depreciation assuming the units of production method. this machine is expceted to produce 120,000 units. in year 1 it produced 19,000 units and in year 2 38,000 units problem 17-21 Jim company bought a

  14. 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

  15. 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

  16. managerical accounts

    (ignore income taxes in this problem)the following data pertain to an investment proposal: cost of the investment $30,000 Annual cost saving 9,000 estimated salvage value 4,000 life of the project 5 years discount rate 12% Which is the net present value of

  17. 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.

  18. ecosystems

    Hi, can someone help me? What land biome has the lowest humidity? I guess Tundra. A tundra if I'm not mistaken. There were 4 answers: tundra temperate forest grassland rainforest

  19. 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,

  20. Accounting

    Problems: Please show all calculations. Claudette, Inc., provides warranties for many of its products. The January 1, 2014, balance of the Estimated Warranty Liability account was $38,500. Based on an analysis of warranty claims during the past several

  21. 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

  22. math

    Lena Horn bought a Toyota Tundra for $30,000 with an estimated life of 5 years. The residual value of the truck is $5,000. Assume a straight line method of depreciation (a) what will be the book value of the truck at the end of year 4 (b) If tyhe chevy

  23. Accounting

    On 2015 January 1, Jackson Company purchased equipment for $440,000. The equipment has an estimated useful life of 10 years and an estimated salvage value of $40,000. If Jackson uses the straight-line depreciation method, what is the depreciation expense

  24. 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

  25. Accounting

    Rexford Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inventories at the beginning and end of the month of January. January 1 January 31 Finished goods $126,000 $117,000 Work in process

  26. English II

    The question is: my neighbors across the street have a new car; it's a toyota. Answers: (a) My, Street, Toyota (b) My (c) My, Toyota (d) My Neighbors, Street, Car, Toyota Now I had to choose which words to capitalize and my answer was (c)... am I correct?

  27. Statistics

    Through extensive research, Metlife Insurance claims that the mean footwell intrusions for Toyota Corrola and Toyota Rav4 are equal. Crash test at 40mph were performed at 7 randomly selected Toyota Corrola and 13 randomly Toyota Rav4s selected. The amount

  28. Math

    Katy just brought a brand-new 2009 Toyota Camry Hybrid FOR $30,000. Her car was traded in for $16,000. What fraction of the purchase price was not covered by the trade-in? 30,000 -16,000 = $14,000.is the amount not covered. Can you tell me what method to

  29. physics - motion/kinematics

    a physics student ‘borrows’ a sports car for a joy ride and discovers that it can accelerate at a rate of 4.90 m/s2. He decides to test the car by challenging Mr. Horn and his motorcycle. Both start from rest, but the student is so confident in his new

  30. Check for mistakes plz

    The Tundra is a biome that can be found around the arctic circle. The Tundra includes northern Asia, North America, and Greenland. The word Tundra is from the finnish word for barren or treeless land. The Tundra has very poor soil due to permafrost,

  31. accounting

    The capital expenditures budget shows that Valley must purchase $50,000 of equipment on January 1 to establish the new center. Valley will pay for the equipment on January 31. The equipment is expected to have a 8-year useful life and a $2,000 salvage

  32. finance accounting

    Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. kSH.000 Account payables 15,800 equipment 46,000 motor vehicles 25,160 Account receivable 23,080 Cash at bank 29,120 cash in hand

  33. accounting

    A machine costing $85,000 with a 5-year life and $5,000 residual value was purchased January 2, 2011. Computed depreciation for the first year, using the double declining-balance(DDB) method would be what?

  34. Accounting - need guidance

    On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 cash on January 1, 2012, and signed a $900,000 note bearing interest at 10%. The

  35. Maths - Linear Programming

    Hey, I'm having trouble formulating this as a linear program. If anyone could help at all it would be much appreciated. Thanks A manufacturer has contracted to produce 2,000 units of a particular product over the next eight months. Deliveries are scheduled

  36. Math

    How much will be the value of a house that was bought 9 years ago? X Y 0 100,000 1 105,000 2 107,000 3 110,000 4 115,000 5 120,000 6 123,000 7 126,000 8 ? 9 ? 10 ?

  37. 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

  38. Math

    Lena Horn bought a Toyota Tundra for $30,000 with an estimated life of 5 years. The residual value of the truck is $5,000. Assume a straight line method of depreciation (a) what will be the book value of the truck at the end of year 4 (b) If the chevy

  39. 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

  40. 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

  41. 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

  42. 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

  43. accounting

    On January 1, 2013, an investor purchases 28,000 common shares of an investee at $12 (cash) per share. The shares represent 20% ownership in the investee. The investee's common stock does not have a readily determinable fair value. On January 1, 2013, the

  44. 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

  45. 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

  46. 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

  47. math

    using problem 17-21 calculate the first 2 years depreciation assuming the units of production method. this machine is expceted to produce 120,000 units. in year 1 it produced 19,000 units and in year 2 38,000 units problem 17-21 Jim company bought a

  48. Finance

    Firm is contemplating the purchase of a new warehouse inventory management system which will cost 3,600,000 at the end of its 8 year life. The warehouse management system will be depreciated straight line to 300,000 over its 8 year life. It is estimated it

  49. English

    Can someone please proof read this? In A Raisin in the Sun, Lena Younger is the nurturing, ethical character who keeps the Younger family in line. First of all, Lena is a caring mother. For instance, when Walter runs away from his family because no one

  50. Physics

    A train sounds its horn as it approaches an intersection. The horn can just be heard at a level of 42 dB by an observer 10 km away. (a) What is the average power generated by the horn? W (b) What intensity level of the horn's sound is observed by someone

  51. math

    Lena plans to fill her 22-cm cube to within 2 cm of the top.How many cubic centimeters of dirt will Lena need?

  52. Finance

    The Victoria Nursery, which provides facilities for pre-school children on a commercial basis, is preparing its cash budget for next year. A profile of the estimated revenues and expenses for the first four months of the year is as follows: Jan Feb Mar Apr

  53. physics

    John is listening to a horn. He knows the frequency of the horn is 300 Hz when both he and the horn are at rest. If he hears a pitch of 330 Hz, there are clearly several possibilities. For each of the following statements, indicate whether it is correct or

  54. 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

  55. Advance Accounting

    On January 1, 20X1, Parent Company acquired 80% of the common stock of Subsidiary Company for $560,000 On this. date Subsidiary had total owners' equity of $540,000, including retained earnings of $240,000. During 20X1, Subsidiary had net income of $60,000

  56. Physics URGENT!!!

    A train sounds its horn as it approaches an intersection. The horn can just be heard at a level of 59 dB by an observer 14 km away. (a) What (b) What intensity level of the horns sound is observed by someone waiting at an intersection 46 m from the train?

  57. 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?

  58. accounting-fory

    On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 cash on January 1, 2012, and signed a $900,000 note bearing interest at 10%. The

  59. Science help

    identify the terms or phrases that are paired together correctly a. deserts and dwarf trees b. temperate and deciduous forest and evergreen trees c. subarctic taiga and moss d. tundra and permafrost (my answer) In which bione would you find the main types

  60. 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

  61. Corporate Finance

    Your firm is looking at 3 projects, each costing $500,000: A is estimated to save $125,000 per year for 5 years; B is estimated to save $75,000 for 6 years plus generate tax savings of $20,000 per year; C is estimated to save $75,000 per year for 10 years

  62. 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.

  63. Accounting

    O'Neill Co. has $296,000 in accounts receivable on January 1. Budgeted sales for January are $860,000. O'Neill expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale

  64. 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

  65. accounting

    On January 2, 2019, Konrad Corporation acquired equipment for $500,000. The estimated life of the equipment is 5 years or 18,000 hours. The estimated residual value is $14,000. If Konrad Corporation uses the straight line method of depreciation, what will

  66. 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

  67. accounting

    I need HELP in journalizing the following please: February 1 Paid $3,750 accounts payable balance due to a supplier. March 15 Received $2,500 partial payment on a $5,000 accounts receivable balance. Wrote off the rest of the account as uncollectible. April

  68. 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

  69. 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

  70. 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

  71. 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?

  72. accounting

    JKL Company purchased a car for $21,000 on January 1, 2016. The vehicle is estimated to have a useful life of 10 years, at which point it will have a residual value of $1,000. JKL Company uses the straight-line method to account for depreciation. What is

  73. Public Financial Management

    Analyze the following scenario: The Hospital for Ordinary Surgery uses pharmaceuticals for its patients. It started the year on January 1, with an inventory of 1,000 doses of an antibiotic drug that cost $17 per dose. On January 2, it purchased another 300

  74. science

    The Tundra is a biome that can be found around the arctic circle. The Tundra includes northern Asia, North America, and Greenland. The word Tundra is from the finnish word for barren or treeless land. The Tundra has very poor soil due to permafrost,

  75. 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

  76. math

    Wilson buys pizza every month to serve to his employees at their meeting. In February, he bought three more than twice the number of pizzas he bought in January. If Wilson bought 15 pizzas in February, how many did he buy in January?

  77. Statistics

    Through extensive research, Metlife Insurance claims that the mean footwell intrusions for Toyota Corrola and Toyota Rav4 are equal. Crash test at 40mph were performed at 7 randomly selected Toyota Corrola and 13 randomly Toyota Rav4s selected. The amount

  78. FIU

    (1)You are preparing a budget for the month of January and are trying to estimate maintenance cost for the month. The maintenance cost is an overhead cost that is categorized as being mixed – that is it has both a fixed and a variable component. To

  79. 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

  80. accounting

    A new company called Bloomner construct, buys and sells furniture. During January the following happens: 1. The owner of the company pays in $50 000 into the cash, as starting capital. 2. The bank grants the company a bank loan of $40 000, the interest is

  81. physics

    A train sounds its horn as it approaches an intersection. The horn can just be heard at a level of 53 dB by an observer 11 km away. (a) What is the average power generated by the horn?

  82. A train sounds its horn as it approaches an inters

    A train sounds its horn as it approaches an intersection. The horn can just be heard at a level of 53 dB by an observer 11 km away. (a) What is the average power generated by the horn?

  83. Accounting

    Barclay Company’s tea distribution center in Boston suffered severe fire damage on April 28, 2014. You have been hired by Barclay to estimate the amount of fire loss for insurance purposes. Barclay uses the perpetual inventory system and last conducted a

  84. Business Math

    From the following facts, complete a depreciation schedule using thee straight - line cost of Highlander- $30,000 residual value- $6,000 estimated life- 8 years

  85. 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

  86. Accounting

    Motorcycle Manufacturers, Inc. projected sales of 76,000 machines for 2012. The estimated January 1, 2012, inventory is 6,500 units, and the desired December 31, 2012, inventory is 7,000 units. What is the budgeted production (in units) for 2012? a. 66,000

  87. Physics-Momentum

    A Toyota of mass 1500 kg is driving at 15 m/s North when it rear-ends a Cadillac of mass 2500 kg also moving North at 9 m/s. (The driver of the Toyota was probably texting) After the collision, the Toyota bounces back at 2 m/s. What is the speed of the

  88. finance

    The beginning of January 2006, a couple bought a $120,000 house with 10% down and a 30 year mortgage with an annual rate of 6.2%. What are the monthly payments?

  89. accounting

    I am attempting to study for an exam for tomorrow and cannot figure out the equity method entries up to 2006 for this problem, can someone please help! Parent Corporation owns 80% of Subsidiary Corporation’s outstanding common stock that was

  90. math

    yesterday, lena had 55 baseball cards. Today she gave c away. using c write an expression for the number of cards lena has left.

  91. accounting

    On January 2, 2010, Wine Corporation wishes to issue $2,000,000 (par value) of its 8%, 10-year bonds. The bonds pay interest annually on January 1. The current yield rate on such bonds is 10%. Using the interest factors below, compute the amount that Wine

  92. 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?

  93. accounting

    Cooper Construction Company had a contract starting April 2010, to construct a $9,000,000 building that is expected to be completed in September 2012, at an estimated cost of $8,250,000. At the end of 2010, the costs to date were $3,795,000 and the

  94. Urgent Help In Accounting

    January 1, 2008 Timber Company incorporated in the State of Pennsylvania. Initially it issued stock to three stockholders, Bob, Jim, and Frank. Each paid $50,000 (50,000 shares-- $.25 par value per share) for the stock. The Company¡¯s Articles of

  95. Accounting

    Fender Company had the following data for four months. Total Cost Production Units January $50,000 1,000 February$53,750 1,150 March $61,250 1,450 April $65,250 1,610 Use the “high-low” method to calculate the estimated variable cost per unit. A. $25

  96. accounting

    On January 4, 2013, Illinois Company purchased new equipment for $550,000 that had a useful life of four years and a salvage value of $50,000.

  97. 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

  98. capitalization

    which words need to be capitalized? my neighbors across the street have a new car, it's a toyota. ( My, Toyota )

  99. Physics URGENT!!!

    A train sounds its horn as it approaches an intersection. The horn can just be heard at a level of 59 dB by an observer 14 km away. (a) What is the average power generated by the horn? (b) What intensity level of the horns sound is observed by someone

  100. 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

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