Which depreciation method was used, Accounting Basics

+44 141 628 6080
[email protected]

Which depreciation method was used

A plant asset has a cost of $32,000 and a salvage value of $8,000. The asset has a three-year life. If depreciation in the third year amounted to $4,000, which depreciation method was used?

A) Declining-balance

B) Sum-of-the-years'-digits

C) Cannot tell from information given

D) Straight-line

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Which depreciation method was used

Reference No:- TGS067315

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Amount of cash expected to be received from customers

Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is:

Q : What amount be reported for patent amortization expense

ELO Corporation purchased a patent for $180,000 on September 1, 2010. It had a useful life of 10 years. On January 1, 2012, ELO spent $44,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life

Q : Paying what annual rate of interest

Kraft Inc. offers Schnuck's credit terms of 2/5, net 65. If Schnuck's does not take the early payment discount, it is effectively paying what annual rate of interest?

Q : Record depreciation expense on machinery

On September 19, 2012, McCoy Co. purchased machinery for $285,000. Salvage value was estimated to be $15,000. The machinery will be depreciated over eight years using the sum-of-the-years'-digits method. If depreciation is computed on the basis of

Q : Which depreciation method was used

A plant asset has a cost of $32,000 and a salvage value of $8,000. The asset has a three-year life. If depreciation in the third year amounted to $4,000, which depreciation method was used?

Q : Compute the gross levy required to raise revenue

Compute the gross levy required to raise revenue in the amount you computed for requirement (a). Round the computation to the nearest dollar.

Q : Compute equivalent units of production for conversion costs

Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November.

Q : Compute the unit costs for materials and conversion costs

Production costs chargeable to the Finishing Department in June in Castilla Company are materials $19,100, labor $30,400, overhead $18,850. Equivalent units of production are materials 21,900 and conversion costs 19,100. Compute the unit costs for

Q : What is the capitalized cost of the equipment

The applicable rate of interest is 8%. The present value of an ordinary annuity factor for three years at 8% is 2.58, and the present value for the future amount of a single sum of one dollar for three years at 8% is .735. Shipping charges for the

1951668

Questions
Asked

3,689

Active Tutors

1421765

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Which depreciation method was used

Reference No:- TGS067315

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Amount of cash expected to be received from customers

Q : What amount be reported for patent amortization expense

Q : Paying what annual rate of interest

Q : Record depreciation expense on machinery

Q : Which depreciation method was used

Q : Compute the gross levy required to raise revenue

Q : Compute equivalent units of production for conversion costs

Q : Compute the unit costs for materials and conversion costs

Q : What is the capitalized cost of the equipment

Officer retires and wants to continue healthcare coverage

What condition for elevating the anterior vaginal wall

Define what person-centered care means to you

What strengths do you observe in the facilitators skills

Consider a complex health problem or issue routinely

Describe two educational barriers patients face

How individuals covered by a high deductible health plan

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Which depreciation method was used

Reference No:- TGS067315

Recent Questions Asked Accounting Basics

Q : Amount of cash expected to be received from customers

Q : What amount be reported for patent amortization expense

Q : Paying what annual rate of interest

Q : Record depreciation expense on machinery

Q : Which depreciation method was used

Q : Compute the gross levy required to raise revenue

Q : Compute equivalent units of production for conversion costs

Q : Compute the unit costs for materials and conversion costs

Q : What is the capitalized cost of the equipment

Asked Questions