Question 1 prious uses the straight-line depreciation, Ask an Expert

Accounting

Question: 1. Prious uses the straight-line depreciation method On October 1, 2011, Prious Co. bought a equipment for $45,000. They estimate the equipment will have a $5,000 salvage value and an 5 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?

2. Fusion Co. uses the straight-line depreciation method On April 1, 2011, Fusion Co. bought a equipment for $24,000. They estimate the equipment will have a $4,000 salvage value and an 4 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?

3. Prious uses the double declining balance depreciation method On October 1, 2011, Prious Co. bought a equipment for $45,000. They estimate the equipment will have a $5,000 salvage value and an 5 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?

4. Fusion Co. uses the double declining balance depreciation method On April 1, 2011, Fusion Co. bought a equipment for $24,000. They estimate the equipment will have a $4,000 salvage value and an 4 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92712180

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - ismail construction enters into a contract to

Question - Ismail Construction enters into a contract to design and build a hospital. Ismail is responsible for the overall management of the project and identifies various goods and services to be provided, including en ...

Question as a financial consultant you have contracted with

Question: As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You have agreed to provide a detailed report ill ...

Question paper 01 ubs tax evasion paperprepare 500-750-word

Question: Paper 01: UBS Tax Evasion Paper Prepare 500-750-word paper in which you address the following: • Discuss the matter of 2008 UBS Tax Evasion charges. • Explain your understanding of their cause, the impact on th ...

Question - lois braggs owns a small restaurant in boston ms

Question - Lois Braggs owns a small restaurant in Boston. Ms. Bragg provided her accountant with the following summary information regarding expectations for the month of June. The balance in the cash account as of May 3 ...

Question - explain legislation and statutory requirements

Question - Explain legislation and statutory requirements and industry codes of practice including(Australia): Consumer credit code Privacy act Credit act Financial transaction reports act Corporations act (including acc ...

Question - on november 1 wti agreed to provide a special

Question - On November 1, WTI agreed to provide a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,400, and the client paid the first five months' fees in advance. ...

Question - barbara whitley had great expectations about her

Question - Barbara Whitley had great expectations about her future as she sat in her graduation ceremony in May 2010. She was about to receive her Master of Accountancy degree, and next week she would begin her career on ...

Question - vela enterprises inc would like to prepare

Question - Vela Enterprises Inc. would like to prepare summary cash budget for March. The following information is available: The cash balance at 1 March was estimated to be $8 000. March sales, all on account, were esti ...

Question - lasorsa corporation manufactures a single

Question - Lasorsa Corporation manufactures a single product. Variable costing net operating income last year was $86,000 and this year was $98,000. Last year, $4,000 in fixed manufacturing overhead costs were released f ...

Question - on january 1 2017 boston enterprises issues

Question - On January 1, 2017, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par. Explain how it ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert