Tender Years purchased a new van on January 1, 2014, for $40,000. The life of the van is 4 years or 100,000 miles, with an estimated residual value of $5,000. During the first year, the van was driven 20,000 miles. Compute the amortization for the first year applying each of the methods below.
a. ________________ Straight-line
b. ________________ Units-of-production
c. ________________ Double-declining-balance
38) Yamara Company purchased a $75,000 machine at the beginning of the year. The machine is expected to have a useful life of 5 years or 40,000 operating hours and a residual value of $15,000. Compute the amount of amortization for the first and second years under each of the methods below.
Year 1 Year 2 Method
b. $________________$________________Units-of-production: production in
year 1 - 6,000 hours; year 2 - 4,400 hours
39) Assume an asset costing $72,000 is expecting to produce 400,000 units and have a salvage value of $6,000. During year 1, 75,000 units were produced; during year 2, 68,000 units were produced, and during year 3, 70,000 units were produced. Using units-of-production, compute the amortization expense for each of the three years.
40) A car is purchased for $25,000 on January 1. It has a 4-year life and a salvage value of $1,000. Compute the annual amortization expense using the double-declining-balance method for all 4 years.
41) A piece of equipment is purchased for $78,000 on January 1. It has a 5-year life and a salvage value of $8,000. Compute the annual amortization expense using the double-declining-balance method for all 5 years.
Pressure distribution in incompressible fluids, Penelope is staring at a beaker filled with a liquid, which for all practical purposes can be considered as incompressible...Jun 12 2020
The truck has a mass of 20 Mg and a mass center at G. Determine the steepest grade θ along which it can park without overturning and investigate the stability in this position.Jun 03 2020
Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing trial balance The ...Apr 21 2020
Master in Marketing Module integrated marketing communication Mixed methods and promotional mix Continued from mixed methods work : A company’s reputation takes years...Nov 05 2017
Purpose of the research is to focus on changes evidenced in Nigerian banking sector after financial crisis is over. The research aims to light economic fluctuations happe...Aug 08 2020
Describe scheduling needs in job shops.Nov 29 2019
a soil sample has a porosity of 40% The specific gravity of solids is 2.70. Calculate:- A) voids ratio B) dry density C) unit weight if soil is 50% saturated D)unit weigh...Jul 10 2020
"Other than through classes in school, in what areas (non-academic or academic) have you acquired knowledge or skills? How?" What is this prompt asking for?Mar 25 2020
Mason Olson is chairman of the board of Healthy Fast Foods, Inc. Suppose Olson has just founded Healthy Fast Foods, and assume that he treats his home and other personal ...Mar 31 2020
Sales forecast based on external data. Nelson Heating and Ventilating Company estimates the comingyear’s sales revenue based on external data. Thecompany’s main business...May 19 2018
Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.