Business, 15.04.2020 20:39 sirdre1982
Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipment that was purchased at a cost of $43,000 on October 1, 2013. The equipment has an estimated residual value of $3,000 and an estimated useful life of five years or 20,000 hours. Assume the equipment was used for 1,000 hours from October 1 to December 31 and the company uses: (a) straight-line, (b) double-declining-balance, or (c) units-of-production depreciation. (Do not round intermediate calculations.)
1) Straightline
2) Double-Declining-Balance
3) Units of Production
The depreciation amounts are needed for each of those 3 based on the information provided. Thanks!
Answers: 1
Business, 22.06.2019 21:20
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Business, 23.06.2019 00:10
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Business, 23.06.2019 01:50
The partnership of douglas, ryan, and ellen has dissolved and is in the process of liquidation. on july 1, 2016, just before the second cash distribution, the assets and equities of the partnership along with profit and loss sharing ratios were as follows: cash $30,000receivable - net $20,000inventories $25,000equipment - net $30,000total assets $80,000liabilities $12,000douglas, capital (20%) $28,000ryan, capital (50%) $24,000ellen, capital (30%) $16,000total liab./equity $80,000assume that the available cash is distributed immediately, except for a $2,000 contingency fund that is withheld pending complete liquidation of the partnership. how much cash should be paid to each of the partners? a. $3,200 douglas, $8,000 ryan, $4,800 ellenb. $5,600 douglas, $14,000 ryan, $8,400 ellenc. $16,000 douglas, $0 ryan, $0 ellend. $8,000 douglas, $0 ryan, $8,000 ellen
Answers: 1
Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipmen...
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