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Naddika [18.5K]
2 years ago
14

Millco, Inc., acquired a machine that cost $1,200,000 early in 2016. The machine is expected to last for eight years, and its es

timated salvage value at the end of its life is $180,000.
a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and calculate the accumulated depreciation after the fifth year of the machine's life. FIll in boxes

Depreciation expense Accumulated depreciation

b. Using declining-balance depreciation at twice the straight-line rate, calculate the depreciation expense for the third year of the machine's life.

c. What will be the net book value of the machine at the end of its eighth year of use before it is disposed of, under each depreciation method?
Business
1 answer:
Likurg_2 [28]2 years ago
5 0
The answer is C. Or the three one
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After deduction all expenses and taxes, the balance left either at hand or in bank is the discretionary income.

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The multiplier is useful in determining the full-employment unemployment rate level of business inventories change in the rate o
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Explanation:

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3 years ago
On August 1, 2009 a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest,
Leya [2.2K]

Answer:

discount on BP   8,000 debit

cash                592,000 debit

bond payable                       600,000 credit

-to record issuance of the bonds--

interest expense     15,416.67 debit

  interest payable                     15,000      credit

  discount on BP                           416.67 credit

--to record year-end adjustment entry--

interest payable   15,000      debit

interest expense   3,083.33 debit

  cash                                       18,000    credit

  Discount on BP                         416.67 credit

-to record first interest payment to bondholders--

Explanation:

proceeds from the bonds:  592,000

face value of the bonds.    (600,000)

discount on BP                        (8,000)

We amortize over the life of the bond in equal parts:

8,000 / 20 payment (10years x 2 payment per year) = 500

interest accrued from August 1st to December 31th:

face value x rate x time accrued

600,000 x 6% x 5/12 = 15,000

accrued proportional amortization

amortizationfor 6 months x accrued month

from Augsut 1st to December 31th

500 x 5/6 = 416.67

February 1st payment:

600,000 x 6% x 1/12 = 3,000 interest expense

cash outlay:

600,000 x 6% x 6/12 = 18,000

amortization 500 - 416.67 = 83.33

8 0
2 years ago
A car dealer acquires a used car for $12,000, with terms FOB shipping point. Compute total inventory costs assigned to the used
bagirrra123 [75]

Answer:  

<h2>$13,070 </h2>

Explanation:  

The Cost of inventory = all cost of purchase; including costs of conversion and transfer.

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Cost of Purchase $12,000  

Transportation-in       $100

Shipping insurance    $170

Car import duties      $800

Total Cost              $13,070

8 0
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