1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kipish [7]
3 years ago
13

In 2010, Norbert Incorporated bought a new tooling machine for $45,000. Norbert estimated that the machine had a useful life of

15 years with no salvage value, and it decided to depreciate the machine using the straight-line method. In January 2020, after the machine had been in use for 10 years, Norbert paid $12,000 to completely overhaul the machine. It did so with the expectation that the overhaul would extend the machine’s useful life by an additional 5 years. Given this information, Norbert should record a 2020 depreciation expense of _______ for the machine.
Business
1 answer:
Norma-Jean [14]3 years ago
3 0

Answer:

Norbert should record at 2020 depreciation expense of $2,700 for the machine

Explanation:

The depreciable base can be calculated as follows;

depreciable base=acquisition cost-salvage value

where;

acquisition cost=$45,000

salvage value=$0

replacing;

depreciable base=45,000-0=$45,000

Annual depreciation expense=depreciable base/useful life

annual depreciation expense=45,000/15=$3,000

accumulated depreciation after 10 years=3,000×10=$30,000

New net book value=acquisition cost-accumulated depreciation+overhaul cost

New machine value=(45,000-30,000+12,000)=$27,000

New depreciation base=new machine value-salvage value

where;

new machine value=$27,000

salvage value=$0

replacing;

New depreciation base=27,000-0=$27,000

New Annual depreciation expense=new depreciation base/useful life

where;

new depreciation base=$27,000

useful life=5+5=10 years

replacing;

New Annual depreciation expense=27,000/10=$2,700

Norbert should record at 2020 depreciation expense of $2,700 for the machine

You might be interested in
WHY do we pay tax and what is it use for
lara [203]
We pay taxes <span>The money you pay in taxes goes to many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters. Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks. </span>
5 0
3 years ago
Read 2 more answers
An item not normally included in ansi recommendations but recommended by other groups is
dybincka [34]

The item that is not normally included in the ANSI recommendations but are included and recommended by other group is the defibrillator, this is useful in medical situations in which it has the ability to treat cardiac dysrhythmias that is life threatening. 

6 0
3 years ago
Read 2 more answers
40 POINTS!! Decorative text available to include in a document is known as _____.
enyata [817]
4. word art, I believe is the correct answer
5 0
3 years ago
Read 2 more answers
Nico wants to buy a new digital camera for his semester studying abroad but he knows very little about cameras, having never own
Darina [25.2K]

Answer: External research

Explanation:

External research is referred to as or known as a research conducted when an individual does not have any prior knowledge or information about a commodity or product, which further leads the individual to seek data and information from the personal sources such as friends or family and also the public sources i.e. online forums or in other cases the marketer dominated source i.e. sales persons especially at times when an individual’s previous experience is known to be limited.

3 0
3 years ago
When you ask questions about the animal's drinking habits, particularly increases and decreases in water consumption, you're col
balandron [24]
The excretory system is related to the increase or decrease in the consumption of water by an animal. The increase or decrease is due to the variation in the antidiuretic hormones in the humans. The retention and excretion of excess water and ions are performed by the kidneys, which is a part of the excretory system. 
7 0
3 years ago
Other questions:
  • McDonald's conducts a value chain analysis of Burger King and discovers that Burger King's logistics and procurement of inputs a
    15·1 answer
  • A broker-dealer owns 100 shares of abco stock, which it purchased at 28. if the stock is sold to a customer, the broker-dealer w
    5·1 answer
  • When considering how well a particular alternative has worked, the critical thinker is someone who is ______ to new ideas and ex
    12·1 answer
  • Suppose over the last year that the price of recycled aluminum increased from $800 a ton to $900 a ton. over the same time a mea
    14·1 answer
  • ____________ is not an important middleware standard. CORBA (Common Object Request Broker Architecture Distributed Computed Envi
    12·1 answer
  • What is an Exclusive Contract with a Real Estate Agent?
    10·1 answer
  • When a manufacturer seeks a market for by-products and accepts a price that covers more than the cost of storing and delivering
    12·1 answer
  • What were the holdings of the case HALO Electronics vs Pulse Electronics ? Help please
    7·1 answer
  • how are all of your days so far i need someone to talk to btw i have a strict mom so if i dont answer stay there cuz she does no
    6·2 answers
  • Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!