A machine with a cost of $190,000 has an estimated residual value of $19,000 and an estimated life of 4 years or 19,000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 6,000 hours?

A machine with a cost of $190,000 has an estimated residual value of $19,000 and an estimated life of 4 years or 19,000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 6,000 hours?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Find the savings plan balance after 6 months with an APR of 9% and monthly payments of $200. The…

A: Future value refers to the value of an asset present today at some future date affected by interest…

Q: You wish to save $30,000 by making $1000 deposits at the end of each month. If the bank pays 4%…

A: Dear student, we need to use NPER and FV formulas in excel to solved this problem.

Q: In one month your costs on a project are $615,098 and you are applying for payment. You are marking…

A: To calculate the amount you expect to receive from the owner, you need to consider the project…

Q: Suppose you wish to borrow $400 for four weeks and the amount of interest you must pay is $20 per…

A: The objective of this question is to calculate the Annual Percentage Rate (APR) for a loan of $400…

Q: Questions 4-10. With a beginning balance of $1200 and no additional charges during the next three…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Rm 700 invested every month into an account that pays 5% compounded annually for 18 months.…

A: Effective Rate- Any rate that is compounded annually is called an effective rate.Nominal rate- Any…

Q: You invest $11,000 in an account that pays simple interest of 2% for 1 year. Calculate the amount of…

A: Simple interest is an easy method of calculating the interest amount. Simple interest is calculated…

Q: six-month was the simple annual interest rate 20. You deposit $2000 into a savings account. The…

A: The objective of the question is to find out how long it will take to earn $120 in interest with a…

Q: cost

A: Net annual cost is defined as a cost incurred in the checking accounts. The montthly cost generally…

Q: SOLVE STEP BY STEP IN DIGITAL FORMAT 5.28 Find the amount of 18 payments that the anesthetist…

A: Future value is an estimate of future cash flows that may be received at a future date, discounted…

Q: ind the time required, to the nearest 0.1 year, for the investment to reach the desired goal: a)…

A: Money that is invested today grows in the future. This happens due to a concept called compounding.…

Q: All of the following components go into calculating your credit score EXCEPT Payment history: 35% O…

A: Credit Score is calculated based on 1. Repayment History 2. Amount Owed 3. Length of credit history…

Q: what is the amount needed?

A: The given problem can be solved using the unitary method: When 20% is 2 tsp then; 100% is 2/20% = 10…

Q: A bill for duct insulation and furnace filters is $237.15 with the notation 2%10/Net 30. How much is…

A: Discount: It can be defined as a rebate or deduction in the gross amount that is to be paid by the…

Q: Need the solution within an hour Working Capital is $900,000; Trade Payables $90,000 and other…

A: We have the following information: Working Capital: $900,000 Trade Payables: $90,000 Other Current…

Q: forward rates are given ; 6month; 5% 12 month; 4.5% 18month; 3% 24 month; 2% are we in a state…

A: The future contract can be defined as the legal contract entered by two parties to buy or sell a…

Q: Develop a general-purpose spreadsheet to calculate the balance due, principal payment, and interest…

A: workings:

Q: Find the savings plan balance after 12 months with an APR of 5% and monthly payments of $300. The…

A: Monthly payment (C) = $300Monthly interest rate (r) = 0.00416666666666667 (i.e. 0.05 / 12)Monthly…

Q: How many days in a grace period for most credit cards A. 20-30 DAYS B. 30-60 DAYS C.100 DAYS…

A: Grace Period Grace period is the number of days between a credit card holder statement date and due…

Q: five years? End of Year 1 2 3 Cash Flow In $ $ $ Cash Flow Out $ 300,000 $ 400,000 $ - 490,000…

A: The question is based on the concept of Cost Accounting. Net cash flow is the difference between the…

Q: Calculate the time necessary to achieve an investment goal. Give your answer to the nearest day. Use…

A: In this we have to determine the daily interest rate and from that we can get time required to…

Q: how many months do a project has to be with a monthly cash flow of $5 000 (starting at end of the…

A: The annuity payments that are made at the beginning of the year are called annuity due and the ones…

Q: Ebony would like to determine how much money is in an account each month that earns 5% annually with…

A: Amount deposit by Ebony=$700Rate of interest=5%For month1:Simple interest=P×R×TInterest=700×112×0.05…

Q: Suppose you have a student loan of $35,000 with an APR of 12% for 30 years. The required…

A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…

Q: (a) During the September 20 through October 19 billing period, you pay the minimum required payment…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Find the savings plan balance after 6 months with an APR of 8% and monthly payments of$100.

A: Present value is an estimate of future cash flows that may be received at a future date,…

Q: an Please Help Me: Engineering Economics/Civil Engineering 60 minutes only the given time. Wish you…

A: In this we have to use future value formula and calculate the time required.

Q: do we include the 15% vat in our T-accounts

A: A follow-up question.Vat is the tax amount which is required to be chargeable on the purchases and…

Q: 15. From the given rate of simple interest, determine the equivalent rate of discount 7.5% for 150…

A: 15) Simple interest (r) = 7.5% Duration (n) = 150 days = 150/360 years = 0.4167 years

Q: suppose that a codominium unit pirchased for 2,800 and the bank requires 30% down oayment how much…

A: The question is based on the concept of a mortgage loan. A financial institution provides a loan to…

Q: To provide for the automation of a production process in six years, Invista is starting a sinking…

A: Amount required = $800,000Interest rate = 6.4% compounded monthlyNumber of years = 6To find:…

Q: ive rate? 6 % p.a compounded daily

A: The given problem can be solved using EFFECT function in excel. EFFECT function computes effective…

Q: What is the effective interest rate per week for an investment of $50 with an interest of $5 per…

A: Effective Interest Rate per week = Interest / Investment

Q: compute the annual equivalent repair cost over 8 years life if type writer is warranted for three…

A: The annual cost method is used to find the profitability of the project by allocating an equal cost…

Q: A project has cost $50,000. The project is scheduled to complete three months from now and is…

A: Sunk cost is a cost which has already being incurred and cannot be recovered. For a continuing…

Q: One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments…

A: A loan is a debt amount borrowed by one person from another person at a predetermined financial…

Q: As an independent consultant, you just booked a client for $1,000 per month, with the first payment…

A: Given information:Monthly payment = $1000 Number of months = 60 Annual interest rate = 6.6%

Q: If the initial margin is $5,000, the maintenance margin is $3,500 and your balance is $4,000, how…

A: Given, Initial margin = $5,000. Maintenance margin = $3,500. Balance = $4,000.

Q: nth. Round all values to the nearest cent. A. What is the finance charge for this first month? B.…

A: finance fee is the interest pay on a loan you owe,If you carry a debt from one payment month to…

Q: weekly wage costs of £6000. Wages are paid a week in arrears, with the first payment to be made in…

A: Cash flow It is important for the each and every project to incurred required cash flow which are…

Q: 7. Your project is expected to run for three consecutive years. Your organization is introducing…

A: BAC: - BAC stands for Budget At Completion. BAC is the total estimate of the project. It has the…

Q: Find the savings plan balance after 12 months with an APR of 5% and monthly payments of $250 The…

A: Future value of annuity Annuity is a series of equal payment at equal interval over a specified…

Q: Compute the payback period for a project with an initial cost of $100 and project cash flows of $10…

A: Formulas: Payback period = Initial cost / cash flows

Q: Solve for the (1) in the blank Assume that you save 22,000USD to keep on the 1st day of every month…

A: Simple interest can be defined as the amount of interest to be computed on the original contribution…

Q: What is the effective rate of 4% monthly?

A: The real interest that an investor earns on the investment and a borrower pays on loan after…

Q: 4. Five transactions for Jodry & Associates follow. A. Journalize the five transactions under a…

A: Journal entries- Journal entries refer to the approved book of a corporation which is used to record…

Q: You are responsible to manage an IS project with a 4-year horizon. The annal cost of the project is…

A: Return on investment is the income earned on an investment throughout the defined investment…

Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

solve within 30 mins.

A machine with a cost of $190,000 has an estimated
residual value of $19,000 and an estimated life of 4
years or 19,000 hours. It is to be depreciated by the
units-of-activity method. What is the amount of
depreciation for the second full year, during which the
machine was used 6,000 hours?
a.$35,000
b.$54,000
c.$66,000
d.$6,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Start with a $1,000 deposit and assume a reserve requirement of 15 percent. Trace the amount of money created by the banking system after five lending cycles.
Find the savings plan balance after 9 months with an APR of 4% and monthly payments of $150. The balance is?
How do you calculate quarterly hour system?
Which of the following would indicate the BEST Average Collection Period? 30 days 20 days 25 days 15 days
The collection of a 1200 account after the 2 percent discount period will result in a
You need to prepare for three large, upcoming project expenditures which will begin 3 years from now. The first required cash flow will be $56,000, the next year will require $94,000, and then $132,000. If you begin setting aside funds from your current budget next month, how much do you need to save each month in order to have enough to cover all three cash flows the day the first cash flow comes due? Assume you can invest these funds at 8.4 percent APR, compounded monthly. Please demonstrate how to calculate using a financial calculator, when possible.
Cash Payback Period A project has estimated annual net cash flows of $39,500. It is estimated to cost $201,450. Determine the cash payback period. Round your answer to one decimal place.
If this was a BELO plan with a pay rate of $22.00 per hour and a maximum of 53 hours, how much would Overwood be paid for 48 hours?
10
Bank account C starts with $10 and doubles each week. Bank account D starts with $1,000 and grows by $500 each week. When will account C contain more money than account D? At 4 weeks O At 2 weeks O At 3 weeks O At 10 weeks
4. Stan has a bank account that earns him 0.05% each year. He wants to know how much money he will have in 5 years from a deposit made today. Inputs Process Outputs Pseudo Code: 1. Desk Check
SOLVE STEP BY STEP IN DIGITAL FORMAT dont use excel, dont use IA 5.28 Find the amount of 18 payments that the anesthetist Joaquín Murillo must make at the beginning of each bimonthly period, if the amount he deposits bimonthly is $1,985. The interest is 15% per year, compounded bimonthly.