On July 1, 2016, Tingting Manufacturing Limited (which has a Dec 31st year end) purchased equipment for $50,000 that has an estimated life of five years and a disposal value of $5,000. On January 1st, 2018, a major improvement was made to the equipment costing $5,000. As a result, the production capacity doubled, but its expected life and residual value remained unchanged. At the beginning of 2019, Tingting Manufacturing Limited revised the estimated remaining useful life to be two years and its disposable value to $1,071.43 16) Assuming that Straight-Line Method was used to calculate depreciation, the depreciation expense for 2017 would be: a) $4,500 b) $5,000 c) $9,000 d) $13,500 E) None of the above 17) Assuming that the Straight-Line Method was used to calculate depreciation, the depreciation expense for 2018 would be (rounded to the nearest dollar): a) $9,000 b) $13,500 c) $10,429 d) $15,000 e) None of the above 18) Assuming that the Straight-Line Method was used to calculate depreciation, the depreciation expense for 2019 would be (rounded to the nearest dollar): a) $9,000 b) $13,500 c) $10,429 d) $15,000 e) None of the above

On July 1, 2016, Tingting Manufacturing Limited (which has a Dec 31st year end) purchased equipment for $50,000 that has an estimated life of five years and a disposal value of $5,000. On January 1st, 2018, a major improvement was made to the equipment costing $5,000. As a result, the production capacity doubled, but its expected life and residual value remained unchanged. At the beginning of 2019, Tingting Manufacturing Limited revised the estimated remaining useful life to be two years and its disposable value to $1,071.43 16) Assuming that Straight-Line Method was used to calculate depreciation, the depreciation expense for 2017 would be: a) $4,500 b) $5,000 c) $9,000 d) $13,500 E) None of the above 17) Assuming that the Straight-Line Method was used to calculate depreciation, the depreciation expense for 2018 would be (rounded to the nearest dollar): a) $9,000 b) $13,500 c) $10,429 d) $15,000 e) None of the above 18) Assuming that the Straight-Line Method was used to calculate depreciation, the depreciation expense for 2019 would be (rounded to the nearest dollar): a) $9,000 b) $13,500 c) $10,429 d) $15,000 e) None of the above

Name: how do you calculate the straight line method for these three question
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: how do you calculate the straight line method for these three questions On July 1, 2016, Tingting Manufacturing Limited (which has a Dec 31st year end) purchased equipment for$50,000 that has an estimated life of five years and a disposal value of $5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Need help
How did you find the calcuation for part b?
Income statement information for Einsworth Corporation follows: Sales $433,000 Cost of goods sold 160,210 Gross profit 272,790 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. blankEinsworth CorporationVertical Analysis of the Income Statement Amount Percentage Sales $433,000 fill in the blank 1% Cost of goods sold 160,210 fill in the blank 2 Gross profit $272,790 fill in the blank 3%
In your opinion what are the three most important areas to use when benchmarking?
How to do vertical and horizontal analysis.
How the MIRR is calculated
What are the types of fundamental analysis?
Compare and contrast single equation and systems-based approaches to building models. How do we estimate simultaneous equations?
What does ROE measure?
How is the process of the NPW measure implemented with the decision rule?