Question

On January 1st them Matthew Band pay 68000 for sound Equipment The band estimate it will...

On January 1st them Matthew Band pay 68000 for sound Equipment The band estimate it will use this quite ment for 4 years and perform 200 concert it's estimated that after 4 years it


can sell the equipment for 1000 during the 1st year the band perform 45 concert complete the 1st year depression using the units of product method

Homework Answers

Answer #1

Calculation of depreciation under units of product method.

Depreciable Amount

= Total cost - Salvage value

= 68000-1000

= 67000

Depreciation

= (Depreciable Amount × concert during the year)/Total expected concert

= (67000 × 45)/200

= 15075

Note: Under units of product method of depreciation depreciable amount(total cost - salvage value) is depreciated over the life of asset according to their product produce.

Please give a thumbs up if you like the answer.Thank you!

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Robotix Co. purchases a patent for $23,000 on January 1. The patent is good for 18...
Robotix Co. purchases a patent for $23,000 on January 1. The patent is good for 18 years, after which anyone can use the patent technology. However, Robotix plans to sell products using that patent technology for only 5 years. Prepare the intangible asset section of the balance sheet that reports on this patent at the end of the first year. ROBOTIX CO. Balance Sheet December 31 Assets Intangible assets          Kegler Bowling buys scorekeeping equipment with an invoice...
1. The Whatever Corp. purchased equipment on March 1, 2013 as follows: Equipment Cost $260,000 Shipping...
1. The Whatever Corp. purchased equipment on March 1, 2013 as follows: Equipment Cost $260,000 Shipping costs $10,000 Estimated Salvage Value $25,000 Estimated Useful Life 10 Life time units of Production 1,000,000 If the Straight line method is used, (a) what is the depreciation expense as of December 31, 2013? (b) What will be the Depreciation expense for the calendar year 2014? 2. If the Whatever Corp. uses the Double Declining Balance Method, what would the depreciation expense be for...
ACCOUNTING Compute the following transactions, for year XO. After computing them, present the Income Statement, Balance...
ACCOUNTING Compute the following transactions, for year XO. After computing them, present the Income Statement, Balance Sheet and Cash Flow Statement as of December 31 st , X0, and answer to the following questions: a) Which is the shareholders’ equity value at the end of year X0? b) What’s the financial position of the firm at the end of year X0? (Compare SHE and Liabilities) c) What’s the asset composition of the firm at the end of the year? d)...
The Cherry & White Bike Company is a small closely-held company with two owners. Its two...
The Cherry & White Bike Company is a small closely-held company with two owners. Its two owners, Charlotte and George, have decided to expand the business. You are CWB’s accountant. Your responsibilities include maintaining all accounting records and preparing annual financial statements. CWB wants to take out a loan to expand its business in the coming year. The banks and lending institutions require a set of financial statements prepared under U.S. GAAP to evaluate CWB’s credit worthiness. You must prepare...
MATHEMATICS 1. The measure of location which is the most likely to be influenced by extreme...
MATHEMATICS 1. The measure of location which is the most likely to be influenced by extreme values in the data set is the a. range b. median c. mode d. mean 2. If two events are independent, then a. they must be mutually exclusive b. the sum of their probabilities must be equal to one c. their intersection must be zero d. None of these alternatives is correct. any value between 0 to 1 3. Two events, A and B,...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
1. The failure of the new supply chain system affected Nike adversely. What were the reasons...
1. The failure of the new supply chain system affected Nike adversely. What were the reasons for the failure and how did the breakdown harm Nike? 2. What are the important elements to be kept in mind while implementing a new system in an organization? What is the importance of a good working relationship between partners and the sharing of responsibility in implementing critical projects? What mistakes did Nike and i2 make? 3. comment on the lessons learned and the...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president by working to build good work relationships with other managers outside her own department. Brianna's behavior should be viewed as dysfunctional politics. functional politics. coercive power. functional influence. 2 points QUESTION 2 1. The Gingerbread Factory has a separate unit that makes their chocolate crunch cookies and another unit that is completely responsible for all operations in producing their ginger snap cookies. The Gingerbread...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich,...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich, O. C. Ferrell, and Jennifer Jackson, with the editorial assistance of Jennifer Sawayda. This case was developed for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal discussion by management. All sources used for this case were obtained through publicly available material. Mattel, Inc. is a world leader in the design, manufacture, and marketing of family...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT