Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. thanks concord company purchased factory equi

thanks Concord Company purchased factory equipment for $653000. The machine's...

70.2K

Verified Solution

Question

Accounting

thanks
image
Concord Company purchased factory equipment for $653000. The machine's estimated useful in hours is 179000 hours. The estimated salvage value is $53000 and the estimated useful life in years is 8 . The machine was used for 9000 hours in the first year. The activity method will be used for depreciation. What is depreciation expense in the first year of this asset if it was purchased on September 1 ? (Round per hour calculation to 2 decimal ploces, es. 12.50 and final answer to 0 decimal places, es. 1.525. $25000$31925$27208$30150

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

describe the metabolic process that results in the beneficial effects of small doses of Acetaminophen (eg....

Biology
Q

2 List the 3 main types of polysaccharides complex carbohydrates and fill in the table...

Biology
Q

system except molecules is an electron carrier in the electron transport iron sulfur proteins coenzyme...

Biology
Q

A particle of mass m is made to move with a uniform speed Vo along...

Physics
Q

A gas is expanded from volume V to 2V under three different processes Process 1...

Physics
Q

3 2 f x 4x 3x

Calculus
Q

For the quadratic function f x x 2 4 determine the largest open interval of...

Algebra
Q

Prepare a statement of cash flows, using the indirect method of presenting cash flows from...

Accounting
Q

Use the information provided below to prepare the Statement of Comprehensive Income for the year...

Accounting
Q

Acompany manufactures and sells a wide variety of products. Performance reports are prepared monthly for...

Accounting
Q

Long Question, Explanation required Comment on company's long term solvency position, using three ratios for...

Accounting
Q

The exchange rates in New York for $1 are Can$1.0989 or 0.7297. In Toronto, Can$1...

Finance