Business, 15.04.2020 03:18, bradleycawley02
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances:
Manufacturing equipment $154,600
Accumulated depreciation through 2019 54,000
During 2020, the following expenditures were incurred for the equipment:
Routine maintenance and repairs on the equipment $1,400
Major overhaul of the equipment that improved efficiency on January 2, 2014 19,200
The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $12,000 estimated residual value. The annual accounting period ends on December 31.
Required:
Prepare the adjusting entry that should be made by Hulme Company at the end of 2014 for depreciation of the manufacturing equipment, assuming no change in the original estimated life or residual value.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 23:30, brittd2728
Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable
Answers: 3
Business, 22.06.2019 04:50, garrowe96
Problem 9-5. net present value and taxes [lo 1, 2] penguin productions is evaluating a film project. the president of penguin estimates that the film will cost $20,000,000 to produce. in its first year, the film is expected to generate $16,500,000 in net revenue, after which the film will be released to video. video is expected to generate $10,000,000 in net revenue in its first year, $2,500,000 in its second year, and $1,000,000 in its third year. for tax purposes, amortization of the cost of the film will be $12,000,000 in year 1 and $8,000,000 in year 2. the company’s tax rate is 35 percent, and the company requires a 12 percent rate of return on its films. required what is the net present value of the film project? to simplify, assume that all outlays to produce the film occur at time 0. should the company produce the film?
Answers: 2
Business, 22.06.2019 11:00, dxpebetty64
Which statement best describes the variety of workplaces commonly found in the health science career cluster? a. workplaces in this cluster include healthcare facilities such as hospitals, physician offices, and clinics. b. workplaces in this cluster include healthcare facilities, laboratories, and other environments such as offices or homes. c . workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices. d. workplaces in this cluster include private and nonprofit hospitals and clinics, and dentists' offices.
Answers: 1
Do you know the correct answer?
Hulme Company operates a small manufacturing facility as a supplement to its regular service activit...
Questions in other subjects:
Mathematics, 24.09.2019 04:00
Mathematics, 24.09.2019 04:00
Social Studies, 24.09.2019 04:00
Physics, 24.09.2019 04:00
Health, 24.09.2019 04:00
