Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. danny dimes construction company acquired the foll

Danny Dimes Construction Company acquired the following plant assets on January 1, 2021. The delivery...

50.1K

Verified Solution

Question

Accounting

Danny Dimes Construction Company acquired the following plant assets on January 1, 2021. The delivery truck was driven for 12,000 miles in 2021 and 20,000 miles in 2022; of its useful estimated life of 100,000 miles. Compute depreciation for each of the assets for 2021 and 2022 only. Assets Office Equipment Building Delivery truck ** Show your math** 1 a. b. C. Cost $150,000 $280,000 $125,000 Office equipment Building Delivery equipment 2021 Residual Value $5,000 $30,000 $25,000 Useful Life 5 years 20 years 10 years I Depreciation Method Straight-line Double-declining balance Units-of-production 2022
image please help thank you
Danny Dimes Construction Company acquired the following plant assets on January 1, 2021. The delivery truck was driven for 12,000 miles in 2021 and 20,000 miles in 2022; of its useful estimated life of 100,000 miles. Compute depreciation for each of the assets for 2021 and 2022 only

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Two converging lenses with focal lengths of 40 cmand 20 cm are 10 cm apart. A...

Physics
Q

Q.15 (10 Pts) Explain the significance of using precise references and consequences of not using precise...

Mechanical Engineering
Q

d 8mF 57 In the figure shown three AC voltmeters are connected at resonance a...

Physics
Q

Use the price-demand equation p +0.004x = 60, 0?p?60. Find the elasticity of demand when...

Basic Math
Q

If the odds for a certain event are 7 to 5, what is the probability...

Statistics
Q

The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June...

Accounting
Q

Se est comprando una casa por $275,000. El comprador acepta un prstamo del 80% y...

Accounting
Q

Income Statement The revenues and expenses of Sentinel Travel Service for the year ended August...

Accounting
Q

On June 30 , Brown Company agrees to accept a 60 -day, 8%,$6,300 note from...

Accounting
Q

GVO Minion, Inc., has no debt outstanding and a total market value of $220,000. Earnings...

Finance
Q

Question 4 1 pts How much would you pay today for an asset that pays...

Finance
Q

What type of order initiates a short position? BTO STO BTC STC ...

Finance