Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2021, damme, corp. purchased a new c

On January 1, 2021, Damme, Corp. purchased a new conveyor belt for $566,000. The estimated...

80.2K

Verified Solution

Question

Accounting

On January 1, 2021, Damme, Corp. purchased a new conveyor belt for $566,000. The estimated salvage value of this new equipment is $35,000 and its estimated useful like is 11 years or 3,000,000 units transported. The new belt transported 164,000 units in 2021 and 262,000 units in 2022. Based on these numbers, what will Damme, Corp. report as accumulated depreciation on December 31, 2022 if it uses the units-of-production method?

$96,545

$46,374

$75,402

$187,107

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

Lowell Inc. has no debt and its financial position is given by the following data: Assets (book =...

Finance
Q

A) A sample of solid copper is heated with an electrical coil. If 72.4 Joules of...

Chemistry
Q

You need to prepare an acetate buffer of pH 5.55 from a 0.654 M acetic acid...

Chemistry
Q

A wire with a length of 150 m and a radius of 0 15 mm...

Physics
Q

What is the momentum of a 92 kg football player who is moving at 6.2...

Physics
Q

A sample of 15 measurements of the breaking strengths of cotton threads gave a mean...

Basic Math
Q

15 of 15 Simplify c 5c 14 c 3c 10 1 c 7 c 7...

Algebra
Q

Simplify the algebraic expression.7(3y-5)+ 4(5y + 3)

Algebra
Q

The charter of a corporation provides for the issuance of 95,225 shares of common stock....

Accounting
Q

In the year 2016, the internal auditors of Goofy Co. discovered that goods costing $25...

Accounting
Q

audit questions The W Wallace 2004 paper discusses key...

Accounting
Q

1. 2. 3. 4....

Accounting