Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 01 Aug 2017 My Price 9.00

straight-line depreciation

Three different companies each purchased a machine on January 1, 2008, for $42,000. Each machine was expected to last five years or 200,000 hours. Salvage value was estimated to be $2,000. All three machines were operated for 50,000 hours in 2008, 55,000 hours in 2009, 40,000 hours in 2010, 44,000 hours in 2011, and 31,000 hours in 2012. Each of the three companies earned $30,000 of cash revenue during each of the five years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.

Calculate the Net income for the following companies for 2008?

Net Income
Company A $ 
Company B $ 
Company C $

Calculate the Net income for the following companies for 2010?

Net Income
Company A $ 
Company B $ 
Company C $ 

Requirement 3:
(a) Calculate the Book value for the following companies from the year 2008, 2009 and 2010?

Book value
Company A $ 
Company B $ 
Company C $ 

Requirement 4:
(a) Calculate the Retained earnings for the following companies for the year 2011? (Round your answers to nearest dollar amount)

Retained earnings
Company A $ 
Company B $ 
Company C $

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Aug 2017 07:08 PM My Price 9.00

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