ACC 304 Week 5 Midterm Part 2
construction of the building. In addition, the company had outstanding all year a 10 %, 3-year, $ 4,800,000 note payable and an 11 %, 4-year, $ 9,000,000 note payable.
What are the weighted-average accumulated expenditures?
35) Which of the following is a capital expenditure? ===============================================
ACC 304 Week 5 Midterm Part 2
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ACC 304 Week 5 Midterm Part 2
1) 1) A machine which cost $ 300,000 is acquired on October1, 2014. Its estimated salvage value is $ 30,000 and its expected life is eight years.
a) Calculate depreciation expense for 2014 and 2015 by doubledeclining balance b) Calculate depreciation expense for 2014 and 2015 by sum-ofthe-years-digits c) At the end of 2015, which method results in the larger accumulated depreciation amount?
2) Assume in each case that the selling expenses are $ 8 per unit and that the normal profit is $ 5 per unit. Calculate the limits for each case. Then enter the amount that should be used for lower of cost or market