This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Chrysler Corporation purchased special tools to be used in the assembly process of the Mustang in ... (Read 52 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
on: Jun 24, 2018
Chrysler Corporation purchased special tools to be used in the assembly process of the Mustang in the amount of 7,200,000. The residual value after 3 years was estimated to be 900,000. They used the straight-line method of depreciation for financial statement reporting and MACRS for the amount of depreciation reported to the IRS. a. Which method of depreciation resulted in the largest write-off in the first year? b. How much greater was the write-off using your answer to (a) above?

Question 2

Dundaff Plumbing receives an invoice for an order of copper tubing dated May 15, with terms 5/10, 15 Extra. What is the discount date?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ynlevi

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. MACRS
b. 299,760

Answer to Question 2

9-Jun


arivle123

  • Member
  • Posts: 569
Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

pratush dev

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

The formation of gametes by the process of meiosis is known as gametogenesis. The formation of gametes by the process of meiosis is known as gametogenesis.
The biological process of nitrogen fixation The biological process of nitrogen fixation
Arthroscopic surgery involves the surgery of a joint with the use of a flexible arthroscope and othe Arthroscopic surgery involves the surgery of a joint with the use of a flexible arthroscope and othe
The process of respiration. The process of respiration.
The Mesengenic Process in stem cells The Mesengenic Process in stem cells
Oncosis Process Oncosis Process
Video: Import of Dietary Glucose from Intestines to Bloodstream

For a complete list of videos, visit our video library