On April 13, 2014, Halifax Co

question 123

Essay

On April 13, 2014, Halifax Co. purchased machinery for $150,000. Residual value was estimated to be $6,000. The machinery will be amortized over 10 years using the double-declining balance method. If amortization is computed on the basis of the nearest full month, calculate the amount Halifax should record amortization expense for 2015 on this machinery. Halifax Co. has a December 31 year-end and adjusting entries are only made at year-end.

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Definitions:

Market Pressure

The influence on a company or industry resulting from changes in market conditions, such as customer demand, competition, or regulatory environment.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

American Companies

Businesses that are incorporated in the United States of America.

Information Overload

A condition in which individuals receive too much information in a way that complicates the ability to understand an issue or make decisions.