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A.X a calendar year taxpayer, purchased equipment for $3,200,000 and placed it in service on March 24, 2011. The equipment was seven-year recovery property and was the only depreciable asset that X purchased during 2011.
a. Compute X maximum cost recovery deduction with respect to the equipment for 2011 Assume 50% bonus depreciation applies.
Which is better for preventing or detecting fraud a rules based system like US GAAP or a principles based system like IFRS? Please provide the reasons for your opinion.
1.company is open 7 days a week and has a daily payroll of 1750. employees are paid every friday december 31 is a
Yearly anutomobile inspections are required for residents of the state of Pennsylvania.Suppose that 18% of all inspected cars in Pennsylvania have problems that need to be corrected.
fleming corporation produces leather purses. the company is setting up a standard cost system and has collected the
Purchased furniture and equipment costing $30,000. A cash payment of $10,000 was made immediately; the remainder will be paid in 6 months.
dinkel manufacturing corporation accumulates the following data relative to jobs started and finished during the month
company a maintains an accounts receivable department that currently employs 8 people. they are interested in doing an
Donald Corporation owns machinery with a book value of $670,000. It is estimated that the machinery will generate future cash flows of $560,000.
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2011.
schrager company has two production departments cutting and assembly. july 1 inventories are raw materials 4200 work in
in 2004 coke reported an increase in accounts receivable of80 million and an increase in inventory of 168 million. they alsoexperience an increase in accounts payable of 225 million and adecrease in accrued income taxes payable of 225 million. cal..
How do the calculation and comparison to previous years of the gross margin percentage and the ratio of accounts receivable to sales are related to the conformation of accounts receivable and other tests of the accuracy of accounts receivable?
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