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A machine with a cost of $120,000 has an estimated residual value of $15,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours?
Briefly describe when the petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain.
the depreciation expense will appear in which of the following worksheet statement columns? a the income statement
Lomax Enterprises purchased a depreciable asset for $27,500 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $3,100,
Compute the annual depreciation expense for 2006 and 2007, and book value at December 31, 2007, under the straight-line method.
the balance sheet of cattlemans steakhouse shows assets of 87300 and liabilities of 15000. the fair value of the assets
Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes payable for 2010 and 2011. Assume taxable income was $980,000 in 2011.
crystal telecom has budgeted the sales of its innovative mobile phone over the next four months as followssales in
A forensic accountant should acquire a behind-the-scenes understanding of network traffic on the Internet. An understanding begins with Internet protocols. Explain Transmission Control Protocol (TCP) and Internet Protocol (IP).
Compute the static budget variances and the flexible-budget variances for variable and fixed costs for the systems consulting department for June 20X1.
use an excel spreadsheet and the fv pv pmt functions to determine the amount of each of the following rthe annual
During 2009, pension benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2009 was $80,000. Plan assets (fair value) increased during the year by $45,000. Required: Determine the amount of the PBO at D..
a companys income statement showed the following net income 132000 depreciation expense 34000 and gain on sale of plant
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