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American Movieplex, a large movie theater chain, leases most of its theater facilities. In conjunction with recent operating leases, the company spent $28 million for seats and carpeting. The question being discussed over breakfast on Wednesday morning was the length of the depreciation period for these leasehold improvements. The company controller, Sarah Keene, was surprised by the suggestion of Larry Person, her new assistant.
Keene: Why 25 years? We've never depreciated leasehold improvements for such a long period.
Person: I noticed that in my review of back records. But during our expansion to the Midwest, we don't need expenses to be any higher than necessary.
Keene: But isn't that a pretty rosy estimate of these assets' actual life? Trade publications show an average depreciation period of 12 years.
in the fourth quarter of 2011 eurofit cycling a bike shop had the following net
a. What is the flexible-budget amount? b. What is the amount of fixed overhead allocated to production? c. What is the fixed overhead production-volume variance? d. Determine the fixed overhead's overallocated or underallocated amount.
using the appropriate interest table compute the present values of the following periodic amounts due at the end of the
Long Term Liabilities and Noncollectable Accounts
The maximum deduction for the current year is
What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
baker company is trying to determine how often it needs to deposit payroll taxes for calendar year 2013. the company
Alex owns an office building which the state condemns on January 15, 2010. Alex receives the condemnation award on April 1, 2010. In order to qualify for nonrecognition of gain on this involuntary conversion,
At December 31, 2007 and 2008, Sloan Corp. had outstanding 2,000 shares of $100 par value 8% cumulative preferred stock and 10,000 shares of $10 par value common stock. At December 31, 2007, dividends in arrears on the preferred stock were $8,000...
streit inc. provides business security systems. in an effort to increase revenue the sales manager has begun
An investor owns a call option on bond X with a strike price of 100. The coupon rate on bond X is 9% and has 10 years to maturity. The call option expires today at a time when bond X is selling to yield 8%. Should the investor exercise the call op..
in 2013 ryan management collected rent revenue for 2014 tenant occupancy. for financial reporting the rent is
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