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Apex Fitness Club uses straight line depreciation for a machine costing $ 23,860, with an estimated four year life and a $ 2,400 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $ 2,000 salvage value.
Compute:
(1) The machine's book value at the end of its second year
(2) The amount of depreciation for each of the final three years given the revised estimates.
relationships between financial statement items. shareholder made new contribution of 25.00 to the company during the
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Salaries paid during the year amounted to $ 580,000; police officers earned an additional $ 12,000 during December that will be paid in January.
alice and jon harrison operate two full-service dry cleaning outlets in the st. louis metropolitan area. one of the
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Kleener Co acquired a new delivery truck at the beginning of its current fiscal year. The truck cost 26,000 and has an estimated useful life of four years, and an estimated salvage value of 4000.
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tanning company uses the percentage of receivables method for recording bad debts expense. the accounts receivable
Determine whether or not the measurement of net income for a merchandising company conceptually is the same for a service company.
What types of value would you consider when assigning "value" to a firm's stock or bond? What is the significance of each of the different types of value in the valuation process? Use examples to support your response.
purchased land and a small office building for a total price of 90000 of which 35000 was the value of the land and
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