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On September 14, 2015, Jay purchased a passenger automobile that is used 75 percent in his accounting business. The automobile has a basis for depreciation purposes of $43,000, and Jay uses the accelerated method under MACRS. Jay does not elect to expense under section 179. a. Calculate Jay's depreciation deduction for 2015 assuming no bonus depreciation. b. Assuming the same business percentage (75 percent) in 2016, calculate Jay's depreciation deduction for 2016.
Using information in the financial statements as originally reported in Exhibits 5.36-5.38, compute the value of Beneish's manipulation index for fiscal Year 5 and Year 6.
How does Nike, Inc. address depreciation? How is it handled, and what happens if they have estimated useful life incorrectly? How do the notes in Nike, Inc.'s Form 10-K discuss impairments, and how do they handle these in their records?
The Discount amounts in cells D4, D5, D6 and D7 are computed using the IF function. The discount amount in column D should equal the Discount % from the assumptions area multiplied by the Sales figure from the column B if the corresponding Sales in c..
Assuming that the business had been following the direct write-off procedure in accounting for uncollectible receivables, journalize the entries to record the following.
The estimate for 2011 is subject to year-end adjustment. What amount, if any, of expense should be reflected in Post's quarterly income statement for the three months ended March 31, 2011?
My-Best Weight Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2012, the end of the current fiscal year, the balances of selected accounts from the ledger of My-Best ..
Assume management has not yet corrected this error-What is the corrected amount for total assets and net income for the year? With calculations and explanations.
Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered.
existing customers through its sales force. On January 15, 2011, SSI purchased software to be used specifically in the research process. This particular software had an alternative use in that it could be licensed to and used by others.
calculate the amount of bond discount or premium, if any. (Do not round your intermediate calculations and round your final answers to whole dollar amount. Omit the "$" sign in your response.)
Horizon Corporation manufactures personal computers. The company began operations in 2002 and reported profits for the years 2004 through 2009. Due primarily to increased competition and price slashing in the industry, 2010's income statement reporte..
On January 2, 2017, Grando Company sells production equipment to Fargo Inc. for $50,000. Grando includes a 2-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on January 2, 2017. Repe..
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