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At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. Depreciation for 2011 and 2012 was calculated using the straight-line method, a 25-year useful life, and a $1 million residual value. In 2013, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively. Assume that 2011 depreciation was incorrectly recorded as $32,000. This error was discovered in 2013.
What is depreciation on the building for 2013 assuming no change in estimate of useful life or residual value?
Suppose there are 360 business days in the year. What was the number of days' sales outstanding in average receivables and the number of days' sales outstanding in average inventories for 2011, respectively.
what is an example of a potentially unethical accounting situation?why is the situation unethical?how do ethics affect
private college transactions. elizabeth college a small private college had the following transactions in fiscal year
Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of allowance for doubtful accounts at December 31,2011?
calculate the gross profit percentage and the net income percentage for the income statement of harvey company round to
A complete set of Financial Statements for Nestle Company atDecember 31, 2008 would include each of the followings, EXCEPT:
Calculate the profit margin return on sales for each firm. Youre your work. Based on the profit margins (returns on sales), which division is superior?
a. Prepare an incremental analysis for the decision to make or buy the wheels. b. Should Collier Bicycles buy the wheels from the outside supplier? Justify your answer.
The petty cash fund of Western Glass Company contained the following items on November 30, 2009: Prepare the journal entries to establish the petty cash account and to replenish the fund at the end of November.
Big Corporation distributed land to its sole shareholder, Little Corporation, in a liquidating distribution. At the time of the distribution, the land had a fair market value of $240,000 and Big Corporation's adjusted basis in the land was $200,00..
A capital lease or an operating lease and what can Wright do to convert this lease to an operating lease
what is the companys quick ratio? possible answers 0.7 1.2 1.5 2.5. assets cash is 4000 accounts receivable is-10150
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