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Case Study: the car wash built a deluxe car wash across the street from campus, the new machines cost $252,000 including installation. the company estimates that the equipment will have a residual value of $24000. the car wash also estimates it will use the machine for six years or about 12000 total hours. actual use per year was
year hours used
1 3,000
2 1,700
3 1,800
4 2,200
5 2,000
6 1,300
Question: calculate a depreciation schedule for six years using the activity-based method. (round your depreciation rate to 2 decimal places and use this amount in all subsequent calculations.
Bragg Company owns a plant asset that originally cost USD 240,000 in 2006 The asset has been depreciated for three years assuming an eight-year useful life and no salvage value. During 2009, Bragg incorrectly capitalized USD 120,000 in repairs on the..
A corporation has income of $62,000 from operations and a long term capital loss of $5,000 and long term capital gain of $4,000. What is the corporation's taxable income?
The building has an unpaid mortgage of ?200,000. Provide the table and the journal entry to record the contributions of the partners.
Prepare the journal entry for the period's payroll. The payroll register of Seaside Architecture Company indicates $1,940 of social security
Bernice purchased land and a building for use in connection with her business.
How many more years must you live to make the lifetime subscription the better buy? Round your answer to the nearest whole number of years
The appraised market value for each item is $20,000 land, $70,000 buildings, and $210,000 equipment. Traylor should debit the Equipment account for
The rate implicit in the lease is 14% and the PV of an annuity due of l at 14% for 10 periods is 5.95. What is the total financial revenue on January 1, 2021
35% in stock C, and 15% in stock D The betas for these four stocks are 0.79, 1.23, 1.13 and 1.36, respectively. What is the portfolio beta?
Prepare the journal entries for each of the following transactions:
Compute the account balance at the end of the sixth year. Compute the amount of each payment that Linda must make at the end of each of the six years to accumulate the $40,000.
Calculate Luigis Québec Pension Plan contribution on a vacation pay payment of $700.00 for accrued pay when no time was taken
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