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Question - Mountain View Resorts purchased equipment at the beginning of 2021 for $49,000. Residual value at the end of an estimated four- year service life is expected to be $7,300. The machine operated for 2,400 hours in the first year and the company expects the machine to operate for a total of 12,000 hours over its four-year life. Calculate depreciation expense for 2021, using each of the following depreciation methods: (1) straight-line, (2) double-declining- balance, and (3) activity-based.
The records of Nevada Co. indicated that $420,000 of merchandise should be on hand on December 31, 2010. The physical inventory indicates that $370,000 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage ..
Local Co. has sales of $10.9 million and cost of sales of $5.6 million. What is Local operating margin. What is Local's net profit margin
An asset is acquired at a cost of $10,000 with a five-year life and no anticipated salvage value. Straight-line depreciation is considered appropriate.
Calculate a revised profit for the year and the basic earnings per share - The market value of each share on this date was £1.30
Horatio Ltd. uses job order costing to measure and track product costs. Horatio has determined that machine hours drive its manufacturing overhead costs. During the month of June, the following data were available for Product #80:
Action Company incurred transaction costs amounting to P45,000 for the property. What is the cost of acquiring the property
The tax rate is 30%. What is the tax shield (annual cash saving based on tax) that the company can apply as a cash flow in its NPV calculation?
End of the year in a savings account that pays 3.5% interest, compounded annually. How much will your account be worth at the end of 25 years?
What is the controller's responsibility with respect to a president who doesn't know much accounting?
Briefly describe the P/E approach to stock valuation and note how this approach differs from the variable-growth DVM. Describe the P/CF approach.
Robins Inc. changed from the LIFO method of inventory pricing to the FIFO method. Explain how this change in accounting principle should be treated in the company's financial statements.
Quality Diamonds carries only one brand and size of diamonds - all are identical. Which cost flow method should Quality Diamonds select
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