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The following data relates to ABC Inc. for the year
Opening cost of equipment $ 600000
Opening accumulated depreciation of equipment $ 300000
Purchases of equipment during the year $ 360000
Gain or Loss (-) on sale of equipment $ -12000
Depreciation expense for the year $ 6000
Ending cost of equipment $ 111000
Ending accumulated depreciation of equipment $ 15000
There were no other transactions impacting long term assets during the year.
Question 1: Calculate Investing Cash Flows for the year.
Prepare journal entries for all dates. Present journal entries for the Tempe bonds (a, b, d, f), then journal entries for the Flagstaff bonds (c, e, f).
Discuss the qualitative concept of comparability. In your opinion, would the financial statements of companies operating in one of the foreign countries listed above be comparable to a U.S. company's financial statements? Explain.
kabana company a manufacturer of stereo systems started its production in october 2012. for the preceding 3 years
His Form 1099 reported that $860 was a qualified dividend and $360 was a nontaxable distribution. Compute his basis in his 780 shares at year-end
the purple martin has annual sales of 687400 total debt of 210000 total equity of 365000 and a profit margin of 4.80
beverly hills started a paper route on january 1 1995. every three months she deposits 300 in her bank account which
Compute the depreciation expense for each of the four years.
the following data in thousands of dollars have been taken from the accounting records of the maroon corporation for
The average remaining service period of Shin's employees is 7.5 years. Compute Shin's minimum amortization of pension loss.
a small company maintains a petty cash fund for minor expenditures. in june and july 2011 the following transactions
Koffman and Sons signed a four-year lease for a forklift on January 1, 2014. Annual lease payments of $1,510, based on an interest rate of 8%, are to be made every December 31, beginning with December 31, 2014.
Variable manufacturing costs in ending inventory $25,000. What is the product cost per unit of ending inventory for external reporting
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