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Question -
a. Freeloads Corp. purchased a $350,000 machine on January 1, 2003, with an expected total useful life of 20 years and a salvage value of $30,000. Calculate the annual depreciation expense under the straight-line method.
b. On 1/1/2005 Freeloads Corp. spends $25,000 in a capital improvement to upgrade the machine frame and correspondingly revises the estimate of the residual value to $33,000 and the estimate of total useful life to 27 years. Calculate the straight-line depreciation for 2005.
c. On 2/1/2006 Freeloads Corp. spends $1,000 cash on regular repairs and maintenance of the machine. What's the financial statements effect?
which of the following would not be categorized as current assets?1. stocks2. debtors3. plant and machinery4. cash in
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Each student will be responsible for presenting a synopsis/review of one journal article and facilitating a brief class discussion pertinent to the article. The article must pertain to diversity in the workplace. A written synopsis of the article ..
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