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Question - John Smith purchases a machine on July 1, 2018. The machine was purchased on credit for $660,000 ($600,000 + $60,000 GST). The machine has an expected life of 4 years and an expected residual value of $220,000, ($200,000 + $20,000 GST). The machine was sold on January 1, 2021 for $55,000 ($50,000 + $5,000 GST). The company uses straight-line depreciation. Calculate the gain - loss on disposal.
A car was purchased for $1060 down and payments of $260. What was the purchase price of the car? How much interest will be paid?
On October 30, P. Moore unexpectedly pays his account in full to Solstice Company. Record Solstice's entries for recovery of this bad debt
Lessee Company paid P26,450 to Ice cream Company as a lease bonus and P47,980, What amount should be reported as rent income for the current year?
Prepare all journal entries related to the above for the years ended December 31, 20x3 and December 31, 20x4
1 square meter of plywood, and requires 2 hours of carpentry time. What should be the minimum amount of profit contribution per bed to be a viable product?
mr. rosen is the manager of a division of jokkmok industries. he is one of several managers being considered for the
Explain what each doctrine is by providing an example? Your client, Joan, has asked about the differences between the constructive receipt doctrine
Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.)
If the firm did not take discounts but did pay on the due date, what would be average payables and the nominal and effective costs of nonfree trade credit?
Explain goals of an Experience Rating Program, as well as qualifications for participation and what safety incentive programs would you suggest an organization
Using a spreadsheet program like Excel, calculate the NPV and IRR of the following scenario:
Compute the variable overhead rate and efficiency variances for August. At standard, each set of covers should require 5.6 yards of material.
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