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Question - A. Alex purchased a CNC machine on 1st October 2019 at a cost of $110,000 (including GST). This machinery is estimated to have a useful life of seven years.
B. Alex purchased a Holden car on 1 May, 2019 at a cost of $63,000, estimated to have a useful life of five years.
Required - With reference to relevant legislation and case law, discuss and calculate what amount is allowed as a deduction for the decline in value of the machinery and the Holden car discussed above, using both prime cost and diminishing value methods.
The firm estimates total direct labor cost for the year to be $2,127,500. Compute the firm's predetermined overhead rate
Required: Assuming an income tax rate of 30%, what amount of Deferred Income Tax Liability arising this year must be recognized in consolidated balance sheet
In a memo to the audit manager, Mitch Riley, explain your reasoning. Include any necessary journal entries and drafts of appropriate disclosure notes.
Sections 5063 through 5063.2 of the California accountancy act require that cpa's report certain legal issues to the board of accountancy.
What is the difference between an industry and a market, which primary and secondary information tell you whether the industry is growing
A change in the loss rate on warranty costs is a: a) Change in accounting principle b) Change in accounting estimate c) Change in reporting entity D) Error correction.
The employee has $95 in federal income taxes withheld. What is the amount of this employee's net pay for the first week of January
Question - Plant Assets Ethics Activity - What is the proper accounting treatment for: (1) repairs and maintenance and (2) plant assets
The Enron debacle created what one public official reported was a "crisis of confidence" on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your ch..
banking sector plays vital role in the capitalist economies all over the world especially this role also gets
How would you model explicitly these two factors' impact on equities A and B? What assumptions will be required to assure general applicability of the standard APT framework to this model?
Define and explain mark-to-market accounting approach and give examples where Enron's management / accountants perhaps misused this approach to portray a rosy
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