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Question - On January 1, 2017 Nash Co. purchased a building and equipment that have the following useful lives, salvage values and costs
Building- 40 years estimated useful life, $48000 salvage value, $814400 cost
Equipment- 12 years estimated useful life, 10400 salvage value, 95000 cost
The building have been depreciated under the double-declining balance method through 2020. In 2021 the company decided to switch to the straight-line method of depreciation. Nash also decided to change the total useful life of the equipment to 9 years, with a salvage value of $5,200 at the end of that time. The equipment is depreciated using the straight-line method.
Required -
(a) Prepare the journal entry necessary to record the depreciation expense on the building in 2021.
(b) Compute depreciation expense on the equipment for 2021.
Question - Budgeted sales for the Corporation for the first quarter the year are shown below: What quantity of production should be scheduled for February
an investor sells short 200 shares of stock at 15 per share. the initial margin requirement is 60. the investor earns
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Movelt Corporation is the world's leading express-distribution company. In addition to the world's largest fleet of all-vargo airraft the company has more than 54,000 ground vehicles that pick uo and deliver packages.
Prepare journal entries for each of these transactions. Prepare all adjusting entries required on December 31
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Module Overview- Recording and Reporting financial information. You are to record these financial transactions as journal entries
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