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Problem - Summary financial information for Paragon Company is as follows.
Dec. 31, 2014
Dec. 31, 2013
Current assets
$200,000
$220,000
Plant assets
1,040,000
780,000
Total assets
$1,240,000
$1,000,000
Required - Compute the amount and percentage changes in 2014 using horizontal analysis, assuming 2013 is the base year.
What journal entry would Wolf Creek make on December 31, 2014, if it uses straight-line depreciation
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