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Question - On January 1, 2018, a machine was purchased for $ 105,000. The machine has an estimated salvage value of $ 6,420 and an estimated useful life of 5 years. The machine can operate for 106,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 21,200 hrs; 2019, 26,500 hrs; 2020, 15,900 hrs; 2021, 31,800 hrs; and 2022, 10,600 hrs.
Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods:
1. Straight-line method
2. Sum-of-the-years'-digits method
3. Double-declining-balance method
Question - List the component of classified balance sheet in the proper order in accordance with GAAP from top to bottom
In February, a retail shop purchased golf clubs for $464 per set. The original markup was 37% based on cost. What was the final selling price of the golf clubs
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What annual revenue would be necessary to produce operating income
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standard variable costs relating to a single kit are given below standard quantity standard price standard or hours or
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