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XYZ purchases factory machine at a cash price of $70,000 . Related expenditures are sales taxes $2000, Insurance after the installation is $1,500, Installation and testing $500, Salvage value is $500. Useful life of the machine is 5 years. Problem a. Compute the component costs of the machine
Problem b. Compute the total costs of the machine
Problem c. Using straight line method, how much will be the annual depreciation cost?
Problem d. What is the book value of the machine at the end of the 3rd year?
Problem e. What is the book value of the machine at the end of the 4th year?
Treasury stock for $9.75 per share. Assuming the shares were purchased and retired, prepare the journal entry to record the retirement of the shares.
Determine the amount of manufacturing overhead. Depreciation on a factory building$4,650 Telephone expense in factory office$940
Warner Company received $48,000 cash in advance for services to be performed over the one-year period from September 1, 2015 through August 31, 2016. Using a horizontal financial statements model, which of the following statements does not correctly ..
Under a periodic inventory system , determine the cost of inventory on hand at march 31 and cost of goods sold for march under first-in, first-out
Should the president be enthralled with the new controller? Explain your answer. What does the term LIFO liquidation mean
Factoring receivables is beneficial to a seller for all of the following reasons except: Allows firms to receive cash earlier. Passes ownership of the receivables to the factor. There are no fees for factoring. Seller avoids the cost of billing and a..
after which the company will keep a constant growth rate forever. Illustrate what is the price of this stock today given a required return of 12 percent?
Assume that the freight terms were FOB shipping point and that the credit terms were 1/10, n/30. Determine the invoice amount of the merchandise
What are the fundamental types of long term financing available to the company, feature, pros and cons of each long term financing for traditional technic
Investments include $120,000 of trading securities, $180,000 of debt securities with a maturity date of January 15, 2014, and $140,000 of money market funds.Prepaid rent relates to an advance payment for the period from January 1, 2013 - August 31, 2..
The bonds have a $1,000 par value, and the coupon interest rate is 10%. The bonds sell at a price of $750. What is their yield to maturity? Show your work
Under the direct write-off method, when $200 is determined to be uncollectable, the journal entry would be? statements about unpresented cheques is correct?
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