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Question - Dickinson Inc. owns the following assets.
Asset
Cost
Salvage
Estimated Useful Life
A
$70,000
$7,000
10 years
B
50,000
5,000
5 years
Compute the composite depreciation rate and the composite life of Dickinson's assets.
In what category of the statement of cash flows should the following items be shown? Should they appear as a positive or negative amount on the statement of cash flows?
1.Consider the question of whether the United States should converge accounting standards with IFRS.
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Prepare Pharoah Company's journal entries to record the sale of the equipment in these four independent situations
Why is it required for governments to record the budget using standard journal entries?
The cash register total including sales taxes is $42,000, and the sales tax rate is 5%. What is the sales taxes payable?
What is the overall completion percentage for the WIP as to direct materials at the end of period?
Explain how a parent-subsidiary controlled group differs from an affiliated controlled group. Develop examples of each to illustrate the differences.
Francis Company has 24,000 shares of common stock outstanding at the beginning of 2013. Francis issued 3,000 additional shares on May 1 and 2,000 additional shares on September 30.
Discuss the roles of the GASB, the FASB, and the AICPA in standards setting for G&NP organizations.
Why would a tax payer think of forming a partnership type of business, as compared to a corporation? What do you think about general partnership, limited partnership, LLC, LLP and family partnership?
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