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Question - Please use an Excel sheet to complete the following two questions:
1) Your company purchased a $38,000 machine which will last 3 years and has a salvage value of $2,000 on January 1, 20x1. Compute the depreciation expense on a straight-line basis, the accumulated depreciation balance, and prepare journal entries for the same as of December 31, 20x1.
2) Your company decided that it will sell the asset on December 32, 20x2, at the end of the year following the purchase of the asset, for $10,000. Prepare the journal entries to record the sale of the asset including any gain or loss which may or may not be present.
Required: What is the external financing needed? (Do not round your intermediate calculations.)
The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year. What is the total cost of ending inventory.
Accounting and Audit Enforcement.
Determine the standard cost per faucet for direct materials and direct labor. Round the cost per unit to two decimal places.
Evaluate how these processes impact the company's costs. Prepare an income statement for the lower range guitars to answer this question
For the year ended December 31, 2013, What is the amount that needs to be recorded for estimated bonus liability for 2013
When a process costing system is used, explain how the normal and abnormal spoilages information influences on.
Scores on a test have a mean of 71 and the score of 80 falls at the 75th percentile. The socres have a distribution that is approximately normal. Find the score that at the 39th percentile.
based on the following production and sales data of concrete co. for marchof the current year prepare a a sales budget
1. The proprietorship form of business organization 2. Most business enterprises in the United States are 3. A business organized as a separate legal entity is a
What entry should Dairy Treats make on January 1, 2018 to record receipt of the initial franchise fee and the continuing franchise fee for 2018?
Sidman Products' stock is currently selling for $60 a share. The firm is expected to earn $5.40 per share this year and to pay a year-end dividend of $3.60.
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