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Valley Corporation purchased a new piece of equipment on June 1, 2011. The cost of this machine was $325,000. The company estimated that the machine would have a salvage value of $25,000 at the end of its service life. Its life is estimated at four years and its working hours are estimated at 50,000 hours. Year end is December 31.
Compute the depreciation expense under the following methods. Each of the following should be considered unrelated.
1. Straight-line depreciation for 2011.2. Units of production method for 2011, assuming that machine usage was 13,000 hours.3. Sum-of-the-years'-digits for 2012.4. Double-declining balance for 2012.
Record the journal entries necessary on Crain's books for 2005 assuming that Crain uses the equity method to account for its investment in Downey.
Why does a Treasury bond offer a lower yield than a corporate bond with the same time to maturity? Could a corporate bond with a different time to maturity offer a lower yield? Explain.
What is a "specific investment? Tell us what a "dedicated asset specific investment" would involve in a business transaction? provide a definition of a "site specific investment'?
Show what information Captain Peachfuzz may provide to the auditor about Baddenoff possible claim against Natasha. (Assume that the amount involved is material to Natasha.)
Twelve percent of the containers were not returned. The deposits are based on the container cost marked up 20%. What is cost of goods sold relative to this forfeiture?
Evaluate the standard price per gallon and An unfavorable labor quantity variance is usually not related to material price variance, but it could be if the company purchases poor quality material.
Evaluate the marginal cost per chair to XY of accepting the chair order from ABC? and What assumptions were made in calculating the marginal cost?
On January 31, 2011, we elected to change our costing method for the material component of raw materials, work in process, and finished goods inventory to the lower of cost or market using the first-in first-out (“FIFO”) method, from the lower of cos..
At the end of the year, Multinational will have overfunded their Givonian pensions by about $100 million US dollars. This amount is material with respect to Multinational’s financial statements. How should this overfunding be reflected in Multination..
The Bull Company, a lawn mower manufacturer, is considering the introduction of a new model. The initial outlay required is $22 million. Net cash flows over the 4-year life cycle and the corresponding certainty-equivalents of the new model are as fol..
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
CVP analysis, margin of safety. (CMA, adapted) Arvin Tax Preparation Services has total budgeted revenues for 2014 of $618,000, based on an average price of $206 per tax return prepared. Calculate Arvin's breakeven point and margin of safety in units..
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