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A machine costing $212,800 with a four-year life and an estimated $16,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 492,000 units of product during its life. It actually produces the following units: year 1, 121,600; year 2, 124,000; year 3, 120,100; and year 4, 136,300. The total number of units produced by the end of year 4 exceeds the original estimate-this difference was not predicted. (The machine must not be depreciated below its estimated salvage value.) Required: Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places.) Straight Line Depreciation: Year 1: ? Year 2: ? Year 3: ? Year 4: ? Units of production Depreciable Units Depreciation per Unit Depreciation Expense Year 1 ? ? ? Year 2 ? ? ? Year 3 ? ? ? Year 4 ? ? ?
Prepare an amortization schedule for the Note Receivable using the subsequent columns
Prepare the journal entry to record the issuance of the bonds - Prepare the journal entry to record the payment of interest.
Which of the following is a characteristic of manufacturing overhead in a job order cost system? It is directly traceable to specific jobs or units. It includes the cost of all labor relating to manufacturing operations. It is assigned to units produ..
Discuss the importance of the statement of cash flow. Discuss the decisions that are made based upon this information. Recommend an innovative way that the statement of cash flow may be useful when making business decisions
Describe the roles of the Committee of Sponsoring Organizations, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission in preventing, detecting, and reporting fraud. Distinguish consulting and expert witne..
Identify two reasons for differences in accounting systems around the world according to Nobes. State your own opiion about what the author is saying. Write a prediction of the future. Think ahead to ten years from now. Prepare a classification of ac..
Prepare the journal entries to record tax collections and remittances for the Kirby County Tax Agency Fund and what percentage interest in the pool is held by the town and the school district
on 1 july 2006 abc ltd acquired 75 of the share capital in xyz ltd for 240000 cash.nbsp in addition to the cost of the
calculation of book value of machine.luther soaps purchased a machine on january 1 2007 for 18000 cash the machine has
Prepare a bank reconciliation at July 31, 2007 and Journalize the adjusting entries at July 31 on the books of DeVries Company.
Gen is interested in seeing how the money grows. Her mom suggests that she takes the money in her piggy bank and deposits it in a local bank paying 8.5% compounded quarterly. IF she finds $700 in the piggy bank, how much will it grow to in 10 years?
You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use. Briefly describe the steps you might take to resolve this dilemma.
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