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Bonnie Jo used two assets during the current year. The first was computer equipment with an original basis of $15,000, currently in the second year of depreciation, and under the half-year convention. This asset was disposed of on October 1st of the current year. The second was furniture with an original basis of $24,000 placed in service during the first quarter, currently in the fourth year of depreciation, and under the mid-quarter convention. What is Bonnie Jo's depreciation expense for the current year, rounded to the nearest whole number?
Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July the following transactions were completed:
What are some methods a business uses to determine if the activity is value added or not? How do you think business learn from customers (consumers) what is value added and what is not value added?
What are at least 5 considerations you will need to take into account when you make a make-decision versus a buy decision at some point in the future? Explain at least 5 reasons why these risk are important to consider.
The cash register tape for Leprechaun Industries reported sales of $7,783.12. Record the journal entry that would be necessary for each of the following situations: (a) Cash to be accounted for exceeds cash on hand by $52.60.
What additional guidelines requirements are related to ethics are required to ensure consistency of CPAs across the nation? What are some examples of ethics violations?
A manufacturer of thermostats uses a kanban system to control the flow of materials. The packaging center processes 10 thermostats an hour and receives completed thermostats every 30 minutes. Containers hold 5 thermostats each.
SDJ, Inc. has net working capital of $1,570, current liabilities of $4,380, and inventory of $1,875. What is the current ratio? What is the quick ratio?
The bond pay interest on march 1 and septmber1. on october 1,2012,todd copany sold $24,000 of lincoln company bonds acquired on may 1. plus one month accured interest.on december 31,2012, four omnyhs interst was acuured for the remaining bonds. De..
What would be the flexible budget amounts at an activity level of 12,000 machine hours if indirect materials is a variable cost and factory rent was a fixed cost?
What is meant by variance power? Suppose that a charitable foundation receives a gift that the donor specifies must be used to support the college education of a particular individual. Of what relevance is variance power to how the foundation acco..
The differences between the book basis and tax basis of the assets and liabilities at the end of 2008 are as follows: What is the journal entry to record income tax expense, deferred income taxes, and income tax payable for 2008?
Before preparing financial statements for the current year, the chief accountant for Springer Company discovered the following errors in the company accounts:
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