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In 1867, the US Secretary of State purchased Alaska from Russia for $7,200,000 (about two cents per acre).
Problem 1: At the time, the deal was considered a folly (i.e. crazy) but from our perspective today, did the US Secretary of State get a bargain?
Problem 2: What would it cost in 2007 if Alaska was in exactly the same condition as it was 140 years before and the prevailing interest rate over the 140 years was 4%.
Briefly explain the accounting treatment required under appropriate Australian Accounting Standards if they spent money exploring for minerals.
Explain what is involved in a product costing system. Explain why Wilson-West Manufacturing needs to have a product costing system.
During the past year, actual plantwide overhead was $385,000. Each department's overhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data from the St. Falls plant for the past year are as follow..
a. Bargains Company purchases $20,000 of equipment on January 1, 2013.
Financial information is presented below: Operating expenses $62000 and Sales returns and allowances 2000. Determine the gross profit rate
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Explain the purpose of the two accounts: Depreciation Expense and Accumulated Depreciation. (b) What is the normal balance of each account
Determine the amount of interest Jonathan should capitalize as part of the cost of the building in 2008 and 2009. Evaluate the total cost of the building?
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, how to calculate the amount of intangible assets subject to amortization as a percent of the company's total intangible assets
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