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Equipment acquired on january 6, 2013, at a cost of $425,000 has estimated useful life of 16 years and an estimated residual value of $65,000 A. what is the annual amount of depreciation for the years 2013, 2014, and 2015 using the straight-line method of depreciation? b. what is the book value of the equipment on Jan 1, 2015? c. Assuming that the equipment was sold on Jan 3, 2016 for $340,000, journalize the entry to record the sale. d. assuming that the equipment had been sold on Jan 3 2016, for 372,500, instead of 340,000, journalize the entry to record the sale.
You have $1,000 and have two options: put the $1,000 in a coffee can at the back of your pantry or invest the money and earn a 5% return. Which one is better? How much will you have in one year under each alternative?
After attending your seminar about life insurance planning, she has come to you to determine whether she has enough life insurance. Besides the small disability check that her husband receives, she is the only source of income-albeit a good income..
Please devote at least 1 paragraph to the ethical considerations of costing methods.
boston galleries uses the specific identification method for inventory valuation. inventory information for several oil
In August, Gold Company sold 770 units of their only product. For the month, fixed costs were $10,400, variable costs were 57% of sales, and the average sales price was $62.
a company puts four products through a common production process. this process costs 100000 each year. the four
Discuss the key factors that should be considered when determining whether an item should be expensed. Speculate how Joe Carter arrived at his decision to expense the carpets replaced in the apartments.
For five years, clothing makers and marketers Style-One Corporation and Trend Now, Inc., both use the phrase "Looks Great" on their labels. Style-One files a suit against Trend Now, claiming trademark infringement.
Determine the equivalent units and costs per equivalent unit for materials and conversion costs. Are the ending balances in the WIP and Finished Goods inventory as shown correct? If they are not correct, what should the ending balances be?
1. Machine A was purchased for $50,000 on January 1, 2005. Straight-line depreciation has been recorded for five years, and the Accumulated Depreciation account has a balance of $25,000. The estimated residual value remains at $5,000, but the service..
vaughn company sells fishing poles for 35 each and uses the perpetual inventory system. the following information is
Use the HLOOKUP function in cell H11 to calculate freight cost based on the shipping class and state to which the shipment is going
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