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Oki Company pays $ 264,000 for equipment expected to last four years and have a $ 29,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $ 22,000 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $ 6,250 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the fourth year, $ 14,870 is paid for repairs expected to increase the useful life of the equipment from four to five years.
Product-cost cross- subsidization is less likely to occur when: a) a single cost pool is used b) little effort is mae to trace cost objects c) a peanut butter approach is used to allocate overhead d) none of the above
hibbett company does not segregate sales and sales taxes on its cash register. its register total for the month is
Griggs Company holds $50,000 of 8% bonds as a held-to-maturity security. Which of the following is the correct journal entry to record the receipt of the semiannual interest payment.
when a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolidation worksheet entry would be made?
Why would a state or local government establish a capital projects fund? What type of project might be considered a capital project? Could operating functions ever be funded with capital projects funds?
rouse company purchased the following stock securities as a long-term investment 300 shares haggle corporation common
calculate the profit volume ratio with the figures given below selling price per unit 69 variable cost per unit ?
Presented below are a number of accounting procedures and practices in Sanchez Corp. For each of such items, list the assumption, information characteristic, principle, or modifying convention that is violated.
selected information from a finanacial statement for two years. compute the percentage change from 2006 to 2007 when
Prepare a production budget by quarters for the first 6 months of 2014. BE 9-2 Palermo Company estimates that unit sales will be 10,000 in quarter 1; 12,000 in quarter 2; 15,000 quarter 3 and 18,000 in quarter 4. Using a price of $70 per unit prep..
on september 1 2011 core companys balance sheet indicates there are 600000 shares of 30 par value common shares in the
In addition, on December 20, 2011, subscriptions for 2,000 shares of preferred stock were taken at a purchase price of $17. These subscribed shares were paid for on January 2, 2012. What should Amelia report as total contributed capital on its Dec..
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