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An equipment was acquired for 3,000,000 on Jan. 1, 2018. It is being depreciated to a salvage value of 400,000 over 10 years. It has the following revaluation details: (A) Jan. 1, 2021 - Replacement cost of 4,100,000 and remaining useful life of 7 years, (B) Jul. 1, 2026 - Replacement cost of 3,500,000 and remaining useful life of 3 years.
Question 1: After recording the depreciation as of Jul. 1, 2026, what is the journal entry to record the change in revaluation using the proportionate method? How much should be (debited) or credited to revaluation surplus? Solutions must be in good accounting form.
Gundy Company expects to produce 1,314,000 units of Product XX in 2020. Monthly production is expected to range from 87,000 to 127,000 units
Determine the company's financial health. (Note: Suggested ratios include, but are not limited to, current ratio, quick ratio, earnings per share, and price earnings ratio.)
Prepare the operating section of Realtree Supplies' cash flow statement for the year ended December 31, 2021, using the indirect method.
To launch the company, Jenna Aracel, the owner, invested $215,000 cash, office equipment with a value of $8,700, and $74,000 of drafting equipment in exchange for common stock. The company purchased land worth $55,000 for an office by paying $9,400 c..
Accounts Payable decreased $ 3 , 000 and $ 9 , 000 , respectively . Using the indirect method , how much cash was provided by operating activities?
What is the 18-month zero rate? The six-month and one-year zero rates are 9% and 10% per annum. For a bond that has a life of 18 months and pays a coupon of 7%
Benezra Enterprises, Inc. has a plant capacity that can produce 4,000 units annually. What is the current operating profit
How much will Oxford Engineering's total profits change if they decide to buy the starter assembly from Tidnish Electronics instead of making it themselves?
Suppose that you enter the initial margin is Rs. 4000 & the maintenance margin is Rs. 3000. At what spot price level of silver will a margin call occur?
Discuss why cash is inherently a high-risk item on the balance sheet but not as high a risk to the actual audit program itself. Consider these questions: When is cash a high risk, and when is it a low risk? What are possible outcomes of re-performing..
Find What is the price (expressed as a percentage of the face value) of a one-year, zero-coupon corporate bond with a AAA-rating? (Round to the nearest cent.)
State the reason why an adjustment or disclosure may or may not be required in the 30 June 2020 financial statements. Assume the above events
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