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Problem 1: The net book value of the plant asset at the start of the year is ?480,000. The depreciation rate is 2% per year. The net book value at the end of the year is ?470,000. If there are no additions nor disposals of assets, the depreciation expense would be:
a. ?9,800b. ?500,000 c. ?10,000 d. ?200 Problem 2: The enterprise has sales for the year amounted to ?50,000, gross profit based on cost is 150%, beginning inventory is ?10,000 and purchases amounted to ?40,000. How much is the ending inventory?
a. ?16,667 b. ?30,000 c. ?33,333 d. ?20,000
The monthly payment on a 1,000,000 15 yr. mortgage at 6% is 8,438.57 per month. How much of that 1,000,000 on day 1 is deemed to be "current portion of mortgage payable"?
Franklin completed production on 4,400 units of product. Determine amount of ending inventory balance that would appear on December 31, 2018, balance sheet
What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round intermediate calculations)
Evaluate life insurance products, annuities, and charitable giving for possible estate tax advantages in the taxable estate or in the children’s estate, while finding use of the cash flow from the sale and the real estate business. Recommend a charit..
Explain how Christine should treat each of the five transactions listed above according to the appropriate accounting concepts and Christine has been supplying nurses to a small, private hospital for three months but has not yet received her commiss..
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Eckert Company is involved in producing and selling high-end golf equipment.The company has recently been involved in developing various types of laser guns to measure yardages on the golf course.
What is stand-alone, corporate, and market risk? What is the relevance of risk measures in the financial decision-making process? what are the different types
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Record entry and depreciation expense on December 31 2020. On June 4th 2020, Kelly Co. traded equipment with a book value of $23,000
Lance decided to sell it on e-Bay and only received. What was Lance Murdock's rate of return, that is, the value of i? Enter a negative percentage for a loss.
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