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Natalie is also thinking of buying a van that will be used only for business. The cost of the van is estimated at $38,500. Natalie would spend an additional $2,500 to have the van painted. In addition, she wants the back seat of the van removed so that she will have lots of room to transport her mixer inventory as well as her baking supplies. The cost of taking out the back seat and installing shelving units is estimated at $1,500. She expects the van to last her about 5 years, and she expects to drive it for 100,000 miles. The annual cost of vehicle insurance will be $2,400. Natalie estimates that at the end of the 5-year useful life the van will sell for $6,500. Assume that she will buy the van on August 15, 2021, and it will be ready for use on September 1, 2021.
Natalie is concerned about the impact of the van's cost on her income statement and balance sheet. She has come to you for advice on calculating the van's depreciation.
Problem (a) Determine the cost of the van
If executive stock options or restricted stock are outstanding when calculating diluted EPS, what are the components of the "proceeds" that are assumed to be available for the repurchase of shares under the treasury stock method?
Present a trial balance to show the balancing of accounts. Journalize the following December 2015 transactions in the computerized accounting system selected.
Peter found that a US Treasury callable bond is priced at 100.125, paying a coupon rate of 9.125%, but has a -2.15% YTM. Explain how this is possible.
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Congress would like to increase tax revenues by 7 percent. Assume that the average taxpayer in the United States earns $42,000 and pays an average tax rate of 10 percent. If the income effect is in effect for all taxpayers, what average tax rate will..
What the carrying amount of the building as of December 31, 2019? Duran Corporation acquired a building on January 1, 2015 at a cost of P50,000,000.
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Explain how Span Constructions Ltd should account for these costs. Support your answer with appropriate reference to AASB 15.
Explain what impact the change in the currency exchange rate would have on the project's internal rate of return under this assumption.
Evaluation of Current price per share and Supernormal Growth Dividend
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