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Question - Myers Inc. purchases a piece of equipment. At the date of purchase, the equipment had the following characteristics:
Cost 800,000
Estimated useful life 8
Estimated salvage value 20,000
Productive life in hours 10,500
a) Assume the equipment was purchased on January 1, 2014 and the firm used double declining balance for depreciation. How much depreciation expense is recognized during 2015?
b) Assume the equipment was purchased on July 1, 2014 and the firm used the straight line method of depreciation. How much depreciation expense is recognized during 2014 assuming a 12/31/14 fiscal year end?
What is the market value (Cash Proceeds) of each of the following bond issues - 10% bonds of $1,000,000 sold on bond issue date
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as part of a major renovation at the beginning of the year hauser pharmaceuticals inc. sold shelving units store
2. Cash dividends of $9,000 were declared and paid in 2014. 3. Land was sold for cash at a loss of $7,000. This was the only land transaction during the year.
Use this information to determine the dollar amount that Brunswick will report on its fiscal year 2018 Balance Sheet for Paid in Capital Treasury Stock
compute the total amount to be reported by Langrova for intangible assets on its balance sheet at December 31, 2010. Equipment has alternative future use
Ben would like to use an inventory system that minimizes inventory cost and will satisfy 95 percent of his customers who order this wine. a. What is the economic order quantity for Ben to order?
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The balance of mortgage payable at a given balance sheet date will be reported as a long-term liability.
Use the following selected data from Business Solutions' income statement for the three months ended March 31, 2012, and from its March 31, 2012, balance sheet.
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