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Question 1 - On January 1, 2022, Kyle Co. purchased an equipment for P15,435,000. The equipment had been depreciated using the straight-line method with residual value of P945,000 and useful life of 18 years. On January 1, 2024, the entity determined that the remaining useful life is 8 years and the residual value is P1,370,000. What is the depreciation for 2024?
Question 2 - On January 1, 2022, Leo Company purchased a machine for P8,500,000 and depreciated it by the straight line using an estimated life of 14 years with P450,000 salvage value. On January 1, 2024, Leo determined that the machine had a remaining useful life of 8 years with no salvage. An accounting change was made in 2024 to reflect these additional data. How much is the depreciation for the year 2022?
Assume that Culver Company sells the same number of units in 2017 as it did in 2016. What would the selling price have to be in order to reach the stockholders
On January 1, 2011 Piper Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Calculate the issue price of the bonds.
You estimate that you would be needing $90,000 to send your daughter to University in nine years. At what rate will you just reach your goal
What was the total amount of cash that was paid to the bank on Feb 28, 2012 for principal and interest? What was the amount of interest expense paid
Five years and then assume a stable annual growth rate of 6%. What is the value of a firm.
Prepare a memo to Boom Inc's president describing the expansion and boom phases of a business cycle
Calculate the net present value with a required return of 8%, an initial investment of $45,000, and cash flows of $12,000; $20,000, $10,000, and $6,000
Office? Supplies, had a beginning balance of $3,700. Supplies Expense for the accounting period is $4,200. What is the ending balance of Office? Supplies?
Delray Technology is considering these two alternatives to finance its construction of a new $2 million plant:
Problem - Prepare a journal entry on December 23 for the withdrawal of $20,000 by Steve Buckley for personal use
Straight-line method of depreciation for this equipment. Assuming a 30% tax rate, the cumulative effect of this accounting change, net of tax, is
the following transactions apply to baker co. for 2010 its first year of operations.1. issued 170000 of common stock
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