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Question - Agency X acquired a machine on January 1, 2016 for P10,000,000. The machine has an 8-year useful life with 5% residual value and was depreciated using the straight line method. The entity recorded a full year depreciation on the asset in 2016 and 2017. In January 2018, the entity estimated that the useful life of the asset from the date of acquisition should have been six years and the residual value is still 5%. What is the accumulated depreciation on December 31, 2018? How should you apply the change in your financial reports?
Dalton construction contracted to build a bridge for $5,000,000. Construction began in 2010, Make a journal entry to record construction costs for 2010
Explain the meaning of the term "tax-planning strategy" as the term is used in SFAS No. 109.
Explain why accounts receivable management is so important. With that said, let's say we were to own a small business,
Overhead is allocated based on the number of direct materials parts. Calculate the total standard cost of one widget (include the fixed cost component)
Show the journal entries in 2006. (Please be reminded the year-end for ABC Corporate is Dec 31, adjusting is required)
yong contributes a machine having an adjusted basis of 20000 and a fmv of 25000 for a 10 partnership interest. yong had
If BB had used an activity-based costing system to allocate its operating costs in 2017, how much would have been allocated to CD's
Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common.
prepare closing entries given the following abstract of accounts from the general
The cost of capital to the Irish firm for a domestic project of this risk is 8%. The U.S. risk-free rate is 3%; the Irish risk-free rate is 2%. What is CF0 in dollars?
Your local art museum recently purchased a quad-core computer with 16 GB of RAM. The curator read an article about an art collection inventory system software package that could go on the new computer.
The term of the non-cancelable lease is 10 years, with no renewal option. Payments of $120,000 are due on June 30 of each year.
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