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On January 2, 20X1, Machinery Unlimited purchased a second-hand trailer at a cost of €63 000. Before placing the trailer in service, the company spent €2200 painting it, €800 replacing tyres, and €4000 overhauling the chassis. Machinery Unlimited management estimates that the trailer will remain in service for six years and have a residual value of €14 200. The trailer's annual mileage is expected to be 18 000 miles in each of the first four years and 14 000 miles in each of the next two years. In deciding which depreciation method to use, Brett Coombs, the general manager, requests a depreciation schedule for each of the following depreciation methods: (a) straight-line and (b) depletion.
You are asked to:
(a) Prepare a depreciation schedule (i.e. for the six year period) for each depreciation method, showing asset cost, depreciation expense, and asset book value.
(b) For income tax purposes, the company wishes to use the depreciation method that minimizes income tax payments in the early years of as- set use. Identify the depreciation method that meets this requirement.
theta corporation formed 15 years ago. in its first year it elected to use the cash method of accounting and adopted a
Cause the carrying value to be the same as the issue price. Not change the carrying value.
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A complete set of Financial Statements for Nestle Company atDecember 31, 2008 would include each of the followings, EXCEPT:
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on january 1 2009 elva corp. paid 750000 for 80 of fenton co. when the book value of fentons net assets was 800000.
What is a computer based information system? What are its components?
on the basis of the following data journalize the adjusting entries at june 30 the end of the current fiscal year and
the accounting manager has informed you that the cash reconciliation is showing an un-reconciled difference to the bank
read the below article and answer the following questions...a what are the positives of overseas outsourcing?b what are
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