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On 2009 August 31, Hutch Company sold a truck for USD 6,900 cash. The truck was acquired on 2006 January 1, at a cost of USD 17,400. Depreciation of USD 10,800 on the truck has been recorded through 2008 December 31, using the straight-line method, four-year expected useful life, and an expected salvage value of USD 3,000.
Prepare the journal entries to update the depreciation on the truck on 2009 August 31, and to record the sale of the truck.
Explain why Believer believes this lease should be categorised as a finance lease. You should refer to relevant international accounting standards to justify your answer.
Calculation of Different Variances - Determine the following variances and indicate whether each is favorable or unfavorable.
use the data below to answer the questions that follow. assume that the company uses the periodic inventory system.
Retail and wholesale grocery company
Rosen should be seriously considered for the CEO position and discuss three shortcomings of the absorption approach for internal decision-making
Prepare the adjusting journal entry needed on December 31, 2012 and prepare the journal entry to record the sale of the Carolina Company stock during 2013.
Build a spreadsheet:Construct an Excel spreadsheet to solve the preceding requirement. Show how the solution will change if the following information changes: actual output was 13,350 cases, and actual variable overhead was $609,000.
calculation of current assets total assets amp net income.calculate 1 current assets 2 total assets 3 net income based
The Note Payable was issued on December 1, 2011. The terms of the note state that the principal and interest is to be paid two years from the issuance date. The interest rate stated on the note is 3 percent.
Assume the company’s minimum acceptable rate of return is 12%. Using the net present value method, find out whether the machine should be purchased.
BuyCo holds 25 percent of the outstanding shares of Marqueen and appropriately applies the equity method of accounting. Excess cost amortization (related to a patent) associated with this investment amounts to $10,000 per year.
what would your export response to coca-cola be if the price of pepsi doubled? if the prices of coca-cola and pepsi
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