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Foster Glass Company purchased a fax machine on July 1,2007 for $1,800. The fax machine had an estimated useful life of three years and a salvage value of $300. Assume Foster uses the double-declining balance (DDB) depreciation method.
Foster decided to replace its fax machine with a Bizhub on July 1,2008, Eagle Outfitters offered to buy the used fax machine from Foster for $1,000 (proceeds received upon purchase).
Record on Foster's books the July 1,2008 journal entry detailing the sale of the fax machine to Eagle.
Legal Stars pays its employees each week. Its employees' gross pay is subject to these taxes.
In 2009, Magic Table Inc. decides to add a 36-month warranty on its new product sales. Warranty costs are tax deductible when claims are settled. In its financial statements for 2009, Magic Table Inc incurs:
Survival Industries, Inc. purchased a boat at a cost of $360,000-Compute the depreciation expense for 2014
Forest Products, Inc., busy and develops natural resources for profit. Since 2006, it has had the following activities:
What are the equivalent units of production with respect to direct labor at the end of the month, assuming the weighted average method is utilized?
If risk is to be analyzed in a qualitative way, place the following investment decisions in order from the lowest risk to the highest risk:
Probe Manufacturing leased an asset with a fair market value of $145,000 to Detection Devices. Detection will pay Probe $25,000 annually, in advance, for the next 10 years.
Suppose you are studying two hardware lease proposals. Option 1 costs $4,000,but requires that the entire amount be paid in advance.
How would I figure the monthly quality costs when I use overhead through the basis of direct labor costs? Then what would I do to figure out the quality costs though an ABC system?
Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is:
Quick Finance assessed a finance charge of 6% of the total accounts receivable factored and retained an amount equal to 2% of the total receivables to cover sales discounts.
What is the predetermined overhead application rate for the maintenance department? What is the additional cost to the maintenance department of providing another hour of maintenance?
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