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Presented below are selected transactions at thomas company for 2006. Jan1st - Retired a piece of machinery that was purchased on Jan 1st 1996. The machine cost 62,000 on that date. It had a useful life of 10 years with no salvage value. June 30th - Sold a computer that was purchased on Jan 1st 2003. The computer cost 35,000. It had a useful life of 5 years with no salvage value. The computer sold for 12,000. DEC31st - Discarded a delivery truck that was purchased on Jan1st 2002. The truck cost 33,000. It was depreciated based on a 6 year useful life with a 3,000 salvage value.
INSTRUCTIONS: Journalize all entries required on the abouve dates, including entries to update depreciation, where applicable, on assets disposed of. Thomas Company uses straight-line depreciation. (Assume depreciation is uo to date as of Dec 31 2005.
What is the reason for the apparent inconsistency between the fund types in which the revenues and expenses are reported?
Discuss the feasibility of Gerald's compensation agreement.
The variable overhead rate was $3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,700 units.
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Sondra deposits $2,000 in an IRA account on April 15, 2009. Assume the account will earn 3% annually. If she repeats this for the next nine years, how much will she have on deposit on April 14, 2019?
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Qualitative considerations in capital investing analysis include:
Identify the important structural cost drivers for the company and the related strategic issues that it should address to be competitive.
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