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Machinery purchased for $60,000 by Tom Brady Co. in 2003 was originally estimated to have a life of 8 years with a salvage value of $4,000 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2008, it is determined that the total estimated life should be 10 years with a salvage value of $4,500 at the end of that time. Assume straight-line depreciation.
On January 1, 2009, Glenville Co. acquired 80,000 of the 100,000 shares outstanding in Acron Corp. for $500,000. The fair value of Acron's net assets was $600,000 and Glenville will account for its interest using the acquisition method.
jensen fences uses job order costing. manufacturing overhead is charged to individual jobs through the use of a
in 2012 the sales revenue was 100 cost of goods sold 60 depreciation 15 and net income 12. 1112 balances on current
following is the governemental activities pre-closing trial balance for the town of freaz. freaz is a relatively small
The Mars Corporation issued 2,000 shares of its $10 par value common stock for $70,000. The Mars Corporation also incurred $1,500 of costs associated with issuing the stock.
On April 1, 2005, Hofiani Company purchased a one year insurance policy for $3,600. What was the journal entry which Hofiani Company made on April 1, 2005?
blue corporation donates the following property to johnson elementary schoolxyz corporation stock purchased two years
Computer inc purchase supplies for $1000 doing 2102, at the end of the year computer had $800 supplies left. The adjusting entry should be ?
Determine the cost ratio (retail method) for T games and comics store if the cost of goods available for sale is $36,000 and the retail value of goods available for sale is $90,000
a company is preparing completing their cash budget. the following data has been prepared for cash receipts and
A building acquired at the beginning of the year at a cost of $316.000 has an estimated residual value of $48,000 and an estimated useful life of 40years. Determine (a) the depreciable cost, (b) the straight-line rate, and (c) the annual straight-..
give four examples of overhead expenses which may be common infactory overheads as well as in administrative overheads
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