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On April 22, 2016, Sunland Enterprises purchased equipment for $137,000. The company expects to use the equipment for 11,500 working hours during its 4-year life and that it will have a residual value of $13,000. Sunland has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,600 hours in 2016; 2,700 hours in 2017; 3,600 hours in 2018; 2,500 hours in 2019; and 1,200 hours in 2020.
Problem a. a depreciation schedule for the life of the asset under each of the following methods:
Problem b. Which methods results in the lowest profit over the life of the asset?
Problem c. Which methods results in the least cash used for depreciation over the life of the assets?
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$20 million and decrease in accounts payable of $40 million. What is the net cash provided by the company's operating activities for the year?
Compute the (1) payback period and (2) accounting rate of return for this equipment. (Record answers as percents, rounded to one decimal.)
If you'd spent your time working at your brother's ice cream shop instead of at your brat stand, he'd have paid you $3200.
Make journal entries for the equipment at December 31, 20X5. The fair value of the equipment at December 31, 20X5, is estimated to be $4,600,000.
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Assume you estimate costs pertaining to a proposed job at $17,076. Your normal pricing policy is to apply a markup of 18% from total costs
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Callaway Cattle Company, Where the appropriate discount rate for this type of project is 9 percent, what is the project's discounted payback period?
A company's income before interest expense and income taxes in 2008 and 2009 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company's times interest earned ratio, and comment on its level of ..
Calculate the effect on each year's profit from the above. The provision for doubtful debts stood at £425 as at 31 December 2006
Describes how preference shares would be reported on the consolidated statement of financial position at the date of acquisition?
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