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On 1st April , 2010 Johny purchased five machines for $ 60,000 each. Depreciation @10% p.a. on initial cost has been charged from the Profit and Loss account and credited to provision for Depreciation account. On 1st April,2011 one machine was sold for $ 50,000 and on 1st April , 2012 another machine was sold for $ 50,000. An improved model costing $ 1,00,000 was purchased on 1st October , 2011. Johny closes his books on 31st March every year. you are required to show; i)Machinery account ii)Machinery Disposal account iii)Provision for Depreciation account.
Does the AICPA Code of Professional Conduct discuss the collegial responsibilities of CPA firms?In your opinion,were representatives of either Ernst & Young or Kenneth Leventhal &Company unprofessional in this regard during their congressional tes..
question 1.nbsp an audit client is being sued for 500000 for discriminatory hiring practices.required indicate the
beck company expects to produce 10000 units for the year ending december 31. a flexible budget for 10000 units of
sara owns a sole proprietorship and phil is the sole shareholder of a c regular corporation. each business sustained a
Prepare the REA model of the payroll process
John has $55,000 net earnings from the sole proprietorship. John is also employed by a major corporation and is paid $25,000. John' self-employment tax in 2013 is:
younger bus lines uses the units-of-activity method in depreciating its buses. one bus was purchased on january 1 2010
Assume Mr. Cobb died after Mrs. Cobb and the land was worth $240,000 at this death. What amout was included in his gross estate?
balance sheet at the end of the current year are as
The equipment cost $540,000, had accumulated depreciation of $240,000 at the end of the year after recording annual depreciation, and had a fair value of $330,000. After the revaluation, the accumulated depreciation account will have a balance of:
xyz ltd needs 1000 motors in its manufacture of cars. it can buy the cars from fast motors for 1250 each. xyzs plant
johnson industries produces industrial computers for high-precision manufacturing. the following information is
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