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Porter, Inc., acquired a machine that cost $361,000 on October 1, 2010. The machine is expected to have a four-year useful life and an estimated salvage value of $31,000 at the end of its life. Porter, Inc., uses the calendar year for financial reporting. Depreciation expense for one-fourth of a year was recorded in 2010. Using the double-declining-balance depreciation method, calculate the depreciation expense for the year ended December 31, 2012, and the net book value of the machine at that date. What is the 1. Depreciation Expense? and 2. Net book Value?
didde co. had 300000 shares of common stock issued and outstanding at december 31 2010. no common stock was issued
on the basis of the following data determine the value of the inventory at the lower of cost or market. assemble the
In the case study of Melissa Robinson, Melissa was able to steal over $60,000 from her employer. Why was she able to commit her fraud without detection?
on september 30 2010 squid roe inc. issued 100000 of 25-year 8 bonds at 90. the bonds pay interest semiannually on
A trial balance prepared by an inexperienced accountant showed total debits of $540,000 and total credits of $450,000. This discrepancy is most likely due to which type of error?
The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years...
changing from lifo to fifo over two accounting periods could be viewed as a violation of what account concept or
If a fixed asset is sold and the book value is less than cash received, the company must __________.
Gridiron University is a private university. A successful alumnus has recently donated 1,000,000 to Girdion for the purpose of funding a "center for the study of sports ethics."
Shifting the focus slightly, think about this. How would you allocate the cost of a dinner among a group of your friends when you go out for an evening?
rand company sells fine collectible statues and has implemented activity-based costing. costs in the shipping
robbie is 18 and a dependent on his parents return. his income consists of interest of 1300 and 2500 from being a
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