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Problem - On January 2, 2011, Jansing Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with a residual value of $5,000.
a. Prepare a complete depreciation table under the three depreciation methods listed below. Use formats similar to the illustrations of the straight-line depreciation schedule, 200% declining-balance depreciation schedule, and 150% declining-balance depreciation schedule. In each case, assume that a full year of depreciation was taken in 2011.
1. Straight-line.
2. 200 percent declining-balance.
3. 150 percent declining-balance with a switch to straight-line when it will maximize depreciation expense.
b. Comment on significant differences or similarities that you observe among the patterns of depreciation expense recognized under each of these methods.
The cost of capital is 14%, and the firm's tax rate is 40%. Estimate the present value of the tax benefits from depreciation. $18,000 $45,000 $27,000 $89,035
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an accounting system that provides information that management can use to evaluate the profitability andor cost
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The first salary payment this month was for $1,900, which included $700 of salaries payable on March 31.The payment was recorded as a debit to Salaries Expense $1,900 and a credit to Cash $1,900.
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