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Blue Highway Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2007, at a cost of $120,000. Over its 4-year useful life, the bus is expected to be driven 160,000 miles. Salvage value is expected to be $8,000. (Round all answers to 2 decimal places.)
Compute the depreciation cost per unit. $ per mile
Prepare a depreciation schedule assuming actual mileage was: 2007, 40,000; 2008, 52,000; 2009, 41,000; and 2010, 27,000.
Merchandise is ordered on June 13; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on June 16; the merchandise is received by the buyer on June 18; the entry is made in the buyer's accounts on ..
Maroon Corporation is considering deferred compensation plans for its executive employees over the age of 55. All of the employees use the cash method of accounting.
As a result of these transactions, what is the amount of warranty expense for the year and what is the ending balance in Warranty Payable.
Calculate the cash collections that would be included in the cash budgets for August and September.
Future,Inc. reported the following results for the year: Future's taxable income for the year was:
Discuss the inherit risks related to sampling methods and how the risk of audit sampling can be minimized by the auditing team.
The credit manager of Gary prepared an aging schedule of accounts receivable and estimates that $4,800 will prove to be uncollectible.
Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.
Describe the reasons why corporations invest in securities. Describe how the market would be affected if they stopped this practice?
assess the short- and long-term impact the disaster had to the business and stakeholders. Provide specific examples to support your response.
a. Journalize the entries required to complete the closing of the accounts. b. Determine the amount of Retained Earnings at the end of the period.
Swanson Inc. purchased $400,000 of Malone Corp. ten-year bonds with a stated interest rate of 8 percent payable quarterly. At the time the bonds were purchased
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