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on April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2006. The equipment had a salvage value of $5,000, and a useful life 10 years. The double-declining- balance depreciation method was used. On december 31, 2009, accumulated depreciation was $20,664. Prepare a journal entry to record depreciation for 2010 up to the date of disposal of the equipment, and prepare a journal entry to record the disposal of the equipment.
In addition Explain what type of manufacturing would use the "Process Cost Accounting" to account for cost of manufacturing.
Prepare a budget showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter.
A new board member for the Fire Protection District (a special purpose government) was reviewing the audit report for the district and noted that, although the district received an unqualified opinion, the audit report was longer the one received ..
What is the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?
Prepare a schedule of cost of goods manufactured for Fido Treats for the year ended December 31, 2012. Prepare an income statement for Fido Treats for the year ended December 31, 2012.
Assume the CFO of your organization approaches you to ask your advice about implementing the Balanced Scorecard at your organization.
Leon Tyler's VISA balance is $793.15. He may pay it off in 12 equal end-of-month payments of $75 each. What interest rate is Leon paying?
When calculating debt to equity ratio: A) Convertible bonds should be treated as debt B) Convertible bonds should be excluded from debt but not included in equity
Assume that Smith & Smith CPAs audited Apollo shoes. Inc last year Now CEO Larry Lancaster wishes to engage Anderson, Olds, and Watershed, CPAs (HOW) to audit its annual financial statements.
The direct method might be easier to understand but it is also more expensive and more time consuming for the company why is that? and Whats the best method to use for businesses?
The consolidated cash flow from operations of Jones corporation and its subsidiary short manufacturing for 2012 decreased quite substantially from 2011 despite the fact that consolidated net income increase slightly in 2012.
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