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On January 1, 2021 Bill invested $75,000 cash and equipment valued at $125,000 into the business. a) The equipment that was invested by Bill , $125,000, uses the double-declining balance method to depreciate the equipment and the equipment has an expected useful life of 5 years with a total residual value of $4,000. Prepare a schedule to record the depreciation expense, accumulated depreciation and net book value for five years. Then prepare the journal entries for December 31,201.
The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. Compute the net pay for the month
a new machine with a purchase price of 84520.00 with a transportation cost of 9797.00 installation costs of 5031.00 and
Explain what is meant by the concept of 'time value of money' and how it affects on business conducted by companies
The actual amount of expense is $42,000 and the amount in the company's planning budget is $44,800. What the activity variance for this expense
Keep-it-Hot Inc. manufactures popular thermoses. On June 30, the company had 1,000 thermoses in inventory. Prepare a production budget for the third quarter
DRAM module would be $26. Assume FCC uses the physical measure method. Should FCC sell the standard memory modules or the DRAM modules?
What effects does a bonus issue of shares made in the middle of a financial year have on the EPS calculations of a company
The financial records of Trek Limited, If the company tax rate is 30%, the deferred tax item that will be recorded by Polly Limited at 30 June 2020 is
What the entry to record the sale of 10,000 share rights during the year includes a credit to investment in equity instruments amounting to?
how is the factory overhead account used in cost accounting? explain the flow of entries both in and out of the account
The interest rate is 6% compounded Quarterly for one year. What is the effective annual interest rate (EAR)
Owl Co. retired its $2,500,000 par value, What is the gain or (loss) included in Owl's current year income statement for the early retirement of these bonds?
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