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Questions -
Q1: A coal company invests $11900000 in a mine estimated to have 19600000 tonnes of coal and no residual value. It is expected that the mine will be in operation for 5 years. In the first year, 1070000 tonnes of coal are extracted and sold. What is the depreciation included in cost of goods sold for the first year?
Q2: In 2021, Sheridan Company introduces a new product that includes a two-year warranty on parts. During 2021, 5,000 units are sold for $465 each. The cost of each unit was $210. The company estimates that 9% of the units will be defective and that the average warranty cost will be $90 per unit. The company has a December 31 fiscal year-end and prepares adjusting entries on an annual basis. Prepare an adjusting entry on December 31, 2021, to accrue the estimated warranty cost.
If a partner withdraws from a partnership and receives more cash than the amount recorded in the appropriate capital account, what accounting does the business make of the excess payment?
Compare the after-tax returns for a corporation that invests in preferred stock with a 12% dividend versus a common stock with no dividend
Prepare journal entries and ledger accounts to record. Maple Ltd was registered on 1 March 2017. Directors decided to issue 500, 000
Quentin's current ratio on December 31, 2004 is:- What was Quentin's retained earnings balance on December 31, 2003?
Prepare the plant assets section of Queens Company's statement of financial position at December 31, 2017. Record adjusting entries for depreciation for 2017.
What is the impact of paying interest semi-annually rather than annually? Jimmy has a bond with a $1,000 face value and a coupon rate of 9.5% paid semiannually.
The following information pertains to installment sales of a Company: Find the unrealized profit for the installment sales made during year 2
Pay interest annually on December 31. The bonds are measured at amortized cost. What amount should be reported as interest income for 2020?
Calculate the best-case and worst-case NPV figures. We are evaluating a project that costs $866,000, has an eight-year life, and has no salvage value.
Flanagan Company's call options is $15, its exercise value is $22, and its time value is $5. What are the option's market value and the price of the stock?
Calculate the inventory turnover, days sales outstanding (DSO), fixed assets turnover, and total assets turnover.Why are ratios useful?
The beta of your portfolio is equal to the market beta. What is the dollar amount of your investment in Stock D?
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