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Question - Pryce Company owns equipment that cost $67,200 when purchased on January 1, 2017. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5 years.
Required - Prepare Pryce Company's journal entries to record the sale of the equipment in these four independent situations.
(a) Sold for $32,320 on January 1, 2020.
(b) Sold for $32,320 on May 1, 2020.
(c) Sold for $10,400 on January 1, 2020.
(d) Sold for $10,400 on October 1, 2020.
Calculate the benefit to Division A in selling to Division B the 22,500 units. Calculate lowest price Division A would be willing to accept.
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Calculate the manufacturing cycle efficiency. (Round your percentage answer to 1 decimal place. (i.e., 0.123 should be entered as 12.3))
Determine the dollar amount of the Janitorial Department costs to be allocated to the (a) Cutting and (b) Assembly departments using the direct method.
1.The following selected information is from the Princeton Company's comparative balance sheets.
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Using the data computed in above and other data provided in the problem, determine the net present value of the proposed investment.
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