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Question - On Jan 1, 2010, you purchased a vehicle costing $28,000 with additional costs of taxes, $1,750 and shipping costs, $250. Based on historical records, you estimate the useful life to be 8 years and the estimated salvage value to be $1.500. You depreciate this vehicle using the double-declining balance depreciation method. On January 1, 2014, you revise the asset's total estimated useful life from 8 years to 9 years and change the estimated salvage value to $1,000.
Required: Compute the depreciation for each year and a) prepare the appropriate adjusting journal entry to record the depreciation for years 1, 5, and 9 and b) show the balance sheet presentation of the Vehicle for 'ears 5 and 9.
At the end of its first year of operation, Dade Corporation has $1,000,000 of common stock and net income of $216,000. Prepare
A company's flexible budget for 48,000 units of production showed variable overhead costs of $72,000 and fixed overhead costs of $64,000. The company incurred overhead costs of $122,800 while operating at a volume of 40,000 units. The total contro..
Prepare journal entries. Be sure all dates agree with the problem and are not today's date. Assume that Money Market and Cash are the same
A contractor has a contract to construct the sanitary sewer, water line, storm drain, and street lighting for a new subdivision.
below is selected data for gertup corporation as of 123105 total assets 5500 current assets 2750 long-term debt 450
A merchandise purchases budget in units and in dollars. Show the budget by month and in total
a business operated at 100 of capacity during its first month with the following results sales 90 units 90000
According to the company's accounting system, what is the net operating income earned by product V41B
Jason Company determined that the budgeted cost of producing a product is $1.20 per unit. On June 1, there were 11,000 units on hand.
A drugstore sells 30 bottles of antibiotics per week. Each time it orders antibiotics, there is a fixed ordering cost of $10 and a cost of $10 per bottle.
P sold merchandise to S during the year in the amount of $30,000. $10,000 worth of inventory is still on hand at the end of the year with an unrealized profit of $4,000. The separate company statements for P and S appear in the first two columns o..
southeastern oklahoma state universitys business program has the facilities and faculty to handle an enrollment of
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