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Question - A truck was acquired on 08/01/2004 at a cost of $216000. the truck had a six year useful life and an estimated salvage value of $24000. The straight line method of depreciation was used. On 01/01/2007 the truck was overhauled at the cost of $20000, which extended the useful life of truck for an additional 2 years beyond that originally estimated(salvage value is still estimated at $24000). In computing depreciation for annual adjustment purposes, expenses is calculated for each month the asset is owned.
Prepare the appropriate entries for 01/01/2007 and 12/31/2007.
Gross margin and contribution margin. The Museum of America is preparing for its annual appreciation dinner for contributing members.
since property plant and equipment ppe and long-term investments in stock represent a companys investment why do we
Establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below:
On 1st July, 1962, B. Hoad paid £2,000 into his business as capital. The following transactions took place: July 3 Purchased Motor Van for £800.
How is Erin taxed on the distribution?
Southwest Airlines sells you an advance-purchase airline ticket in September for your flight home at Christmas - Ultimate Electronics sells you a home theatre on a "no money down and full payment in three months" promotional deal.
Determine the effects on the accounts and financial statements of recording the following selected transactions of Lone Star Leather Co.:
california mining began operations by issuing common stock for 92500. the company paid 83250 cash in advance for a
What is Small's portion of the net income? What is Big's portion of the net income? Make the entry for this allocation. Two people are starting a small IT firm. They come to you for advice on how to form a partnership
Milner Corp. uses the allowance method to account for uncollectibles. On October 31, it wrote off a $1,000 account of a customer, C. Schaub. On December 9.
Describe how sales of individual items would be entered? How the database would store the data compared to the current spreadsheet method?
Solutions for (POS) slow printing of sales tickets and unpredictable action of cash drawers.
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