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Question - Machinery purchased for $52,000 by Carver Co. in 2006 was originally estimated to have a life of 8 years with a salvage value of $4,000 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2011, it is determined that the total estimated life should be 10 years with a salvage value of $4,500 at the end of that time. Assume straight-line depreciation.
(a) Is it necessary to do an entry to correct the prior years' depreciation?
(b) Prepare the entry to record depreciation for 2011?
Explain why you agree or disagree with this quote. How would you respond to the professor from Oregon Coastal University?
Calculate the number of package tours that must be sold to break even. Calculate the revenue needed to earn a target operating income of $102,000
P Corporation paid $420,000 for 70% of S Corporation's $10 par common stock on December 31, Complete consolidated balance sheet work-paper for P Corporation
selecting a for-profit organization of interest you will research an unusual or conflicting accounting principle that
Prepare the journal entries to record the estimated liability for warranties and the costs incurred in honoring 1,000 warranty claims. (Assume actual costs of $20,000.)
in quickbooks if you set up a new company file using the express start method which journal entries would you normally
Based on the article by Thakur et al. (2006), define a customer relationship management (CRM) system. Identify and explain the seven critical questions a firm needs to answer before implementing a CRM system.
A. Develop a static budget for phtocopying costs based on 800 students. B. Calculate the January static budget variance for fixed and variable photocopyin costs.
Economist George Ayittey, in an interview on PBS about economic development in Africa, stated that of the 54 African countries, only 8 had a free press. For Africa's economic development, Ayittey argued strongly for the establishment of a free pre..
Polaris offers extended service contracts that provide repair and maintenance coverage over its products. As you complete the following requirements, assume that the Polaris services department uses many of Polaris's existing resources such as its..
on jan.1 2009 l company leases a computer. the lease contract calls for 2 lease payments 1000 on december 31 2009 and
What are the major differences between job costing and process costing? Which types of companies would use job costing rather than process costing? Why
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