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Leighton Company purchased equipment for $510,000 which was estimated to have a useful life of 10 years with a salvage value of $10,000 at the end of that time. Depreciation has been entered for 7 years on a straight-line basis. In 2014, it is determined that the total estimated life should be 15 years with a salvage value of $5,000 at the end of that time.
Prepare the entry to record depreciation for 2014.
tingey industries sells merchandise on a batch basis to dealers. the selling price of the merchandise averages 25
On January 1, 2013, Micro Machines Corporation had 700,000 shares of $3 par value common stock issued and outstanding. During the year, the following transactions occurred: Prepare journal entries if necessary to record the above transactions.
Provide specific examples of accounting information that might be useful in assessing Michael Porter's cost leadership competitive strategy.
Corbin has a $15,000 basis in his 50% ownership in an S corporation and lent the corporation $5,000 last year. The corporation has $30,000 of other debt. This year the corporation reported a $100,000 loss. How much of this loss may Corbin deduct?
Are there disclosure requirements in the United States that govern the reporting practices of foreign currency transactions? Provide example
Prepare a consolidated income statement for Chee Co. for the year ended December 31, 20X8. Be sure to show your supporting calculations.
Identify and describe the deficiencies in the balance sheet prepared by the company's accountant. Include in your answer items that need additional disclosure, either on the face of the statement or in a note. Your answer to this question may be p..
Prokina Manufacturing Company reported the following data regarding a product it manufactures and sells. Use the per-unit contribution margin approach to determine the break-even point in units and dollars. Use the per-unit contribution margin approa..
Review the financial statements for the companies and answer the following questions for the last reporting year - What type of information do you find in footnotes to the financial statements?
David s Entertainment is a merchandising business. Their account balances as of November 30, 2012 (unless otherwise indicated), are as follows.
post each transaction to the appropriate T-account and calculate the balance of each account as of March 31st.
log transformation when points do not seem to follow a straight line.speculate what you think we might have to do for
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