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Question - On Jan 3 2010, hippo corp. which using IFRS purchased a machine for 600,000. The machine was being depreciated using the straight line method over an estimated useful life of 10 years with no residual value. On Jan 3, 2017 the company paid 150,000 to overhaul the machine. As the result of this improvement company estimated that the useful life of the machine would be extended an additional 5 years. (15 years total)
Required - What was the depreciation expense? On Dec 31, 2018 Hippo Corp concluded on impairment test for an asset using for the rational entity model. It was determined at the price the valuation in use is 315,000 and the fair value net cost to sell is 300,000. Prepare the journal entry that is required. If not explain why?
When discussing the statements sent to you by the federal government that predict your future Social Security payments, we said.
Prepare the journal entry to close the amount of underapplied or overapplied overhead to Cost of Goods Sold.
In computing the noncontrolling interest's share of consolidated net income, how should the sub- sidiary's income be adjusted for intercompany transfers?
Tootsie Roll Industries, Inc., is engaged in the manufacture and sale of confectionery products. Last year, Tootsie Roll reported cost of goods sold of $352.
These are the only treasury stock transactions ever made by candle. Prepare the journal entries required on January 10 and august 4
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auditing project overviewnbsp casenbsp you will be asked to address a accounting failure from american insurance group
wilkins manufacturing uses a job order cost accounting system. on december 1 the company has a balance in work in
The primary system of measurement in the United States is the customary system. Among the units of measurement in the customary system are inches, feet.
Assume you are performing an operational audit of the cycle. What suggestions or questions specific to that cycle would you be investigating?
a bond has a par value of 1000 coupon interest rate of 4 maturity of 15 years and yield to maturity of 5. please
Unbeknownst to Usrula, Jerome is 17 years old when she used him as a buyer. What is the status of the contract of sale? Explain
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