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Prepare a journal entry for carlton company sells office equipment on sept.2007, for $21,000 cash. the office equipment originally cost $72,000 and as of Jan.1 2007 had accumulated deprication of $42,000. Depreciation for the first 9 months of 2007 is $7,500.
Suppose new instruments for a firm cost $18,000 with an additional installation fee of $2,000, both of which are depreciable. Complete the depreciation schedule shown below using the Modified Accelerated Cost Recovery System (MACRS) 3-year class.
Calculate the gross wages of each worker for Week 4. Show clearly the basic pay, overtime pay and bonus pay; Using the answer in (a), analyze the total gross wages of the workers into Direct Wages and Indirect Wages;
Fixed rate notes and bonds have interesting dynamics that respond to various economic factors affecting the market or fair value of those instruments. There are several potential results from the issuance of fixed rate instruments.
Are there any other regulatory controls or mechanisms (other than internal controls) that could prevent management fraud in Australia? If so, briefly discuss the ability of these mechanisms to prevent fraud?
On February 10, 2013, Rims Corporation purchased a parcel of land as a factory site for $250,000. An old building on the property was demolished, and construction began on a new building which was completed on September 30, 2013. Salvaged material..
Robert Huft retires in 6 years. He would have to purchase equipment costing $590,000 to equip the outlet. Other outlets in the fast food chain have an annual net cash inflow of about $140,000. Mr. Anders would close the outlet in 6 years. He estim..
Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July the following transactions were completed:
Discuss whether Loewen Group expansion from funeral homes to cemeteries affected its horizontal or vertical boundaries or both.
Maine Company reported a pretax operating loss of $150,000 for financial reporting and tax purposes in 2012. The enacted tax rate is 40% for 2012 and subsequent years.
Mary (Who is single with no dependants and who does not itemize) owns 100% of Beezer Tweezer Co, which is organized as a C-Corporation. Beezer Tweezer has $400,000 of taxable income in 2011 and Mary has $34,500 of outside taxable income before any..
At the end of its first year, the trial balance of Wooster Company shows Equipment $32,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense.
Compare the equity technique of accounting to the fair value technique for equity securities. In what cases would you employ each?
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