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a. Warren company plans to depreciate a new buildingusing declinign balance depreciation with 200 percent accelerationrate. the building cost $800,000. the estimated residual value ofthe building is $50,000 and it has an expected useful life of 25years. assuming the first year depreciation expense was recordedproperly what would be the amount of depreciation expense for thesecond year?
b. Pyle company purchased an asset that cost $50,000( noresidual value esimated useful life 8 years, straight linedepreciation used). an error was made because the total cost amontwas debited to an expense account for 2009 and no depreciation onit was recorded. pretax income for 2009 was $42,000. the correctpretax should be?
c. boone industries pruchased a truck for $35000 onjan.1,2009. the truck had an estimated useful life of 80000 milesand estimated residual value of $8000. in the 3rd year ofownership(2010), the car was driven 25000 miles. using units of production method the amt of depreciation expense for 2010is?
hillside issues 1500000 of 6 15-year bonds dated january 1 2013 that pay interest semiannually on june 30 and december
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Write a 2- to 3-page memo to the file, evaluating the merits of the position taken by the IRS. Use the IRAC Tax memo format: Issue, Ruling, Analysis, and Conclusion.
Prepare a differential analysis report, dated December 15, 2009, for the make-or-buy decision, considering the 2010 differential revenues and costs.
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what are the criteria for classifying a lease as operating or capital? why is there a difference between the two? what
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You have a client considering plans for transferring her wealth over the next five to ten years. Given the uncertainty in this area of the tax code, what are some key factors to consider in deciding whether to accelerate transfers into 2012 or del..
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