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Question - January 1, Mark Co. purchased an old carousel at a cost of $200,000. Mark Co. paid $10,000 to have the carousel transported, paid $16,000 to have the carousel installed on their own truck platform which will serve as the transport and set up mechanism for the carousel, and they paid $40,000 to have the entire carousel repainted. Mark Co. will use sum-of-the-years digits to depreciate the carousel and believes the carousel will have a 10-year life with a $25,000 residual value. Record the journal entry for the acquisition.
If the line is busy or if there is no answer, she uses the next number on her list as a replacement. Comment on both the randomness and the representativeness of the sample of persons who end up being interviewed.
What is reengineering? What are the potential benefits of performing a process redesign?
What is net income for the year? What was the ending balance in retained earnings? What is the total equity at the end of the year?
A physical inventory taken on December 31, 2010, resulted in an ending inventory of $700,000. Keen"s gross profit on sales has remained constant at 25% in recent years. Keen suspects some inventory may have been taken by a new employee. At Decembe..
How would margin of safety play into Cost-Volume Profit (CVP) and Breakeven analysis? While breaking even might not seem like much of a business goal.
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department
Lana operates a real estate appraisal service business in a small town serving local lenders. What kind of tax issues should Lana consider
Explain how the break-even point and operating leverage are affected by the choice of manufacturing facilities (labor intensive versus capital intensive).
For each of the following separate cases, compute cash flows from operations. The list includes all balance sheet accounts related to operating activities.
at the beginning of the year logan comapnys assets are 200000 and its equity is 150000. during the year assets increase
Mike paid a gift tax of $800. If Marta sells the ABC stock for $12,000, what basis does she use when computing gain or loss for the stock
Assume that the error is not discovered until 2014 and that a periodic inventory system is used. Ignore income taxes.
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