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The majority of long-term assets consist of property, plant, and equipment and intangibles. These assets are capitalized on the balance sheet and depreciated on the income statement over their estimated useful lives.
Refer to the annual report of the company you've selected to analyze. Research and answer the following:
1.What are the balances of net property, plant, and equipment on December 31, 2009 and 2010?
2.Referring to the notes to the financial statements, what depreciation methods did the company use? What were the estimated useful lives of the assets? What kinds of intangible assets does the company own?
3.What was the percent of net fixed assets compared to total assets for the company for 2009 and 2010?
Your company uses LIFO and is having an unexpectedly good year. It is near year end, and you need to keep net income from increasing too much in order to save on income tax.
the lp partnership was formed on january 1 19x7 by investments from bill levy and marv parcells. levy contributed 30000
What is Omega's charitable contributions deduction for the current year and its charitable contributions carryover to next year, if any?
bloom corporation had the following 2014 income statementsales
Each year the supervisor prepares an operating budget for the motor pool. The budget informs university management of the funds needed to operate the pool. Depreciation on the automobiles is recorded in the budget in order to determine the costs p..
The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ?
the accounting profession follows a set of guidelines for measurement and disclosure of financial information called
Post beginning balances in ledger accounts (t-accounts) from the December 31, 2009 post-closing trial balance. Prepare journal entries to record each transaction for DeeDee's Designs. (A general journal is provided. Multiple pages will be needed.)
During 2010, Shirley Nutt, the sole shareholder of a calendar year S corporation, received a distribution of $16,000. On December 31, 2009, her stock basis was $4,000.
steven clark and two of his colleagues are considering opening a law office in a large metropolitan area that would
The initial investment would be for equipment that would cost $196,000 and have a 7 year life with no salvage value. The annual depreciation on the equipment would be $28,000. The simple rate of return on the investment is closest to:
Bell company is concsidering the disposal of equipment that is no longer needed for operations. the equipment originally cost $500,000 and accumulated depreciation to date totals $360,000.
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