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Rottino Company purchased a new machine on October 1, 2015, at a cost of $150,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expensive under the following methods.
A. Straight Line for 2015
B. Units of Activity for 2015, assuming machine usage was 1,700 hours
C. Declining-balance using the double straight line rate for 2015 and 2016
1.flips market recorded the following events involving a recent purchase of merchandisereceived goods for 50000 terms
How will your answer to Part a change if in the subsequent year the manufacturer files bankruptcy and Jerry receives $1,500 in total and final payment for his claim?
Assuming Tad attends school for 12 months, what amount may Tad and Mary claim as a child care credit (Ignore the income tax limitation)?
Marketing share of mechanical watches where at an all time low of 5%. Research so far has indicated that the watches tend to fail three tests frequently and you need to recommend machines that need to be upgraded because they may be responsible fo..
create t accounts for each of the 13 accounts in the general ledger. put in their beginning balances given above on the
The cash and securities comprising a sinking fund established to redeem bonds at maturity in 2015 should be classified on the balance sheet as:
discuss the primary advantages and disadvantages of applying the direct write-off and the allowance method of writing
stanley-morgan industries adopted a defined benefit pension plan on april 12 2011. the provisions of the plan were not
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The township authorized a bond issue of $11 million for the construction of a pedestrian walkway as part of a downtown revitalization project. An additional $1 million of general revenues is to be used for the project. The authorization was record..
On January 1, 2013, Phantom Company acquires $312,100 of Spiderman Products, Inc., 9% bonds at a price of $296,847. The interest is payable each December 31, and the bonds mature December 31, 2015. The investment will provide Phantom Company a ..
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and contribution margin per unit are as follows.
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