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Rita pita company bought a new dough machine at thebeginning of the yar at ta cost of $7600. the estimated useful lifewas four years and the residual value was $800. assume that theestimated productive life of the machines was 10000 hours. actualannual usage was 3500 hours in year 1. 3200 hours in year 2. 2200hours in year 3. 1100 in years 4.
complete a separeate depreciation schedule for each of the alternative methods. u can round your answers to nearsdollar.
a. stright lineb. units of productionc. double delining balance
method:
year computation depreciation expense accumulation expense net book value
2. assuming that the machine was used directly in the production of one of the products that the company manufactures and sells, what factors might managment consider in selecting apreferable depreciation method in conformity with the matching principle?
With this system it is estimated that 120 cars per hour can be serviced. All workers earn the minimum wage. Use productivity arguments to recommend whether or not to change the current system.
Prepare a journal entry to account for the payment to the retiring partner including bonus to or from the remaining partners. Include a narration.
Poobah Manufacturers Inc. has estimated total factory overhead costs of $95,000 and 10,000 direct labor hours for the current fiscal year. If job number 117 incurred 1,600 direct labor hours, the work in process account will be debited and factory..
A project will require an initial investment of $750,000 and will return $200,000 each year for five years. If taxes are ignored and the required rate of return is 9%, what is the project's net present value? Based on this analysis, should the com..
a. How much dividend income does Speedways have? b. How much and what kind of taxable income does Speedways have because of the distribution? c. What is Speedways's basis in its stock immediately after the distribution?
Construct a monthly cash budget for the clinic for the period January through June 2006. What is the maximum monthly loss (cash shortfall) during the six-month planning period?
Over the next few years companies will be shifting away form GAAP to IFRS (International Financial Reporting Standards). GAAP was a rules based approach to accounting where IFRS is a more principals based approach to accounting.
Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a letter explaining how you plan to begin the audit process.
Identify one of the tax credits. Then, argue whether or not it should be allowed as a credit. Also, answer each of the following questions regarding your selected tax credit.
Discuss how these technologies have changed the way accounting is performed at your organization or at an organization of your choosing.
(a) Prepare a 2010 retained earnings statement for McEntire Corporation. (Enter all amounts as positive amounts and subtract where necessary.)
Taxable income of a corporation: a. differs from accounting income due to differences in intraperiod allocation between the two methods of income determination b. differs from accounting income due to differences in interperiod allocation and perma..
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