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Problem 1: ABC corporation brought a vertical boring machine ten years ago for $90,000 with an expected life of 20 years. The new management anticipated now that the machine will serve well for another 6 years only and purchase a new machine at $120,000 with an expected life of 16 years. The old machine is depreciated as anticipated and can be sold now at $60,000. Operating cost of the old machine is $1,000 and the new machine is $500 per year. Salvage value is 10% of the initial value for both engines regardless of length of time they are used. If money is worth 10% to the company, should the old machine be replaced or not and how much is the difference of the annual cost for both alternative.
Determine the depreciation for each of the first two years by the straight-line method. Round your answer to the nearest cent if rounding is required
Compare the firm's capital structure with at least one other firm operating within a similar industry. Critically analyse other key financial ratios for ARB
Net sales consist of: sales $911,000, less freight-out on merchandise sold $33,000, and sales returns and allowances
Lake House Co. sold $80,000 of accounts receivable to First Savings and incurred a 3% factoring fee. What is the journal entry for Lake House Co. to record sale
July 1 Issued 30,000 shares for cash at $8 per share. Prepare the journal entries for these transactions
Indicate, in the sequence in which they are made, the three required steps in the accounting cycle that involve journalizing.
You are Chief Operating Officer(COO) of an international bicycle manufacturer.The relationship between the organization and externals.
jackson uses his automobile 90 for business and during 2012 drove a total of 14000 miles. information regarding his car
select one of the following topics to researchcoffee or caffeineeggslow-fat dietslow-carb dietsother nutrition topic
Prepare the General Fund journal entries necessary on October 1, October 20, and November 1, 2013. Classify the expenditures as Road maintenance.
Zeller and Merkel have decided to issues 2,600,000 shares of common stock ($2 par value) to current shareholders and a selected group of new investors.
At year-end, Raymond had merchandise costing $15,000 on consignment with the Joclyn Corporation. The merchandise is not included in the preliminary inventory balance.
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