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Rayya Co. purchases and installs a machine on January 1, 2013, at a total cost of $105,000. Straight line depreciation is taken each year for four years assuming a seven year life and no salvage value. The machine is disposed of on July 1, 2017, during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1, 2017, and to record the disposal under the following separate assumptions:
(1) The machine is sold for $ 45,500 cash
(2) Rayya receives an insurance settlement of $ 25,000 resulting from the total destruction of the machine in a fire.
an employee earns 50 per hour and 2 times that rate for all hours in excess of 40 hours per week. assume that the
There are three reasons that Activity Based costing is not an acceptable practice for external accounting reports. First, non manufacturing costs are only allocated to the products that cause them. Shipping, commissions and warranty costs for a ..
on september 30 2013 sternberg company sold office equiptment for 12000. the equiptment was purchased on march 31 2010
identify the savings investment instruments you use or have used in the past if you havent used any identify those that
Susan sweets is a 40 percent shareholder in acclaim inc. a theatrical supplies company. She transfers a fully depreciated car with a value of $2,000 to the corporation, dut does not receive any consideration for it.
Prepare a statement of financial condition for Mr. Holz as of December 31, 2008. Assume any gain on subsequent sale of the residence will not be tax-exempt.
the april cash record of donald insurance followcash
Prepare common-sized financial statements for Leslie Fay for the period 1987-1991. For that same period, compute for Leslie Fay the ratios shown in Exhibit 2. Given these data, which financial statement items do you believe should have been of ..
marple associates is a consulting firm that specializes in information systems for construction and landscaping
Use the purchases journal and the cash disbursements journal to record these transactions. Prepare a schedule of accounts payable. There were no accounts payable on May 1.
this exercise tests your understanding of the information needed to trace a sale through a multistep erp sales cycle
murphy companys total liabilities on december 31 2012 amounted to 1500000. the debt-to-equity ratio on this date was
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