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The amount of depreciation expense for a fixed asset costing $95,000, with an estimated residual value of $5,000 and a useful life of 5 years or 20,000 operating hours, is $21,375 by the units-of-production method during a period when the asset was used for 4,500 hours.This is a true or false question but I would like to know how the answer is found as well.
A city received supplies that had been previously encumbered. The supplies were encumbered for $5,000 and had an actual cost of $4,900. To recognize this event the county should make which of the following entries?
1. describe a process costing system including the types of companies that commonly use this system. how can process
Compound interest is computed quarterly on $700 for seven years at 12 percent annual interest. The future value table is used by multiplying the $700 by which factor?
on january 1 2012 phil sonics corporation issued 2000000 of 7.5 bonds dated january 1. interest is payable
cammie received 225 nqos each option provides a right to purchase 27 shares of mnl stock for 26 per share at the time
What is the differences and similarities between the roles of accountants and auditors. What additional expertise must an auditor possess beyond that of an accountant?
If a fixed asset, such as a computer, were purchased on January 1st for $1,950 with an estimated life of 3 years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is:
at the beginning of the year mr. l put 50000 cash into an investment. at the end of the year he received a check for
wilder manufacturing manufactures two models of its banjo the basic and the luxury. the basic model requires 10000
How would you change the accounting system for the business? What additional accounts would be needed? How would the financial statements change?
On September 1, 2010, the Baker Company received $44,940 from 4-Most Finance Company. To pay off this loan, the Baker Company will have to pay 4-Most $10,000 each year for 10 years. The first payment is due September 1, 2011. Which interest rate comp..
at the beginning of the year orbit airways purchased a used boeing aircraft at a cost of 45 million. orbit expects the
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