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The MACRS depreciation allowances on 3-year property are 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. What is the amount of the depreciation in year 2 for 3-year property with an initial cost of $64,000?
Mr. Sullivan is borrowing $2,000,000 to expand his business. The loan will be for ten years at 12% annual interest and will be repaid in equal quarterly installments. How much will each quarterly payment be?
Prepare the journal entries to record the income tax expense, deferred income taxes, and the income taxes payable for 2012, 2013, and 2014. No deferred income taxes existed at the beginning of 2012.
this assignment is to be done alone. it is due in class by the posted due date with no exceptions. other than the
B. Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the TC Partnership. At the same time Chen will invest a building which is worth $90,000 to the partnership. What will be the journal entry to record the formation of t..
melchor inc. offers a two-year warranty against failure of its products. the estimated liability is 2 in the year of
determine a petty cash fund? list two ways a business would maintain controls over petty cash? list two procedures you
Old Alabama Company purchased investments for $45,000 and plant assets for $127,000 during the current year, during which it also sold plant assets for $66,000, at a gain of $6,000. The company also purchased treasury stock for $78,000 and sold a ..
The capital balance for Messalina is $ 210,000 and for Romulus is $ 140,000. These two partners share profits and losses 60 percent (Messalina) and 40 percent (Romulus).
fillip corporation makes 4000 units of part u13 each year. this part is used in one of the companys products. the
The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars):
on march 1 2012 chance company entered into a contract to build an apartment building. it is estimated that the
Upper Darby Park Department is considering a new capital investment. The following information is available on the investment. The cost of the machine will be $150,000.
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