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Blue Highway Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2007,at a cost of $120,000. Over its 4-year useful life, the bus is expected to be driven 160,000 miles. Salvage value is expected tobe $8,000.
Compute the depreciation cost per unit.
Prepare a depreciation schedule assuming actual mileage was:2007, 40,000; 2008, 52,000; 2009, 41,000; and 2010, 27,000.
What is the budgeted change in inventory levels over the month of December?
Which financial statement should be studied most closely to determine if a company has the ability to pay a significant debt?
How would the science museum's net income be impacted if the order were accepted?
Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January 1, 2005. He financed the project using his personal funds. What is the amount of the low-income housing credit that Chris may claim in 200..
Jasmine Corporation has ordinary income from operations of $60,000, net long-term capital gain of $20,000, and net short-term capital loss of $25,000. What is the taxable income for 2008?
Companies characterized by the production of basically homogeneous products will most likely use which of the following methods for the purpose of averaging costs and providing management with unit-cost data?
Thomas Company has total fixed costs of $360,000 and variable costs of $14 per unit. If the unit sales price is reduced from $24 to $20 and advertising is increased by $10,000, sales will increase from 40,000 to 65,000 unit. What are the contribut..
Prepare example journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.
The Eastern Division sells goods internally to the western division of the same company. The quoted external price in industry publications from a supplier near Eastern is $200 per ton plus transportation.
If the current assets in 2010 were 112,004 and in 2009 the current assets were 113,030 the change is -1,026. That would mean the percent of change is -.009%. Is this correct? Can a percent of change be negative? If so, is this the proper way to wr..
How would your answer change if the "U.S. net equity" of the branch was $1,650,000 at the end of 2012? How much tax would be owed?
Analyze the impact of erroneous classifications in the operating activities section of the cash flow statement on free cash flow and how this distortion can impact the decisions made by financial statement users.
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