Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The van was expected to have a useful life of 150,000 miles and a salvage value of $3,000. Actual mileage was as follows: Required
a. Compute the depreciation for each of the three years, assuming the use of units-of-production depreciation.
b. Assume that McNabb earns $21,000 of cash revenue during 2012. Record the purchase of the van and the recognition of the revenue and the depreciation expense for the fi rst year in a fi nancial statements model like the preceding one.
c. Assume that McNabb sold the van at the end of the third year for $4,000. Calculate the amount of gain or lose from the sale.
Markus Industries is authorized by its corporate charter to issue 10,000 shares of preferred stock with a 7% dividend rate and a par value of $10 per share, and 25,000 shares of common stock with a par value of $2 per share.
If the auditor obtains sufficient competent evidence on the client's accounts receivable balance by alternative procedures because it is impractical to confirm accounts receivable, the auditor's opinion should be unqualified and could be expected ..
What is the difference between using the percentage of sales and percentage of receivables method for calculating doubtful accounts? Is it appropriate to use a hybrid of the percentage of sales and the percentage of receivables methods of calculat..
Identify which segments are significant enough to warrant disclosure in accordance with FASB No. 131, "Reporting Disaggregated Information about a Business Enterprise," by applying the following quantitative tests:
What are the effect of the sale and the payoff of the loan on the accounting equation, i.e. what are the increases and/or decreases in assets, liabilities, and owners' equity?
Why might overhead be under-applied and how can you prevent it? Explain predetermined overhead rate and show its computation. What is the best allocate base to use and why? What factors do you consider when deciding on an allocation base?
An individual actually earned a 4% nominal return last year. Prices went up by 3% over the year. Given that the investment income was subject to a federal tax rate of 28% and a state, and local tax rate of 6%
Write down a memo to Stacey describing the tax consequences of incorporation. As part of your memo analyze the possibility of having the corporation issue common and preferred stock and debt for shareholders’ property and money.
Rollincoast Incorporated issued BBB bonds two years ago that provided a yield to maturity of 11.5%. Long-term risk-free government bonds were yielding 8.7% at that time.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Explain the rules for marital status and community property income. Her address is 500 Elizabeth Street, Brownsville, Texas 78520.
During 2010, Durham Manufacturing expected to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd