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At the beginning of the year, Fun Ships cruise line purchased a cruise ship at a cost of $55 million. Fun Ships expects the ship to remain useful for 10 years (1,000,000 miles) and to have a residual value of $5 million.Fun Ships puts 80,000 miles on the ship the first year and 115,000 miles the second year.Requirements:Use the following Excel Template to compute Fun Ships' first and second year depreciation on the cruise ship using the following methods:Straight-lineUnits-of-productionDouble declining balance
in 1999 a seattle mannbsptook a popular soft-drink company seriously when one of its commercials made an offer of a
rankine company estimates its bad debts expense by aging its accounts receivable and applying percentages to various
during 2009 lexie inc. acquired lena inc. for 10000000. the fair market value of the net assets of lena inc. was
on august 3 srini construction purchased special-purpose equipment at a cost of 1000000. the useful life of the
congress would like to increase tax revenues by 10. assume that the average taxpayer in the united states earns 65000
didde co. had 300000 shares of common stock issued and outstanding at december 31 2010. no common stock was issued
the net income reported on the income statement for the current year was 275000. depreciation recorded on fixed assets
if fixed costs are 490000 the unit selling price is 35 and the unit variable costs are 20 what is the break-even sales
Decker Corporation purchased 1,000 shares of Kent common stock at $75 per share plus $3,000 brokerage fees as a short-term investment. The shares were subsequently sold at $80 per share less $3,400 brokerage fees.
Storytime Park competes with DaisyWorld by providing a variety of rides. Storytime sells tickets at $70 per person as a one-day entrance fee. Variable costs are $15 per person, and fixed costs are $371,250 per month.Requirement
shimmer inc is a calendar year end accrual method corporation. this year its sells the following long term
brown cow dairy uses the aging approach to estimate bad debt expense. the balance of each account receivable is aged on
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