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!
Pinnacle Corporation has been using the straight-line depreciation method to depreciate some office equipment that was acquired at the beginning of 2013. At the beginning of 2016, Pinnacle decided to change to the sum-of-the-years'-digits method. The equipment cost $120,000 and is expected to have no salvage value. The estimated useful life of the equipment is five years. The tax rate is 30%.
Required:
a. Prepare the journal entry, if any, to record the accounting change at the beginning of 2016.
b. Blue Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company's assets in that country. If the likelihood of expropriation is remote, a loss contingency should be:
Disclosed but not accrued as a liability.
Accrued as liability but not disclosed.
Disclosed and accrued as a liability.
Neither accrued as a liability nor disclosed.
When a new partner is admitted to a partnership, there should be a(n)
Setting materials, labor, and overhead standards is challenging. If standards are set too low, companies might purchase inferior products and employees might not work to their full potential. Identify four types of specialists that you would assemble..
The expansion will cost two million dollars, and is expected to increase operating earnings to $2,100,000. What factors should Turner’s manager and her supervisor, the VP of operations, consider in deciding whether to go forward with the expansio..
Evaluate the overhead variances and Consider the following data for the Rivera Company
In 2001, Ellen purchased a house for $60,000 to use as her personal residence. She paid $12,000 and borrowed $48,000 from the local savings and loan company. In 2005 she paid $10,000 to add a room to the house. In 2007 she paid $625 to have the house..
calculation of labor variances.1.the following direct materials and direct labor data pertain to the operations of
What happens when taxpayer experiences a net loss from a rental home? The loss is fully deductible against the taxpayer's ordinary income, no matter the circumstances.
ABC's EBIT is $12 million. The depreciation expense is $0.5 million and interest expense is $0.5 million. The corporate tax rate is 45%. The company has 12 million in operating current assets and $6 million operating current liabilities. It has $5 mi..
Data for Lozano Chip Company and its industry averages follows (answers questions and show work): I was provided with the answers to the question and need the supporting work and formulas. calculate the indicated ratios for Lorzano---answers are: cur..
After recording lower than anticipated profits last year, Manuel has decided to shut down one of its divisions that is not performing well . Which division should be closed and why?
What are the advantages of the EFTPS? How is self-employment income treated differently than income earned when you work for an employer? How do you report self-employment income?
The following are last year's revenues and total costs for X Company:contribution margin rate
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