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A machine costing $210,400 with a four-year life and an estimated $20,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 476,000 units of product during its life. It actually produces the following units: year 1, 122,000; year 2, 122,400; year 3, 120,000; and year 4, 121,600. The total number of units produced by the end of year 4 exceeds the original estimate-this difference was not predicted. (The machine must not be depreciated below its estimated salvage value.) Required:
Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places.)
Assuming Gould's sells this item for $23 per unit, prepare summary journal entries for the period's purchases, sales, and sales returns.
Both figures occur evenly throughout the year. On a December 31, 2004 consolidated income statement, what should be reported as the noncontrolling interest in the subsidiary's net income and as preacquisition income?
Determine (a) the price variance, quantity variance, and total direct materials cost variance; (b) the rate variance, time variance, and total direct labor cost variance; and (c) variable factory overhead controllable variance, the fixed factory o..
Required: prepare the consignment account in the books of consigner.
On March 17, Grady Company agrees to accept a 60-day, 9%, $10,200 note from Alert Company to extend the due date on an overdue account. What is the journal entry needed to record the payment of the note by Alert Company on the maturity date?
Audra elects section 179 for asset C. Audra's taxable income from her business would not create a limitation for purposes of the section 179 deduction. Audra elects not to take additional first-year depreciation. Determine her total cost recovery ..
Prepare store ledger card under FIFO method by using perpetual inventory system.
How should Home Computer classify (for impairment testing purposes) the assets to be scrapped in the video monitor operations and the assets to be sold in the printer manufacturing operations at March 31, 2002?
What do potential voting rights refer to and how do they affect the application of the equity method for investments under U.S. GAAP?
On Dec.1 declared a $0.50 Per share cash dividend to shockholders of record on Dec.14, payable January 10, 2010. Why is cash and Paid in capital from Treasury stock, both debit?
Select and explain ONLY the ratios that tell something important about Facebook either unusually strong or critically weak this should include the industry comparison or other basis for your evaluation and explain why you believe these ratios are ..
Construct the stockholders' equity section incorporating all the above information.
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