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Problem 1: Two years ago, Austin Corporation purchased equipment for $400,000. At the end of last year, the equipment had a fair value of $375,000. Assuming Austin uses the revaluation model, what amount, if any, is recognized in Austin's net income this year if the equipment fair value is $410,000?
A. $0.
B. $25,000.
C. $35,000.
Problem 2: Cash Company recently sold equipment and recognized a $1.4 million loss. The original cost of the equipment was $12 million and the accumulated depreciation on the date of sale was $8.4 million. What was the selling price of the equipment?
A. $2.2 million.
B. $3.6 million.
C. $5.0 million.
Explain the basic objectives of cash management and also describe major steps in achieving internal control over cash transactions.
Use Solver Table to run a sensitivity analysis on the cost per assembling labor hour, letting it vary from $5 to $20 in increments of $1.
Question 1: Locate?financial statements for a company of your?choice and?review the cash flow statement.
finding the equivalent units for materials and conversion.bell computers ltd. located in liverpool england assembles a
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How impact by International Financial Reporting Standards. How has the passing of the Sarbanes-Oxley Act changed the accounting profession?
An employee receives an hourly rate of $15, with the time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked,48; federal income tax withheld,$120;cumulative earnings for the..
Do Vertical analysis compares a line item on the balance? sheet, in a current? period, to the same line item on the balance sheet in a prior period.
A stock has a beta of 1.89 and a standard deviation of 15.5%. The standard deviation of the market is 9.2%. What is the value of the stock's systematic risk?
Understanding financial statement relationships Total assets were $48,000 and total liabilities were $27,000 at the beginning of the year.
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