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Problem 1: Mendelssons Ltd has a machine that has been revaluing over a number of years. The valuation as at 1 January 2012 is $130 000. The previous valuation was $145 000 and the accumulated depreciation is $40 000. The revised salvage value is $15 000 and the estimated useful life remaining is 12 years. The benefits from the machine are expected to be derived evenly over its life. In the previous year, the machine had been devalued by $15 000 and this amount written off to the income statement. What are the entries at 1 January 2012 to record the revaluation using the net method and at 31 December 2012 to record depreciation?
Using the straight-line amortization method, prepare the borrower's journal entries on: March 1, 2015; September 1, 2015; December 31, 2015
Pierre Corporation is interested in acquiring Coller Corporation. Coller has 30 million shares outstanding and a target capital structure consisting.
If a company factors its receivables, what percentage of the value of the receivables can it expect to receive from the factor in the form of cash, and how quickly will it receive the cash?
struggling in my accounting class amp professor will not respond to my e-mails or several of my classmates . taking
Donated equipment for which the fair value has been determined should be recorded as a debit to the appropriate equipment account and a credit to:
Prepare an internal short form income statement based on the following data for hotel Sivad, inc. The data is for the year ended September 30, 20XX
How would you define strategic planning? What are some differences between strategic and financial planning? What financial problems might an organization encounter when implementing a strategic plan?
How should the deferred tax amounts be classified in a classified balance sheet
Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3.
Compute Welch's gross pay, payroll deductions, and net pay for the full year 2014. Round all amounts to the nearest dollar
FNSACC501 - Provide financial and business performance information - FNS50215 -Calculate the ratios current, quick, accounts receivable turnover
Purchase orders, and sales invoices are not pre-numbered due to the higher cost of printing the forms.
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