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Question - Under Protection provides underground storage facilities for companies desiring off-site storage of sensitive documents, computer records, and other items. They have developed a sophisticated surveillance and security system which they initially used in their own facilities, and have recently started to market elsewhere as well. The underground storage facilities are made from natural caves in some instances (reinforced and modified as appropriate) and from excavations of natural rock formations in others. The land was purchased over ten years ago for a total of $2.5 million. The modifications have cost approximately $15 million more. The company has never depreciated its storage facilities because the market value of the property has continued to rise. Presently, the market price is between $30 and $40 million. Betsy Brantley, a new accounting manager, questioned this depreciation policy. Will Gray, the controller, has told her that she needn't worry about it. For one thing, he says, this is really a special form of Land account, which should not be depreciated at all. For another, this is a privately held company, and so they don't need to worry about misleading investors. All the owners know about and approve the depreciation policy. What are the ethical issues in this situation?
Horse Country Living publishes a monthly magazine for which a 12-month subscription costs $30. All subscriptions require payment of the full $30 in advance.
On November 1, 2020, Jean Higgins started a wedding planning company, Extraordinary Studios. Prepare a November income statement for the business
lusk company produces and sells 14700 units of product a each month. the selling price of product a is 29 per unit and
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The EOQ is the optimal lot size that minimizes the sum of holding & ordering costs. Is there any reason a company wouldn't want to use the EOQ?
Explain the unemployment rate and inflation rate for your local area and compare it to the national average
What is the most fundamental assumption regarding related party transactions that gives rise to the extensive disclosure requirements
What is the difference between future value and present value? What data do you need to future value or present value calculation
if 10-year t-bonds have a yield of 6.2 10-year corporate bonds yield 8.5 the maturity risk premium on all 10-year bonds
If the balance of the cash account is $185,000 at the end of the month, what was the cash balance at the beginning of the month
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