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1. What are the various points or factors you would consider while choosing a method of depreciation for plant and equipment of an electricity company? Explain with examples.
Generally accepted accounting principles (GAAP) require loss contingencies to be accrued in the period the contingency becomes known. However, GAAP specifically disallows booking gain contingencies until the gain is realized.
Karen, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Karen's basis in the land is 275,000, the corporation assumes a liability on the property in the amount of 300,000...
evaluate the comments that follow as being true or false. if the comment is false briefly explain why.a. both the
The gross pay and deductions for payroll to the general ledger
Using the activity base info in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, COmmercial, and Government contract divisions from payroll and purchasing services.
mizzou mining company mines an iron ore called alpha. during the month of december 400000 tons of alpha were mined and
meyer co. follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. the
The fair market calue of 747 aircraft at december 31,2009 is 30,500,000. If the midwest chose to sell the aircraft on this date would it record a gain or loss on sale and if so, how much?
Refer to the information above. If Retained Earnings at December 31, 2014, is $100,000, Equipment is carried in Hercules Manufacturing, Inc. accounting records at:$42,000.$58,000.$43,500.$345,000.
With respect to strategic management, what types of competitive strategies are the most effective?
demmert manufacturing incurred the following expenditures during the current fiscal year annual maintenance on its
a company purchased a machine valued at 66000. it traded in an old machine for a 9000 trade-in allowance and the
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