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Question - Herman Apparel has purchased equipment on January 1, 2018, for 5.528.000. In 2018-2020. Herman depreciated the asset on a straight-line basis with an estimated useful life of eight years and an $80,000 residual value. In 2021: Herman has started to change its business strategy and now believes that the equipment will be used for only another two years five years total but does not believe the residual value has changed. What depreciation would Herman record for the year 2021 on this equipment?
atlas steel company produces three grades of steel high good and regular grade. each of these products grades has high
Cash disbursements totaled $855 and cash receipts totaled $1050. How much is the ending balance in the Cash account
02/01 Bought 40,000 of the 100,000 outstanding shares of the A corporation for $400,000 as trading securities. Write journal entry
Plum's basis in the computers is $70,000, and their fair market value is $250,000. What is Plum's deduction for the contribution of the computers (ignoring the taxable income limitation)?
Describe any business process, its objective(s) and the general flow of paperwork/decisions. For example, the objective of the Purchasing process is to buy item
at december 31 2010 kifer company had 500000 shares of common stock outstanding. on october 1 2011 an additional 100000
In 2020 GBC Corp had taxable income of 2.5 million on Line 30 of the Fed Form 1120. Taxes paid to federal US - $500,000. Compute GBCs Earnings and Profits
explain some of the advantages and disadvantages of standard costs? if you were or are a manager how do you determine
Katherine Brewer is the owner and operator of Personality Shine LLC, a motivational consulting business. At the end of its accounting period, December 31, 2013, Personality Shine has assets of $756,000 and liabilities of $181,000. Using the acc..
What are the usual parts in the Equity section of the balance sheet? What is the revenue recognition criteria under IFRS
Calculate the net present value of the investment opportunity. (Negative amount should be indicated by a minus sign. Round your intermediate calculations)
Frank makes a $25,000, 90-day, 7% cash loan to Clayborn Co. What is the amount of interest that Frank will collect on the loan
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