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Young Corp. purchased equipment by making a down payment of $4,000 and issuing a note payable for $18,000. A payment of $6,000 is to be made at the end of each year for three years. The applicable rate of interest is 8%. The present value of an ordinary annuity factor for three years at 8% is 2.58, and the present value for the future amount of a single sum of one dollar for three years at 8% is .735. Shipping charges for the equipment were $2,000, and installation charges were $3,500. What is the capitalized cost of the equipment?
What kind of an accounting change is this? It indicates that TimeWarner rapidly changed its position with regard to these lawsuits. Is this a change in accounting principle?
Using Variable Costing to Make Business Decisions - How many care washes will Clean Machines need to do in order to earn John's target profit of $40,000?
Rhianna and Jay are married filing jointly in 2009. They have six children for whom they may claim the child tax credit. Their AGI was $123,440. What amount of child tax credit may they claim on their 2009 tax return?
Make the journal entries necessary to record the transactions above using appropriate dates
Evaluate the amount of the original loan and What effective annual rate of return did I make on my investment on the basis of compound interest
Cost of goods manufactured, balance in the raw materials inventory account and the cost of goods manufactured for May
The bond has a stated interest rate of 6 percent. On January 1, 2011, when the bond was issued, the market rate was 8 percent. The bond pays interest twice per year, on June 30 and December 31. At illustrate what price was the bond issued?
Calculation of value of the ending inventory - The dollar value of the ending inventory using full costing will be?
Illustrate what three items comprise “Other reserves” as reported in the balance sheet? If British Airways used U.S. GAAP, what would be the likely account titles for the three items?
Evaluate the total number of dinner cruises that Luxury Cruiseline must sell to break even and determine the number of regular cruises and executive cruises company must sell to breakeven.
Aberdeen Corp. uses activity-based costing system with three activity cost pools. The following cost information is provided: How much total cost would be allocated to the Assembly activity cost pool?
Identify factors that will influence the selection of measurement approach
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