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A plant asset with a cost of $44,200 and accumulated depreciation of $36,300 is sold for $8,900.
Required a. What is the book value of the asset at the time of sale?
b. What is the amount of gain or loss on the disposal?
c. How would the sale affect net income (increase, decrease, no effect) and by how much?
List all general ledger account balances in the unadjusted trial balance columns of the worksheet. Use the sum function in Excel to total the debit and credit columns. These totals should be equal.
Ken Co. uses standard costing for accounting
Land containing a mine having an estimated 1,000,000 tons of economically extractable ore is purchased for USD 375,000. After the ore deposit is removed, the land will be worth USD 75,000. If 100,000 tons of ore are mined and sold during the first ye..
(Common stock valuation, constant growth) You've discovered a company that is expected to pay $2.25 dividend at the end of this year. The dividend is expected to grow forever at a constant rate of 4% a year. The required rate of return for this s..
FACTS: Samer Corp. uses a job order cost accounting system. The following is selected information pertaining to costs applied to jobs during the year. Jobs still in process at the end of the year: $167,000, which includes $65,000 direct labor costs. ..
multiple choice questions on cost management basics.1. the book value of an old machine is always considered a sunk
Complete the excel assignment based on medical payment.- Follow the directions "Patient data for day sheets" to complete the "DaySheets" document that is also attached.
Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. ..
Find out the contribution margin in dollars, per unit, and as a ratio. Using the contribution margin technique, compute the break-even point in dollars and in units.
Compute the Times-interest-earned ratio, Inventory turnover, Gross profit percentage, Debt to equity ratio, Rate of return on common stockholders' equity, Earnings per share of common stock and Price/earnings ratio.
Prepare the required adjustments to the trial balance data at 30 June 2012. Explain the operation of the two tier system of financial reporting in Australia.
A product has a contribution margin ratio of 50% and selling price of $12 per unit. Fixed costs are $15,000. Assuming the company increases the selling price to $16 and doubles fixed costs, what is the breakeven point in units? Please show me the wor..
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