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Uses a special piece of equipment in its packaging business. The equipment was purchased on 1/1/2002 for $6,000,000 and had an estimated useful life of 6 years and no salvage value. On december 31, 2003, new technology was introduced that accelerated the obsolescence of Oh No!'s equipment. The controller estimates that expected future net cash flows on the equipment will be $3,250,000 and that the fair value of the equipment is $3,000,000. What is the amount of impairment on the equipment?
you have been asked to discuss the role of the financial accountants and managerial accountants functions in
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Dimitrov Corporation, a company that produces and sells a single product, has provided its contribution format income statement for July.
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Prepare the journal entry to record the issuance.
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Assume that a certain nursing home has two categories of payers. Medicaid pays $65.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected.
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