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Question - On January 1, 2021, the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 220,000 units during its life.
What is the depreciation for 2021 and 2022 using each of the following methods.
a. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.)
b. One hundred fifty percent declining balance. (Round final answers to the nearest whole dollar amount.)
c. If the equipment was purchased on October 1, 2021. Calculate depreciation for 2021 and 2022 using each of the two methods. Partial-year depreciation is calculated based on the number of months the asset is in service. (Do not round intermediate answers and round your answers to the nearest whole dollar amount.)
Calculate the impact (direction and amount) that the amortization of such expenditures would have on each company's Income from Operations in the current year.
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you are auditing the accounts receivable balance of a cable television provider. individual accounts receivables tend
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In addition, Austin estimates that the new machine will increase the company's annual net cash inflows by $35,000. The machine will have a 12-year useful life and no salvage value.
Jimmy owns a trucking business. During the current year he incurred the following:
Since its incorporation, Central has been involved in the manufacture of items that protect personal computers from static electricity. Unfortunately, this market is extremely competitive, and Central Corporation incurs substantial losses througho..
B. P. Palmer is the chief executive officer of Future Products. Palmer is an expert engineer but a novice in accounting. Instructions Write a letter to B. P.
If the balance of the cash account is $200,000 at the end of the month, what was the cash balance at the beginning of the month?
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