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A machine was purchased for $30,000. Shipping charges were $600 and install was $400. It has a useful life of 8 years. At the end of 8 years it will require $900 of dismantling charges to be sold for $6,000. What is the depreciation charge for the first year and what is the Book Value at the end of the first year using a) straight line b)declining balance.
On 6/30/12, a company paid $106,000 to retire a bond before maturity. The company recorded a $6,000 loss as part of the transaction. Which of the following must be true regarding this transaction?
Prepare the journal entries to record the bond transactions. (Round to the nearest dollar.) What is the total cash paid in 2014 for each of the bond issues?
Sales and receivables are entered at a gross selling price. Sales and receivables are entered net of cash discounts.
Genesis Energy’s newly established operations management team decided to seek outside assistance in developing a long-term operating plan that also addresses the financial issues identified. Describe and evaluate the financial environment at Genesis ..
When a debtor fails to pay a debt, and the value of the collateral is less than the full amount of the debt, which of the following is generally true - distinction between secured and unsecured credit
Discuss whether the old lease accounting standard (AASB 117) is to blame for, or has contributed to, some companies' failures during the financial crisis (i.e. Border in Australia)?
After recording the transactions in E6A, prepare a trial balance in proper sequence for Ferdinand Repair Service, Inc., as of June 30, 2014.
How is the gain on the investment in Marston stock reported in Acadia's 2010 financial statements?
During the current period, Department A finished and transferred 50,000 units to Department B. Of the 50,000 units, 20,000 were 1/5 complete at the beginning of the period and 30,000 were started and completed during the period.
Man of War Company adopted a stock-option plan on April 30, 2013, that provided that 500,000 shares of $10 par value stock be designated as available for the granting of options to officers of the corporation at a price of $26 a share. The market pri..
One of the differences in the philosophies is the use of temporal and current methods. These two methods allow for use of different rates depending on the account/item. These different rates can create large discrepancies based on the method used and..
calculation of a cost charged to a project.the logistics department serves two operating divisions-an atlantic division
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