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International Accounting
On January 1, year 1, an entity acquires a new machine with an estimated useful life of 20 years for 100,000. The machine has an electrical motor that must be replaced every five years at an estimated cost of 20,000. Continued operation of the machine requires an inspection every four after purchase; the inspection cost is 10,000. The company uses straight-line method of depreciation. What is the depreciation expense for year 1?
A. 5,000B. 5,500C. 8,000D. 10,000
For a leased asset under a lease that qualifies as a capital lease, the depreciation period used by the lessee must be:
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XYZ Corporation, with a division located in Germany, must translate its financial statements from euros to U.S. dollars. What is the major issue involved in translation?
Rooney Inc. recently completed a 3-for-2 stock split. Prior to the split, its stock price was $90 per share. The firm's total market value was unchanged by the split.
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