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On January 1,2020, Canyon Company decided to decrease the estimated useful life of the patent from 10years to 8 years. The patent was purchased on January 1,2015 for P3,000,000 with estimated residual value of zero. The entity decided on January 1,2020 to change the depreciation method from accelerated method to straight line. On January 1,2020, the cost of the equipment is P8,000,000 and the accumulated depreciation is P3,400,000. The remaining useful life of the equipment on January 1,2020 is 10years and the residual value is P200,000.
Problem 1: What is the total charge against 2020 income as a result of accounting changes?
the discussion activity for module 1 is based on case 1.1 reliability of financial statements in financial and
What other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month
An article recently appeared in the Wall Street Journal indicating that companies are selling their receivables at a record rate. Why are companies selling their receivables?
Compute the ratio of cash to monthly cash expenses. Round to one decimal place
What is the parent's share of consolidated net income for 2018 if Ackerman owns only 90 percent of Brannigan and the equipment transfer was upstream
You will complete a return for a sole proprietor based on provided scenario and prepare a memorandum providing professional recommendations in the informational areas indicated.
Q Like-Kind Exchange Xenon Corporation can sell an auto used in its business for $4,000 and purchase a new auto for $20,000. Alternatively, it can trade in the auto on a new one from a different dealer.
Evaluate the "never change" policy. Does it make any sense? Why would firms adopt such a policy
He pays $25.50 in union dues per pay period. Calculate Terry's net pay; He lives in Alberta and is a claim code 3 for both Federal and Alberta
Do you have any advice for Logan? The Dirty Accountant? Logan Johnson is a recent graduate of MidUniversity's accounting program.
Perform at least one profitability ratio to measure the income and operating success of your selected company - Perform at least one liquidity ratio to measure the ability of the company to pay short-term debt and meet unexpected needs.
Prepare a memo detailing the remittance responsibilities and legal consequences of non-compliance with statutory remittance requirements.
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