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Questions -
(1) Purity Manufacturing Ltd. has been depreciating their building using straight line method over 50 years. The current carrying amount is $775,000 they use a residual value of $45,000, and there is currently a remaining useful life of 20 years. After engineers inspected the building at the end of the prior year, they found the estimated useful life to actually be another 25 years. If management agrees to use the new estimated useful life, what should the amortization expense be going forward?
(2) On April 1st 2021 one of the water bottling machines breaks down and is given away to a metal recycler. The cost on the machine was $65,000 and accumulated amortization was $62,500. Should this transaction be recorded? If no, why not? If yes, prepare the required journal entry with description.
Prepare the stockholders' equity section of Blank Company's balance sheet at May 31, 2010. Net Income earned during the first three months was $15,000.
Included in the Acceptance Testing will be verification of the system outputs, ie reports etc. What types of activities could Andrew include in the Acceptance Test to provide evidence that the system is operating correctly?
Gage's U.S. tax rate is 40 percent of income. What transfer price is economically optimal for Gage Corporation
If all the current assets were liquidated today, the company wouldreceive $805,000 million cash. What is the book value of Klingon's assets today? What is the market value?
Assuming no further processing work is done after the split off point, the amount of joint costs allocated to commercial building lumber (CBL)
Pick a profit margin and then for 3 different scenarios calculate the direct and indirect costs of those incidents and the amount of good.
Target operating income, value-added costs, service company. Calvert Associates prepares architectural drawings to conform to local structural-safety codes.
Suppose instead that fair weather prevails and, by show time, 20,000 concert tickets were sold. What is the total profit or loss?
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common and determine the amount of dividends paid each year to each of the two classses of stockholders assuming that the preferred stock is ..
Calculate the markup percentage on the total cost per training session. Determine the total cost per training session. Determine the desired ROI per training
Identify the major stakeholders. what are the consequences and If Wilkens Company was using the FIFO method of inventory costing, would Lenny Wilkens give the same order? Why or why not?
Find What was the contribution margin of the Audio Segment? Nolan Company has two segments: Audio and Video. Sales for the Audio Segment were P500,000
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