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1. Ecklund Company purchased land and a building on January 1, 2010. Management's best estimate of the value of the land was $100,000 and of the building $200,000. But management told the accounting department to record the land at $220,000 and the building at $80,000. The building is being depreciated on a straight-line basis over 20 years with no salvage value. Why do you suppose management requested this accounting treatment? Is it ethical?
first net systems is a start-up company that makesconnectors for high-speed internet connections. the company has
For both Machine use straight line depreciation to zero over the projects life and assume a salvage value of $40,000. if your tax rate is 35 percent and your discount rate is 10 percent , compute the EAC of both machines
Operating income/(loss) and tax rates for Lombard Corporation for 2012 through 2015 were as follows: 2012: $150,000, 30%; 2013: $250,000, 35%; 2014: ($500,000), 35%; 2015: $700,000, 40%. Assuming that Lombard opts to carryback its 2014 NOL, what i..
donnelly corporation manufactures and sells t-shirts imprinted with college names and slogans. last year the shirts
to purchase a house a homebuyer takes out a mortgage borrowing 260000 at the annual interest rate 3.9 compounded
e-commerce creates its own risks and therefore special internal controls. 1 identify and explain one pitfall and one
Using the concept of information risk and its components, discuss why you decide to hire C?
slagle corporation is a large manufacturing organization. over the past several years it has obtained an important
They estimate that the old machine could be sold at the end of 4 years to net $15,000 before taxes; the new machine at the end of year 4 has a value of $75,000 that is relevant to the proposed purchase of the new machine. The firm is subject to a ..
the auto repair shop of quality motor company uses standards to control the labor time and labor cost in the shop. the
downsizing right-sizing or becoming lean has advantages and disadvantages for organizations. what are some of the
On December 31, 2012, the accountant had estimated the total tax for 2012 to be $123,600 and had recorded a liability of $3,600 for federal income tax payable.
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