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A corporation acquired a truck on July 1, 2012, at a cost of $162,000. The truck has a six-year useful life and an estimated salvage value of $18,000. The straight-line method of depreciation was used. On January 1, 2015, the truck was overhauled at a cost of $15,000, which extended the useful life of the truck for an additional two years beyond that originally estimated (salvage value is still estimated at $18,000). In computing depreciation, the corporation uses the nearest full month assumption to calculate depreciation.Calculate the depreciable base of the truck, before and after the overhaul on January 1, 2015.Prepare the appropriate entries for January 1, 2015 and December 31, 2015
A local delivery company has purchased a delivery truck for $15,000. The truck will be depreciated under MACRS as a five year property. The trucks market value (salvage value)
Campground Inc. is considering the production and sale of propane lamps. Annual fixed costs associated with the project are expected to total $60,000. In addition, each lamp would
Advantages and Disadvantages of Uniform Costing Advantages 1. It enables costs to be compared simply 2. It makes it easier to computerize the accounting system of d
Time Analysis - Cost Accumulation This is generally achieved via having the employee complete a daily or weekly timesheet or via contain job cards or piecework tickets. As whe
Cube Manufacturing began two jobs during May 200X. The company had no beginning inventory. The following information is available:
Bubba's Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year, overhead is estimated at $1,150,000, and direct labor
given the following : Constant $21,800 Std.error of Y Est. 4,500 R squared 0.7832 Observations # 22 X coefficient 11.75 Std.error of Coef.
Bakeson Bearings Ltd is preparing to submit a bid for a bearings order. Janet Lake, CEO of the Manufacturing Division, has asked Jason Docker, the management accountant, to prepa
Hello, I''m currently doing a research on a company and planning an Activity Based Costing system since the company is using Traditional Costing system to allocate the overhead to
The follow data relates ot year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dir
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