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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
You are considering starting a walk-in-clinic. Your financial projections for the first year of operations are as follows: Revenues (10,000 visits) $400
Using the information below, list profit statements for June and July using (a) margin costing and (b) absorption costing. A company produces and sells 1 product only which
2001 2002 sale 3200 units 3500 units selling prise Rs.60 Rs.65 unit produced 3400 units 3600 units direct metrial Rs 23 25
William Potter is a plumber currently operating as a Sole Trader in Levin. William has approached you, a tax accountant, for your advice on certain tax matters. William's brothe
Why is it important for financial statements and other external reports to be based on generally accepted accounting principles?
Place a prepared slide of Giardia first under tlie low power and then under the high power of the microscope and observe tlie followilig characters. i) Bilaterally symmetrical
Beginning inventory on March 1 consisted of 2,000 units each costing $11.20. During March, the following was purchased for inventory: Date Purchase
the following information relates to process 3 of a three stage production process for the month of january 2014. opening inventury 300 units comlete as to; material from proces
explain about ruckerplan
concepts of cost
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