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Teague Company purchased a latest machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an 8-year life and a $15,000 salvage value. The machine is expected to form 675,000 finished products during its eight-year life. Smith produced 70,000 units in 2012 and 110,000 units during 2013.Required:Verify the amount of depreciation expense to be recorded on the machine for the years 2012 and 2013 under every of the following methods:
Discuss and give reasons why a business would act in a socially responsible manner. Part A: 'Two of the key accounting reports available to users of accounting informati
a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
what is account
Obtain the relevant authoritative literature on accounting for accounts receivable using the FASB''s Codification Research System at the FASB website. What is the specific citation
please explain cycle of accounting
Q. What is Net realizable value? Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of a
If partners do not draw up a partnership agreement, the provisions of the Partnership Act apply on which statement is true like a provision of the Partnership Act? A Interest on
Received security deposit from tenants
Q. Describe the accounting procedures? The demand for college professors differ greatly by discipline. In fields such like Fine Arts, English, Philosophy and Psychology there i
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