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Capitalizing vs. expensing - effect on ROI and operating income.
During the first month of its current fiscal year, Away Co. incurred repair costs of $20,000 on a machine that had five years of remaining depreciable life. The repair cost was inappropriately capitalized. Away Co. reported operating income of $160,000 for the current year.
A. Assuming that Away Co. took a full year's straight-line depreciation expense in the current year, calculate the operating income that should have been reported for the current year.
B. Assume that Away Co.'s total assets at the end of the prior year and at the end of the current year were $940,000 and $1,020,000 respectively. Calculate ROI (based on operating income) for the current year using the originally reported data and then using the corrected data.
C. Explain th effect on ROI of subsequent years if the error is not corrected.
question 1franks machine shop operates 250 days per year. frank sells 5000 units per year of his most popular item a
Determine which major balance sheet information requires supplemental disclosure. Illustrate your points with examples
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Techno Logics specializes in producing gear for high-tech gadgets, such as laptop computers, cell phones, and personal music players.Preparing sales, production, direct materials purchases, and direct labor cost budgets
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Preparing Standardized Financial Statements. JUST DEW IT CORPORATION Balance Sheets as of December 31, 2001 and 200.
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From mechanical engineering solve the question below as shown in the image.
A company produces? 1,000 packages of chicken feed per month. The sales price is? $4.00 per pack. Variable cost is? $1.50 per? unit, and fixed costs are? $1,700 per month. Management is considering adding a vitamin supplement to improve the value of ..
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