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Valley Corporation purchased a new piece of equipment on June 1, 2011. The cost of this machine was $325,000. The company estimated that the machine would have a salvage value of $25,000 at the end of its service life. Its life is estimated at four years and its working hours are estimated at 50,000 hours. Year end is December 31.
Compute the depreciation expense under the following methods. Each of the following should be considered unrelated.
1. Straight-line depreciation for 2011.2. Units of production method for 2011, assuming that machine usage was 13,000 hours.3. Sum-of-the-years'-digits for 2012.4. Double-declining balance for 2012.
How to record the adjustment on a journal: Employee salaries in the amount of $55,000 were incurred for the year. Of that amount $50,000 had been paid in cash, the remainder was still owed to employees at the end of the year. Record the journal entry..
Compute the cost of civilian and military versions of Model KV10 using both direct labor dollars and machine hours as alternative allocation bases. Explain why Pelton Instruments may decide to use direct labor as an overhead allocation base.
When testing the occurrence objective for sales, the auditor is concerned with the possibility of three types of misstatements. One type is sales being included in the journal for which no shipment was made. Discuss other two types of misstatement..
If a single-rate cost-allocation method is used, what amount of operating costs will be budgeted for the Lamp Division each month? For the Flashlight Division each month?
What methods are used to allocate the cost of operating assets and how do I know which one to choose for a particular operating asset?
Compute the unit contribution margin for each product. Determine which product should be produced in priority, given the labor constraint, and explain why.
What is the direct labor quantity variance in July?
You are given information about Doha Company which is a service company located in Qatar. You are expected to analyze, record and communicate that information by using Microsoft Excel.
Which of the following would not be found in a Schedule of Noncash Investing and Financing Activities, reported at the end of a Statement of Cash Flows?
What aspects of the company can you change in order to reduce the amount of fraud that is accruing? Use five most known factors relating to creating a culture of honesty, openess, and assistance to explain your answer.
Which measurements currently reported in balance sheets are not consistent with the physical capital maintenance concept?  Give examples
Base on best buy 10-K form and other sourse to answer following question. List five groups that use a company's annual report and explain the reason for each group's interest in this report.
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