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At the end of Year 1, Herkimer & Co. sells two laptops for $1,800 each. Based on the information in RE11-6 in Year 1, prepare the journal entries to record the purchase of the laptops, the depreciation on the laptops, and the sale of the laptops.In RE11-6, At the beginning of Year 1, Herkimer & Co. purchases a group of 7 laptops for its new hires. The laptops are purchased for $2,300 each with a residual value of $500 each. Herkimer & Co. expects the laptops to be used for three years.Compute the depreciation rate per year for the group.
acme birds inc. produces bird seeds. all direct materials used in the production process are added at the beginning of
Samson Inc. needs €1,000,000 in 30 days. Samson can earn 5 percent annualized on a German security. The current spot rate for the euro is $1.00. Samson can borrow funds in the U.S. at an annualized interest rate of 6 percent. If Samson uses a mone..
production and cash-outlay computations rpr inc. anticipates that 120000 units of product k will be sold during may.
Fielder Company obtained by issuing 2,000 shares of its $10 par value common stock. The land was recently appraised at $85,000. The Common Stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of land.
Obtain a detailed report which is based on an intensive investigation of the financial position of sales department, production department and research and development department.
Which of the following measures of performance encourages continued expansion by an investment center so long as it is able to earn a return in excess of the minimum required return on average operating assets?
denny removal company removes potentially toxic asbestos insulation and related products from buildings. the companys
Enviro Company issues 8%, 10 year bonds with a par value of$250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 1/2. The straight-line method is used to al..
What is a fund and how is it used? How does the balance of a fund represent the available spendable resources of the entity?
For the year ended December 31, 2007, May's bad debt expense would be ??
How do you calculate total book value of shares before the dividend if the shareholder has 850 shares and book value per share is $38.18 ?
Blue should have taken $455 and $3,636 cost recovery in 2005 and 2006. On January 1, 2007, the asset was sold for $98,000. Calculate the gain or loss on the sale of the asset in 2007.
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