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Corporation acquired equipment for $260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. The equipment worked for 14,000 hrs in the first year, 10,000 hrs in the second year, 9,000 hrs in the third year, 4,000 hrs in the fourth year and 3,000 hrs in the fifth year. Using this information, answer the following. a. Calculate the depreciable cost of the equipment. b. If the asset is depreciated using the straight line method, calculate the depreciation expense at Dec 31, 2010 either using the straight line rate of the straight line formula. c. Determine the straight line depreciation expense for the fourth year. d. If the asset is depreciated using the straight line method, determine the book value of the asset at Dec 31 2012 (the end of the third year). e. If the asset is depreciated using the units of production method, calculate the depreciation expense at Dec 31, 2010 and at Dec 31, 2011 . f. If the asset is depreciated using the double declining balance method, calculate the depreciation expense at Dec 31, 2011 and at Dec 31, 2012 . g. If the asset is depreciated using the double declining balance method, determine the book value of the asset at Dec 31, 2013 .
What is the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?
calculate pv ratio and break even point in sales with the use of pv ratio from the per unit figures mentioned below
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Dean uses GAAP On its December 31, year 10 financial statements Dean will defer Gain on the sale of its current plant in the amount of?
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The Cosmo Company was started by issuing 800 shares of $10 par value stock at an average market price of $20 per share. Prepare journal entries to record the treasury stock transactions. Prepare the equity section of the balance sheet for Cosmo Compa..
Assume the bonds are sold at par, and that interest is paid semi-annually. Record below the sale and the first interest payment.
there are several ways a company can allocate overhead costs to products produced or services provided. two of these
Fitzgerald Company wrote checks totalling $17,080 during October and $18,650 during November. What was the amount of outstanding checks on November 30?
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How would you use the financial statement to determine when to the need for the purchase of inventory?
baxter corp uses a normal job order costing system with manufacturing overhead applied to products on the basis of
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