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1. Cominsky Company purchased a machine on July 1, 2011, for $28,000. Cominsky paid $200 in title fees and county property tax of $125 on the machine. In addition, Cominsky paid $500 shipping charges for delivery, and $475 was paid to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 6 years with a salvage value of $3,000. Determine the depreciation base of Cominsky's new machine. Cominsky uses straight-line depreciation.
Calculate each of the following amounts as of both December 31, 2011, and December 31, 2012:
on november 1 2013 ziegler products issued a 200000 9-month noninterest-bearing note to the bank. interest was
A government's Statement of Revenues, Expenditures and Changes in Fund Balances reflected proceeds of bonds in the amount of $1,000,000. That statement also reflected expenditures for debt service in the amount of $3,000,000, including $2,600,000 ..
lopez company began operations on january 1 2010 and it estimates uncollectible accounts using the allowance method.
Requirement - Prepare the journal entries necessary to record the activity during December. Include a brief explanation for each entry. Post your entries to the General Ledger Accounts and Subsidiary Ledger Accounts.You may find that you will need to..
Compute the company's cost of goods sold for fiscal 2012 assuming the company used a) FIFO and b) LIFO methods of accounting for inventory:
What is the difference in the present value if you receive these payments at the beginning of each year rather than at the end of each year?
dupont reports in a recent balance sheet 598 million of 5.25 percent notes payable due in 2016. the companys income tax
Computer equipment and a service retail store.
sanai manufacturing company produces and sells 40000 units of a single product. variable costs total 80000 and fixed
It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?
Prepare journal entries to record the accounting for both the normal and abnormal rework. What were the total rework costs of XD1 chips in August 2011?
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