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What will be the net book value of the machine at the end of its 8 th yr of use before it is disposed of, under each depreciation method?
Describe the differentiation between product versus general, selling, and administrative costs by setting up financial statements from the transactions in the problem. Respond to at least two of your classmates’ postings.
Calculate amount of realized gross profit on installment sales and deferred gross profit to be reported in the year end financial statements of Locken Corporation for the three years noted.
Evaluate the total labor variance and evaluate the labor price and quantity variances.
What is the inventory turnover for 2010? Ilustrate what is the accounts receivable turnover for 2010?
Find what transfer price would you recommend and why and evaluate what transfer price would you recommend if the Battery division is now selling 1,000,000 batteries a year to retail outlets?
Evaluate what amount of gain or loss should be reported on consolidated financial statements for 2010 and which of the subsequent will be included in a consolidation entry for 2011?
Identify by number the accounting assumption or principle that is described below. Do not use a number more than once and Is the rationale for why plant assets are not reported at liquidation value.
the company's receivable from Novinger Inc. is not collectible and thus management authorizes a write-off of $2,000. On 4th March, 2012, Tatum Co. receives payment of $2,000 in full from Novinger Inc.
Discuss fully the tax consequences of this gift to him, the partnership, his son, and the American Red Cross. Be sure to include the allocation of the current year’s partnership income.
Write the journal entries to reflect the percentage-of-completion method
They have charitable contributions of $2,500; deductible taxes of $4,000 and deductible mortgage interest of $7,000. They have 4 dependents. What is their taxable income?
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