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On June 1, 2004, XYZ Company paid 360,000 to purchase land, building and equipment. The market value of these assets on that date were land 90000; building 260000 equipment 50000. Before the facilities could be used, XYZ company had to spend 4,000 to put the equipment in working order and 15000 to renovate the building. The equipment was then estimated to have a useful life of 10 years with 7000 salvage value. The equipment will be depreciated using the straight-line method. On December 31, 2010, XYZ company sold the equipment for 26000 cash. Calculate the gain recorded on the sale
question the flexible budget at the 70000-unit and the 80000-unit levels of activity is given below.70000 units 80000
Pilot Corporation purchased land for $480,000. Later in the year, the company sold land with a book value of $288,000 for $328,000. How are the effects of these transactions reported on the statement of cash flows?
Regal Products has a budget of $900,000 in 20X6 for prevention costs. If it decides to automate a portion of its prevention activities, it will save $60,000 in variable costs. The new method will require $20,000 in training costs and $150,000 in annu..
The Note Payable was issued on December 1, 2011. The terms of the note state that the principal and interest is to be paid two years from the issuance date. The interest rate stated on the note is 3 percent.
Computation of contribution margin which is of variable costing method income statement - This order would have no effect on the company's regular sales and the order could be fulfilled using the company's existing capacity without affecting any ot..
1.Following are two income statements for Alexis Co. for the year ended December 31.
Compute these: 1. The actual cost of material used per unit of product produced this year. 2. The standard materials cost per machine hour. 3. The budgeted direct labor cost for each unit produced.
Extraordinary gain, net of tax of 30%, is $21,000. Prepare an income statement, including earnings-per-share data, giving supporting computations. Caribou Inc. has 130,000 shares of common stock outstanding.
Prepare the cash flows from operating Activities section of the statement of cash flows, using the indirect method.
Prepare a financial statement worksheet
total payroll of walnut co. was 184000 of which 320000 represented amounts paid in excess of 106800 to certain
Assume that each division is provided with an investment opportunity that could produce 20 percent return on investment. Which divisions would accept or reject it?
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