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On March 31, 2006 Pong corporation paid its wholly owned subsidiary sung company $222500 for a plant asset having a carrying amount to sung of $200000. Pibg established an economic life of five years no residual value and the sum of the years digits method of depreciation for the plant asset. The appropriate working paper elmination for pong and subsidiary for the fiscal year ended March 31, 2007, includes a credit to depreciation expense pong in the amount of how much
John's specialty store uses a perpetua; inventory system. The following are some inventory transactions for month of May 2009: 1. John's purchased merchandise on account for $5,000.
In the past year, TVG had revenues of $3 million, cost of goods sold of $2.5 million, and depreciation expense of $200,000. What is the firm's times interest earned ratio?
Compute the amount of call center support costs allocated to each product line under the current system.
What issues will create variances within a company? What other information can we derive from our variance analysis? What expenses would you imagine to be fixed in nature?
Compute the work-in-Process transferred to the finished goods warehouse on April 30 using the following information:
which of the following accounts is a monetary item?
if you are driving in your own car to another city, how much will it really cost you to make that drive? Should you include the cost of the car, part of the cost of the car, none of it? What if a friend asked if he could ride with you? What is the..
On March 1, 2009, Warren sold 30 million common shares. In keeping with its long-term share repurchase plan, 2 million shares were retired on June 30. Warren's net income for the year ended December 31, 2009, was $1,050,000,000. The income tax rat..
White Industries started their operations on January 1, year 1 and recorded $400,000 in warranty expense during the year. Warranty expense was the only difference between the company's pretax financial income and its tax return income of $900,000.
Using the net present value method, the present value of cash inflows for Project A is $44,000 and the present value of cash inflows of Project B is $24,000. If Project A and Project B require initial investments of $40,000 and $20,000, respective..
On January 1, year 1, an entity acquires a new machine with an estimated useful life of 20 years for 100,000. The machine has an electrical motor that must be replaced every five years at an estimated cost of 20,000.
Which of the following statements correctly describes the proper accounting for nonmonetary exchanges that are deemed to have commercial substance?
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