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1. Calaf's Drillers erects and places into service an off-shore oil platform on January 1, 2011, at a cost of $10,000,000. Calaf is legally required to dismantle and remove the platform at the end of its useful life in 10 years. Calaf estimates it will cost $1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years. (The fair value at January 1, 2011, of the dismantle and removal costs is $450,000.) Prepare the entry to record the asset retirement obligation.
TILFX invests in some selected high growth stocks of consistent good performance and TILDX invests in high dividend yield stocks. If you had to choose a fund, explain which one you would buy and why?
the massoud consulting group reported net income of 1386000 for its fiscal year ended december 31 2013. in addition
in 2007 nike settled a class action lawsuit filed on behalf of 400 african american employees of the companys niketown
The lease contract calls for annual (prepaid) rental payments of $80,000 on each July 1 throughout the life of the lease and for the lessee to pay for all additions and improvements to the leased property.
A cost can be either an asset or an expense.
a piece of wire 22 m long is cut into two pieces. one piece is bent into a square and the other is bent into a circle.a
upward stock splits are different from stock dividends but both of them result in an increase in the number of
song earns 171000 taxable income as an interior designer and is taxed at an average rate of 28 percent i.e. 47880 of
On June 30, Gull distributes $120,000 to Sharon, its sole shareholder, who has a basis in her stock of $75,000. How much of the $120,000 is a dividend to Sharon?
Under IFRS, cash and cash equivalents are reported: (a) The same as GAAP.
assume there is no beginning work in process inventory and the ending work in process inventory is 100 complete with
thomas corporation recorded sales of 117361 during march. management expects sales to increase 5 in april another 2 in
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