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1. Error and Change in Estimate-Depreciation Tarkington Co. purchased a machine on January 1, 2007, for $440,000. At that time it was estimated that the machine would have a 10-year life and no salvage value. On December 31, 2010, the firm's accountant found that the entry for depreciation expense had been omitted in 2008. In addition, management has informed the accountant that the company plans to switch to straight-line depreciation, starting with the year 2010. At present, the company uses the sum of-the-years'-digits method for depreciating equipment. Prepare the general journal entries that should be made at December 31, 2010 to record these events. (Ignore tax effects.)
How and why would you account for the impairment of intangible assets?
(a) Calculate a pooled estimate of their assumed common true failure rate. (b) Calculate the test statistic (1.7). How many degrees of freedom does it have? Look up the 95 and 99% points of the corresponding chi-square distribution.
How do your answers to part a of the previous problem change if, instead of incurring a $40 penalty cost for each shortage, the store has a service level requirement of meeting 95% of all customer demands on time?
stine company uses a job order cost system. on may 1 the company has a balance in work in process inventory of 3750 and
charles austin of the controllers office of thompson corporation was given the assignment of determining the basic and
Prepare a schedule to compute expected cash collections for the month of May and Prepare a schedule to compute expected cash payments for the month of May
Who are the stakeholders in situation and what are the ethical issues involved - decrease depreciation expense and require less extensive disclosure, since the changes are accounted for prospectively.
forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the
lohorman corp is a major supplier to makers of outdoor power equipment. according to the companys annual report
Bonds payable callable. Hurley Co. has outstanding $30 million face amount of 15% bonds that were issued on January 1, 2001, for $29,250,000. The 20 year bonds mature on December 31, 2020, and are callable at 102 (that is, they can be paid off at any..
1. which of the capital budgeting techniques do you think is the most accurate? why?2. why do we have to discount a
madison corp had two issues of securities outstanding common stock and a 5 percent convertible bond issue in the face
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