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Q Spoiled Baby Corp sells baby buggies and has started an equipment replacement project. You are needed to evaluate the Book Value of each of its fixed assets and make decisions regarding the purchases, disposition of various assets and trades. Show your recommendation and justify your position for each of the subsequent events. 1. SPC purchased a tube extruder on 3rd April, 2007 for $27,000. It has a useful life of 10 years and a residual value of $4,000. SPC used double declining balance depreciation for this asset. On 19th February, 2012 SPC has an offer to sell this unit for 8,000. 2. SPC purchased a winding machine on 28th July, 2012 for $21,000. It has a useful life of 6 years or 12,000 hours. It has a residual value of $3,000. SPC is unsure whether to use straight line depreciation or units of production. It anticipates using equipment just about 3000 hours each year. 3. SPC purchased a funneling machine on 9th February, 2009 for $72,000. It has a useful life of 5 years and a residual value of $12,000. SPC has used Straight line depreciation for this gear. SPC has evaluated that this equipment no longer meets its needs and has decided to exchange this unit for a new model. The new Model has a MSRP of $100,000. On 28th December, 2012 SPC will exchange its equipment for new Model and pay $77,000. 4. SPC has a fully piece of equipment that is presently fully depreciated on its books. This equipment is no longer used and SPC wants to get rid of it. The cost of equipment is $10,000. The company has been presented $300 for its parts. Find what is journal entry that would record this transaction?
Wilson Company's activity for the first six of the current year, Using the high-low method, Evaluate the fixed portion of the electrical cost each month
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For every situation, show whether the first or second type of evidence is more reliable. Give a rationale for your choice.
Discuss and describe whether Betty get out of this contract? You must examine each element of a valid contract in your discussion along with any exceptions
Daniel's marginal tax rate is 35% and he has $120,000 of other capital gains (taxed at 15 %), evaluate the tax savings from the special tax treatment?
The contribution margin in mall store is $200,000. Total fixed costs are $90,000 in downtown store and $93,000 in the mall location. How much are sales at mall location?
Prepare the Income Statement for the year ended December 31, 2008 and Prepare the Statement of Retained Earnings for the year and Prepare the Balance Sheet at December 31, 2008
Evaluate the overhead cost of an 8-labor-hour job requested by Jasmine's Fine Jewelry? How does this compare to the overhead cost charged to such a job in the prior year?
Had cash flow statement been prepared using the direct method, Evaluate the amounts for? Cash received from Customers.
Describe what he must do to obtain the same cash flow as he could have gotten from investing in 1000 shares in the proposed levered firm
What would be the financial impact of spending this additional money on advertising for the month of February
Prepare a complete statement of cash flows
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