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Cardco Inc. has an annual accounting period which ends on December 31. During the current year a depreciable asset which cost $42,000 was purchased on September 2. The asset has a $4,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 5 year life. What is the total depreciation expense for the current year?
A machine originally had an estimated useful life of 5 years, but after 3 complete years, it was decided that the original estimate of useful life should have been 10 years. At that point the remaining cost to be depreciated should be allocated over the remaining:
On December 31, 2010, Stable Company sold a piece of equipment that was purchased on January 1, 2005. The equipment originally cost $820,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain/loss on the sale of equipment that Stable will recognize if the equipment was sold for $230,000?
Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the BC Candy Company balance sheet and income statement at the end of 2010 and 2011.
Fixed rate notes and bonds have interesting dynamics that respond to various economic factors affecting the market or fair value of those instruments. There are several potential results from the issuance of fixed rate instruments.
Martin Company sells a certain product for $15 per unit. The beginning inventory is 40,000 units, and the desired ending inventory is 32,000 units. If budgeted production is 100,000 units, what is the forecasted sales revenue from the product?
Wilson's Meats has computed its fixed costs to be $.60 for every pound of meat it can sell given an average daily sales level of 500 pounds. It charges $3.89 per pound of top-grade ground beef. The variable cost per pound is $2.99. What is the con..
Sand Soap Company management is analyzing the company's standard cost variances for direct materials for the most recent period. The following information was available from company records.
Aligning the Balanced Scorecard to Strategy
Which of the following is correct about the treatment of preacquisition earnings on consolidated financial statements?
sedgwick company at december 31 has cash 20000 noncash assets 100000 liabilities 55000 and the following capital
From the case study, assess the major problems Sirius and XM radio faced during the acquisition of XM by Sirius as compared to the average acquisition during this period. Describe the key benefits of the acquisition to Sirius and XM.
Lana Powell has cumulative earnings of $106,700 at the end of September. In the 1st week in October she earns $2,000. The amount deducted for Social Security and Medicare from her check is: (Assume Social Security rate of 6.2% on $106,800 and Medi..
Mitchell's usual billing rate is $700 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's Paid-in capital - excess of par increase for this transaction?
Logan Appliances purchased $8,000 of merchandise, 2/10, n/30, FOB shipping point. The seller prepaid the shipping charges of $200. If Logan pays for this merchandise within the discount period, how much should Logan remit to the seller?
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