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Accumulated depreciation-equipment at 1/1/10 was $230,000. At 12/31/10 the balance of the account was $380,000. During 2010, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 3/4 depreciated when sold. Journal Entry.
verkamp corporation has two divisions the ydi division and the qcc division. the corporations net operating income is
At the beginning of 2008, a decision was made to change to the straight-line method of depreciation for the machinery. The depreciation expense to be recorded for the machinery in 2008 is (round to the nearest dollar)
1. Mary owns a drapery business and in 2014 sold three sewing machines for $6000. She purchased the machine for $5000 in 2012 and claimed depreciation of $3000. What are the amount and the correct nature of Mary's gain?
company manufactures plastic storage crates and has the following information available for the month of aprilwork in
firm a and b make up a cartel that monopolizes the market for a scarce natural resource. the firms marginal costs are
a company completed its income statement and balance sheet for the year and provided the following information income
sam and sue are married and age 65. sam has a full time job that pays 80000 and sues full time job pays 85000. they
lindon company uses 4500 units of part x each year as a component in the assembly of one of its products. the company
tropical tours reported revenue of 414000 for its year ended december 31 2013. accounts receivable at december 31 2012
What is the FASB Accounting Standards Codification (FASB ASC)? What is the purpose of FASB ASC? How do you think it can be used to make better accounting decisions? Do these standards apply to fund accounting (non profit)?
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?
under a contract with the provincial government chemlabs inc. analyzes the chemical and bacterial composition of well
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