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On January 1, 2013, Pastel Colors Corporation purchased drilling equipment for $11,500. The equipment has an estimated useful life of four years and a salvage value of $200. Assuming that Pastel Colors uses the straight-line method of depreciation, if it trades the equipment for new equipment with a list price of $15,500 on December 31, 2014, and pays $4,050 in the exchange, assuming the exchange lacks commercial substance, the new equipment should be recorded at
$15,500.
$11,450.
$9,850.
$9,900.
Interest computed on the weighted-average amount of accumulated expenditures for the building during 2005 was $60,000. Calculate interest cost that Alaska should capitalized?
Calculate the Effective Tax rate, calculate the provision for incomes taxes and prepare the journal entry to record income tax expense.
Employee wages are paid twice a month, on the 22nd for the wages earned from the 1st through the 15th, and on the 7th o fthe following month for wages earned from the 16th through the end of the month. Wages earned from December 16 through December 3..
Jill Parsons purchases for $72,000 Jamar"s interest in the Tholen-Jamar partnership. Assuming that Jamar has a $68,000 capital balance in the partnership, what journal entry is made by the partnership to record this transaction?
Create journal entries for each of these events. Also create any needed entries to accrue interest on the notes at 31st December. 2005.
calculation of product cost and breakeven point.wakefield inc. offers a cpa review course in cities throughout the
How many units were completed and started during May? Units started and completed during May, What were the equivalent units of production for May for conversion costs and materials?
What were the variable selling and administrative expenses for July, what were the fixed selling and administrative expenses for July and what was the cost of goods sold during July
If the partner with the capital deficiency declares bankruptcy and is unable to pay the deficiency, explain how the deficiency would be divided between the partners.
Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations: What is the accounts receivable balance at the end of July? If the cost of raw materials purchas..
If company expects next year's total sales could increase 12%, they want to know ho this change affects their profit. Calculate DOL and then next year's net income in dollar.
The original cost was $2,000. They were billed $2,100 as there was a price increase. Illustrate what accounting entry will they make on June 18?
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