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At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. Depreciation for 2011 and 2012 was calculated using the straight-line method, a 25-year useful life, and a $1 million residual value. In 2013, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively. Assume that 2011 depreciation was incorrectly recorded as $32,000. This error was discovered in 2013.
What is depreciation on the building for 2013 assuming no change in estimate of useful life or residual value?
It purchased equipment normally selling for $10,000 at a 20% discount. Based on these facts, what is its gross income for the year?
NiSource Preferred B (NYSE: NI-B) is a fixed-rate perpetual preferred stock paying a $3.88 annual dividend. If the required rate of return is 7.88 percent, what is the value of one share? If the price of this preferred stock were $46.00, what woul..
Determine participation in net income of $37,500 if income is divided (a) in the ratio of capital investments; (b) in the ratio of time worked.
When convertible debt is retired by the issuer, any material difference between the cash acquisition price and the carrying amount of the debt should be
Compute price, and quantity materials variances for Tile Company for March. Indicate amount ($) and favorable (F) or unfavorable (U) effects.
presented below is informatin related to anderson inc. 1balance as per books at 1.31.2013 41847.85 receipts 173523.91
Sam, a single individual with a salary of $40,000, paid the following expenses during the year: Analyze the above expenses and determine which ones are deductible for AGI. Please support your position
What corporations are required to issue a report on the effectiveness of its internal control over financial (ICFR) reporting?
employees earn vacation pay at the rate of one day per month. during july 25 employees qualify for one vacation day
Battle Tank, Inc. had net sales in 2008 of $1,200,000. At December 31, 2008, before adjusting entries, the balances in selected accounts were.
at the beginning of 2013 pitman co. purchased an asset for 900000 with an estimated useful life of 5 years and an
the sarbanes-oxley act requires that all publicly traded companies maintain a system of internal controls. internal
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