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Brady Service Center just purchased an automobile hoist for $31,310. The hoist has an 8-year life and an estimated salvage value of $3,780. Installation costs and freight charges were $3,870 and $800, respectively. Brady uses straight-line depreciation. The new hoist will be used to replace mufflers and tires on automobiles. Brady estimates that the new hoist will enable his mechanics to replace 6 extra mufflers per week. Each muffler sells for $73 installed. The cost of a muffler is $37, and the labor cost to install a muffler is $16.
Compute the annual rate of return for the new hoist.
At the end of the year, Marianne's share of partnership liabilities decreased by $30,000. Assuming loss limitation rules do not apply, Marianne's basis in the partnership interest at the end of the year is:
wilson owned equipment with an estimated life of 10 years when it was acquired for an original cost of 80000. the
in the month of june jose heberts beauty salon gave 4000 haircuts shampoos and permanents at an average price of 30.
A machine cost $80,000, has annual depreciation expense of $16,000, and has accumulated depreciation of 40,000 on December 31. On April 1,2011 when the machine was fair value of 32,000, it is exchanged for a similar machine with a fair value of 96..
what is the difference between the cash basis of accounting and the accrual basis of accounting? which one would you
1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entry to record the award on January 1, 2009.
What is meant by verification and how it is different from vouching? What is the importance of verification in audit? Explain the methods to verify the various types of tangible and intangible assets.
Strawberry Company uses a weighted-average process-costing system. Company records disclosed that the firm completed 40,000 units during the month and had 10,000units in process at month-end,20% complete.
a company currently pays a dividend of 3.25 per share d0 3.25. it is estimated that the companys dividend will grow at
Denise's estate received the interest and dividends on the payment dates. What should be included in Denise's gross estate?
Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead.
Work-in-process inventory was $12,000 at January 1 and $15,500at December 31. Compute cost of goods manufactured.
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