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On January 1, 2009, Boston Company purchased a heavy duty machine having an invoice price of $13,000; Boston paid transportation and installation costs totaling $3,000. The machine is estimated to have a 4-year useful life and a $1,000 residual value. Calculate depreciation expense and book value for 2009 - 2012, assuming 150% declining-balance method of depreciation.
What is its new target variable cost per skier / snowboarder? Compare this to the current variable cost per skier / snowboarder. Comment on your results.
Don pays Cardinal Construction Corporation $2.8 million to do the work. Don also pays an architect $400,000 to draw up plans for the project. Because the rewiring requirements are so extensive, Cardinal pays Dove Electric Company $500,000 to handl..
Display Labs Inc recently began production of a new product, flat panel displays, which required the investment of $1,800,000 in assets.
Judy's Cars, Inc. sells collectible automobiles to consumers. Judy employs the specific identification inventory valuation method.
Determine the predetermined overhead rate. Compute the total cost of the two ending inventories. Compute cost of goods sold for the year (assume no beginning inventories and no underapplied or overapplied overhead).
Using the returns for the Bledsoe Large-Cap Stock Fund and the Bledsoe Bond Fund, graph the opportunity set if feasible portfolios.
Compute the day’s sales uncollected for both companies as of the end of current period. Which company is doing a better job in managing the collection of its receivables?
On April 1, 2004, Norcross Corporation purchased a new machine for $550,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $25,000.
Show the journal entries in 2006. (Please be reminded the year-end for ABC Corporate is Dec 31, adjusting is required)
General Products Company bought Special Products Division in 2010 and appropriately recorded 500,000 of goodwill related to the purchase.
Fiduciary funds are accounted for differently than permanent funds, even though both may account for nonexpendable resources.
Fairfax Company had a balance in Deferred Tax Liability of $840 on December 31, 2014, resulting from depreciation timing differences. Make the income tax journal entry for the Fairfax Company for December 31, 2014.
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