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A company purchased a machine for $75,000 that was expected to last 6 years and to have a salvage value of $6,000. At the beginning of the machine's fourth year the company decided that the machine's estimated useful life should be revised to a total of 10 years instead of 6 years. Also, the salvage value was re-estimated to be $5,500. Straight-line depreciation was used throughout the machine's life. Calculate the depreciation expense for the fourth year of the machine's useful life.
Assuming that Castro uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method. Illustrate at what amount would the purchase on February 1 be recorded if the net method were use..
Should the company continue to manufacture the part, or should it buy the part from the outside supplier? Support your answer with analyses.
the amount of income taxes paid would be $300 greater if the average cost assumption were used, what would be the amount of income before taxes under the average cost assumption?
Give Sapling's entries reflecting the purchase of the wood chipper and give Fir's entries reflecting the sale of the wood chipper.
Decision on lease or buying the home - Which is the preferred alternative after one year? (Interest payments over the first year would equal $17,852.)
Given Garden House's current costs, will its owners be able to achieve their target profit? Evaluate the per unit variable cost for Garden House to achieve its target profit?
Explain to Wendy at least 4 key controls she must establish to protect herself against fraud. You should state specific internal control principles and relate your answer to her hair salon business.
Budgeted cash receipts for April, Calculation of budgeted cash collections and Budgeted purchases of raw materials sales for May
Evaluate each of the following ratios using the "unadjusted" data as provided in column "F". For additional practice, recompute the ratios using the data you generate for the other columns.
evaluated that the total estimated life should be 10 years with a salvage value of $5,490 at end of that time. Consider straight-line depreciation.
Preparation of income statement using absorption and marginal costing - Evaluate the unit product cost using absorption costing and Rework the income statement using absorption costing
Determine the balance in the investment account after the shares had been sold What was the reported balance of Wells Investment in Wilson Co. at December 31, 2011?
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