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A machine costing $210,000 with a four-year life and an estimated $16,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 485,000 units of product during its life. It actually produces the following units: year 1, 121,700; year 2, 123,800; year 3, 121,000; and year 4, 118,500.Required:
Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places.)
Typically U.S. corporations record and report most changes in accounting principle retrospectively, but sometimes report the changes prospectively. Explain when it is appropriate to report the changes prospectively. Provide examples.
bronzeville products wants an airplane for use by its corporate staff. the airplane that the company wishes to acquire
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management is considering purchasing an asset for 31000 that would have a useful life of 4 years and no salvage value.
the following transactions apply to x companysold merchandise for cash2119paid wages3377purchased new equipment for
How should Wesley determine the amount of compensation expense related to the compensatory stock options, if any, that should be recognized in its income statements for 2003, 2004, and 2005? Why?
A vacant lot acquired for $200,000, on which there is a balance owed of $120,000, is sold for $300,000 in cash. The seller pays the $120,000 owed. What is the effect of these transactions on the total amount of the seller's (1) assets, (2) liabili..
Lester's Home Healthcare Services (LHHS) wasorganized on January 1, 2005, by four friends. How would set up the Assets,Liabilities and stockholders equity.
igloo inc. owns 30 of jack co. and applies the equity method. during the current year igloo bought inventory costing
john fillmores lifelong dream is to own his own fishing boat to use in his retirement. john has recently come into an
If $380,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the common stockholders?
a company wishes to buy new equipment for 35000. the equipment is expected to generate an additional 9600 in cash
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