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Question - Carol's Boutique purchased sewing equipment on January 1, 20X5, for $50,000. Its expected useful life is 10 years or 100,000 units of production, and its residual value is $1,000. Using straight-line depreciation, compute the annual depreciation expense for 20X5 and 20X6. Bonus: What would the journal entry look like to record the depreciation expense?
During 2015, Maverick Law Firm had the following transactions with it clientsOn February 1, 2015, the company received cash of $5,800 from clients in payment of their account balances as of December 31, 2014. What is the amount of Law Services Revenu..
to raise operating funds signal aviation sold an airplane on january 1 2013 to a finance company for 1030000. signal
What are the key items that an accountant must understand around present and future value concepts, annuities, and compound interest?
April 11 Completed a tax assignment and billed client $1,100 for services rendered. Journalize the transactions in the general journal
The company CFO has asked you to determine the company's interest expense for the year ended. Calculate interest expense for the year ended December 31, 2016.
Darwin and Thunderbird share office and lab space, equipment, and employees. Because of ethical concerns and the regulatory environment surrounding embryonic stem-cell research, both Darwin and Thunderbird were unsuccessful in gaining significant ..
How can you tell from their actual results if they are planning their cash requirements and investment needs appropriately? Do they borrow and repay?
the cost of the available-for-sale securities was $62,400, and the fair value was $56,900. Prepare the adjusting entry to record the unrealized gain or loss for available-for-sale securities on December 31, 2012.
Apple Snacks manufactures a healthy alternative to potato chips called Garden Straws. Compute the cost allocation rate for each activity
You have been engaged to review the financial statements of Water Sync Inc. In the course of your investigation you find a number of irregularities during the current year.
Fasetech, Inc. has collected the following data. What is the operating income using absorption costing if 500 units are sold
Assuming that interest and discount amortization are recorded each May 31, prepare the adjusting entry to be made on December 31, 2015
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