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Plastic Works Corporation bought a machine at the beginning of the year at a cost of $12,000. The estimated useful life was five years, and the residual value was $2,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was: year 1, 3,000 units; year 2, 3,000 units; year 3, 2,000 units; year 4, 1,000 units; and year 5, 1,000 units.
(b)Units-of-production:
Income Statement
Balance Sheet
Depreciation Expense
(c)Double-declining-balance
Imagine you are President of a company (the company is your choice). Tell us about the product you are selling and which of the four pricing strategies you would use to determine your selling price?
Prepare a statement of changes in equity for 2012. Additionally, describe what presentation differences there might be in the statement of stockholders' equity if McEquityCorporation reported using US GAAP.
Company has been approached by two potential customers to manufacture specific products for them on an ongoing basis. Details of the estimated manufacturing costs and proposed selling prices
Prepare a trial balance as of December 31, 2012. (As you compute the amounts to include in the trial balance, don't forget the beginning balances left over from 2011.)
q1. proposals o and k each cost 500000 have 6-year lives and have predictable total cash flows of 720000. proposal o is
Identify the main issues in the chosen area and accurately respond to each of the questions from the chosen area.
Payment of a trade account payable of $64,500 would - Have no effect on the current and acid-test ratios.
prepare entries to record the following transactionsa a 5000 cash investment made by the owner of a business.b 1700 in
Calculate amount of realized gross profit on installment sales and deferred gross profit to be reported in the year end financial statements of Locken Corporation for the three years noted.
You represent Michael, who asks whether he must report gain on the transfer. Prepare a letter to Michael and a memorandum for the tax files documenting your response.
Prepare a monthly flexible manufacturing overhead budget for 2010 for the expected range of activity, using increments of 1,000 direct labor hours.
Find these financial statements on their website and you have a complex task so start by reviewing both the Balance Sheet and Income Statement for the past 2 years as well as reading the Annual Report notes for these reports.
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