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Mega purchases five machines for $66,000, not including sales tax of $1,500. The cost to transport the machines across the country is $6,300. In preparing the machines for use, Mega incurs labor cost of $2,000 and materials of $1,700. The cost of electricity and maintenance in the first year is $11,000. What is the total cost of the machine for purposes of calculating depreciation?
a. $88,500
b. $77,500
c. $67,500
d. $66,000
inspecting documentation of the reconciliation or by re-performing the reconciliation
Compute the amount of funds Ms. Sudsberry needs to borrow for June. - Determine the amount of interest expense the restaurant will report on the June pro forma income statement.
He begins his final year with $600 in his checking account. Simulate the entire year (12 months) and discuss Maruggi's financial picture.
What do you understand by an economic entity Give relevant examples - list FOUR important roles of an accountant within an economic entity.
Prepare bank reconciliation for Unique Globe Inc. as of May 31, 2011. Prepare the entries in journal form necessary to adjust the accounts. What amount of cash should appear on Unique Globes balance sheet as of May 31st?
For the Revenue, Expenditure, and Human Resources / Payroll cycles, identify at least three specific ways (tools) that information technology can be used to improve each of these processes, and identify & describe an internal control method that is n..
Supplies costing $800 were used to repair a police car, and the Motor Vehicle Repair Fund billed to the General Fund at a markup of 20 percent on cost.
Money from these accounts could be mixed or further divided and sent to other accounts or individuals, who, in turn, would do the same, until several checks for $1000 or less eventually arrive at party headquarters.
(Learning Objective 2: Apply the revenue and expense recognition principles) Identify the accounting concept or principle that gives the most direction on how to account for each of the following situations: Salary expense of $38,000 is accrued at th..
Using the data in Exercise 9-15, assume that during the second year of operations Mack’s Plumbing Supply Co. had sales of $4,100,000, wrote off $34,000 of accounts as uncollectible using the direct write-off method, and reported net income of $600,00..
Cindy maintains an office in her home that comprises 16% (210 square feet) of total floor space. Gross income for her business is $50,900, and her residence expenses are as follows: What is Cindy’s office in the home deduction based on: The regular m..
Calculate the present value of the note receivable suing a 15 % interest rate
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