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Question - Kathy's Kitchen bought a van to deliver Kathy's famous pies. The van cost $20,000. Kathy estimates that, with the hard use the van will get, it will be of use for four years. At the end of the four years, it will be sold for parts for $2,000.
Required -
1. Determine the monthly depreciation expense using the straight-line method.
2. Make the journal entry to record depreciation expense for January.
Managerial accounting: a. has its primary emphasis on the future. b. is required by regulatory bodies such as the SEC. c. focuses on the organization as a whole, rather than on the organization's segments. d. Responses a, b, and c are all correct.
The cash account for Bonita Medical Co at September 30, 2008, indicated a balance of $5335.30. Prepare a bank reconciliation
Research how FASB and IFRS treat changes in accounting estimates and errors. What do they have in common? What is different?
What basic procedures should an organization follow in order to fulfill its due diligence
Prepare a direct labour budget for 2012. Wage rates are expected to be $15 for the first 2 quarters and $16 for quarters 3 and 4.
what is the difference between statistical significance and practical significance? why is statistical significance not
prepare a journal entry to record interest on december 31,2012, using the effective interest method.
a newly developed device is being considered by fairway foods for use in processing and canning peaches. the device
West & Co., CPA, completed an audit of Star Manufacturing Company and issued a standard audit report. What does this tell us about the extent of the auditing
during 2012 smithson corp. had the following cash flows receipt from customers 10000 receipt from the bank for
Purchased a 1-year insurance policy on June 1 for $1,800 cash. For each of the above transactions, prepare the journal entry to record the initial transaction
Why are they so called. What type of information is contained in nominal accounts, and what type in real accounts
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