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The management of an amusement park is considering purchasing a new ride for $60,000 that would have a useful life of 15 years and a salvage value of $8,000. The ride would require annual operating costs of $26,000 throughout its useful life.The company's discount rate is 10%. Management is unsure about how much additional ticket revenue the new ride would generate particularly since customers pay a flat fee when they enter the park that entitles them to unlimited rides. hopefully, the presence of the ride would attract new customers. how much additional revenue would the ride have to generate per year to make it an attractive investments.
A city received supplies that had been previously encumbered. The supplies were encumbered for $5,000 and had an actual cost of $4,900. To recognize this event the county should make which of the following entries?
Machinery was acquired in January for $300,000. Straight-line depreciation over a ten-year life (no salvage value) is used. For tax purposes, accelerated depreciation is used and Orkin may deduct 14% for 2012.
Describe the two major obligations incurred by a company when bonds are issued. Magda and Helga are discussing how the market price of a bond is determined.
On July 1, 2009, Cheryl pays the entire real estate tax of $5,475 for the year ending December 31, 2009. a. How much of the property taxes may Phil deduct?
The framework used to record and summarize the economic activities of a business enterprise is referred to as the accounting equation. State the basic accounting equation and define each of its major components. How are business transactions and f..
What controls should an organization like Tyco implement to ensure that such transactions do not take place in the future?
What is meant by the net realizable value for accounts receivable? What is aging of accounts receivable, and how is it used to account for uncollectible accounts? How is the accounts receivable turnover computed? What information does this ratio prov..
Identify two ways to finance the remaining $20,000 you will need, so you can pay all of the liabilities when they are due.
Prepare the journal entries necessary to record the transactions above using the appropriate dates. Prepare the adjusting entries necessary at Dec. 31, 2007 in order to properly report interest expense related to the above transactions. Assume stra..
Par Four Issues $1,700,000 of 10%, 10-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,505,001.
What factors are likely to drive an organization's outlays for new capital(such as plant, property and equipment) and for working captial( such as receivables and inventory)? what ratios would you use to help generate forecasts of these outlays?
Descriptions of how your organization uses the accounting information for financial management improvement recommendations for you.
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