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Your department's account software is extremely outdated and you have included the purchase of new software int his year's fiscal budget. You have decided it is time to start looking into purchasing your company's accounting software have chosen someone in your department to undertake the task. You want to draft a memo for your employee to help guide him/her in the purchasing process.
Prepare a 350-word memo discussing the factors to consider when choosing accounting software. Analyze why each factor is important and the risks of not considering each factor.
The camera cost $9,000 and is expected to last four years. Assume that the camera has a salvage value of 900. Calculate Fairfolk's 2008 depreciation expense relating to the camera, using the double-declining balance method.
Prepare the journal entry to record Fogelberg's transaction, under the following conditions. (Round answers to 0 decimal places, e.g. $38,487. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit ac..
The governing body of the Order decided that it was no longer feasible to operate the convent, which had been built about sixty years ago, so it was advertised locally for sale.
Over the last two years, Ed had spent nearly $600,000 in attorney fees. Ed had even offered his brother-in-law 50% of the winnings. How and where would you deduct the attorney fees?
Fairfax Company had a balance in Deferred Tax Liability of $840 on December 31, 2014, resulting from depreciation timing differences. Make the income tax journal entry for the Fairfax Company for December 31, 2014.
Alan, who is a security officer, is shot while on the job. As a result, Alan suffers from a leg injury and must spend most of his time in a wheelchair until his recovery. Alan's physician recommends that he install a whirlpool bath in his home for..
Prepare a schedule showing the annual depreciation and end of year accumulated depreciation for the first three years of the asset's life under the straight-line method.
At the beginning of 2009, Baldwin Corporation bought an automobile for $36,000 by issuing a note payable. The automobile has a six-year life and is depreciated using the straight-line method. To determine net cash flow from operating activities fo..
The November 1 work-in-process inventory consisted of 8,000 units, 50% complete with respect to conversion costs. A total of 25,000 units were completed and transferred out of the department during the month. What was the number of units started d..
Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
Calculate the NPV, and the Profitability Index (PI) for this project. Should this project be undertaken?
Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.0% of sales. Prepare the December 31 year-end ad..
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