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Airline X depreciates its airplanes over a 15-year period and estimates a salvage value of 10% of the cost of the plane. At the same time, Airline Y depreciates identical airplanes over a 25-year period and estimates a salvage value of 15% of the cost of the plane. As expected, these different assumptions resulted in different operating results. For example, if an airplane costs $ 10 million, Airline X will depreciate $ 260,000 more per year for 15 years than Airline Y.
Which company’s estimate of useful life more closely reflects reality? Will you feel comfortable as a passenger in a 25-year old airplane? Does the fact that Airline Y subsequently went out of business provide any information as to why its estimates were so substantially different from those of financially sound Airline X?
Montoini Company purchases equipment on January 1, year 1, at a cost of $469,000. The asset is expected to have a service life of 12 years and a salvage value of $40,000. Compute amount of depreciation for each of years 1 through 3 using the strai..
multiple choice questions related to basic1. which of the following is true about service providers liens on personal
Jan receives no reimbursement from her employer. Jan has an AGI for year of $50,000 and no other itemized deductions.
Explain why the accounting treatment is different in the general Fund and governmental activities general journals.
A lender requires that monthly mortgage payments be no more than 25% of gross monthly income with a maximum term of 30 years. If you can make only a 15% down payment, what is the minimum monthly income needed to purchase a $300,000 house when the ..
select a company you are interested in and obtain a copy of its most recent annual reportpanera bread. keep this
Darron Co. was formed on January 1, 2009 as a wholly owned foreign subsidiary of a U.S. corporation. Darron’s functional currency was the stickle €. The following transactions events occurred during 2007: What was the amount of the translation ad..
what was the top marginal personal income tax rates in 1980? what is the top rate now? are you in favor of or opposed to the lower marginal rates? why
Westgate uses percentage-of-completion method of accounting for long-term construction contracts evaluate amount of gross profit (loss) to be recognized in each of three years.
This year Freeman Steel Company paid Herb Porter wages of $9900. $2800 were paid in TN and the rest in SC. How do I find the FUTA tax on Porter's earnings if SC is a credit reduction state?
Preparation of Cash Budget and interpreting the cash position of the company
1 competitive auctions on ebay.com. the ebayauctions contains information on 1972 auctions transacted on ebay.com
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