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A machine cost $500,000 on April 1, 2010. Its estimated salvage value is $50,000 and its expected life is eight years.
Calculate the depreciation expense (to the nearest dollar) by each of the following methods, showing the figures used.
a) straight-line for 2010
b) Double-declining balance for 2011
c) Sum-of-the-year's-digits for 2011
Compute the amount of call center support costs allocated to each product line under the current system.
Vases take an average of 15 minutes to manufacture, and the machine that produces the vases has an annual capacity to run 4,000 hours. What is the average wait time for production?
During 2013, Rachel Parkins, president of Mathieson Company, was paid a semimonthly salary of $6,800. Compute the amount of FICA taxes that should be withheld from her:
Angela Moss and Autumn Barber organize a partnership on January 1. Moss's intial net investment is 75,000 consisting of cash 17,500, equipment 82,500 and note payable reflecting a bank loan for a new business 25,000. Barber's initial investment is..
Catalina works for a regional sales branch of a large pharmaceutical company. Individual employees as well as individual goals, he or she receives a large bonus check at the end of the year.
Kinney Company purchased a truck for $57,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,000 at the end of that time. During the second year the truck was driven 27,000 miles. Compute..
The records of Mandy's Boutique report the following data for the month of April.
John Roberts is 55 years old and has been asked to accept early retirement from his company. The company has offered John three alternative compensation packages to induce John to retire:
How much overhead from the labeling process will be allocated to this particular variety of wine?
How a long-term asset is depreciated can have a rather sharp result, especially for capital-intensive companies. As a result, should property be assigned a life and basis based on its economic value or on its physical life expectancy?
Patrice sells a parcel of land for $50,000 cash and the buyer assumes Patrice's liability of $7,000 on the land. Patrice's basis in the land is $40,000. What is the gain or loss she will recognize on the sale?
Griffith Delivery Service purchased a delivery truck for $33,600. The truck has an estimated useful life of six years and no salvage value. For the purpose financial statements, Griffith is planning to use straight-line depreciation.
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