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Question: A machine with cost of 1.000.000 TL is purchased on january 1 , 2016. Its useful life is 5 years and estimated residual is 20.000 TL.(Double Declining Balence)
Required: a) Calculate this machine's depreciation expenses over 5 years.
b) Journalize the sale transaction when this machine is sold for 300.000 TL after 3 years.
on november 1 2010 wenger co. paid its landlord 25200 in cash as an advance rent payment on its store location. the
Hornblower Cruises Inc. reported the following results for the year ending October 31, 2010:
After reviewing the scenario, discuss at least three (3) pros and three (3) cons for converting personal property to business use, and recommend at least two (2) implementation strategies that would increase the depreciable bases used to calculate..
Following are the preclosing fund trial balances as of December 31, 2013, for Oliver's Place, an NFPO.
Soft Light Company produces speciality lamps and sell them to retail stores. During the lastest year, the company sold 40,000 lamps at an average of $70 per lamp.
Explain the difference between absorption and variable costing income statements and discuss which method has a greater chance of manipulation by management.
Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10 percent, compounded annually.
A person owned 300 shares of MNO common stock, which cost $23,400. MNO then had a 3-for-1 stock split. After the split, the person sold 100 shares for $5,600. How much gain (or loss) resulted from the sale?
spacely sprockets company manufactures a high-tech component that passes through two production processing departments
ACCT2201 GROUP CASE STUDY. Prepare the consolidation worksheet journal entries to eliminate the effects of inter-entity transactions as at 30 June 2017
1.a company has 8200 in net sales 1100 in gross profit 2500 in ending inventory and 2000 in beginning inventory. the
Prepare any necessary adjusting journal entries in Contemporary Designs accounting records as of December 31.
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