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Millworks Company owns a milling machine that cost $125,00 and has accumulated depreciation of 91,000. Prepare the entry to record the disposal of the milling machine on Janurary 5 under each of the folling undependent situations.1. The machine needed extensive repairs, and it was not worth repairing. Millworks disposed of the machine, receiving nothing in return.
2. Nukkwirjs sikd the machine for 17,500 cash
3. Millworks sold the machine for 34,000 cash
4. Millworks sold the machine for 40,000 cash
prepare an income statement statement of retained earnings and balance sheet. to do so you will need to determine the
aero inc. requires sales of 2000000 to cover its fixed costs of 700000 and to earn net income of 200000. what percent
q full disclosure is desirable for all of the following reasons exceptnbspit helps to prevent the inappropriate use of
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a corporation is evaluating an extra dividend versus an open market share repurchase. in either case 16000 would be
Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the dir..
In years subsequent to the upstream intercompany sale of nondepreciable assets, the necessary consolidated workpaper entry under the cost method is to debit the:
Assume the marina operator is unsophisticated in business. Explain the managerial significance of the accounting above to this person.
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global marine obtained a charter from the state in january 2013 which authorized 1000000 shares of common stock 5 par
What factors are likely to drive a firm's outlays for new capital (such as plant, property, and equipment) and for working capital (such as receivables and inventory)? What ratios would you use to help generate forecasts of these outlays?
During the year the trust makes a mandatory distribution to Julius and Steve of $50,000 each. The distribution deduction is:
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