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On January 1, 2008 Jose Company purchased a building for $200,000 and a delivery truck for $20,000. The following expenses have been incurred during 2010: · The building was painted at a cost of $5,000 · To prevent leaking, new window were installed in the building at a cost of $10,000 · To improve production, a new conveyor system was installed at a cost $40,000. · The delivery truck was repainted with a new company logo at a cost of $1,000 · To allow better handling of large loads, a hydraulic lift system was installed on the truck at a cost of $5,000 · The trucks engine was overhauled at a cost of $4,000 1. Determine which of those costs should be capitalized. Also identify and analyze the effect of the capitalization costs. Assume that all costs were incurred on January 1, 2010 2. Determine the amount of depreciation for the year 2010. The company uses the straight-line method and depreciated the building over 25 years and the truck over 6 years. Assume zero residual value for all assets. 3. How would the assets appear on the balance sheet of December 31, 2010?
in a minimum 200 word response describe some ways how the public has responded to the october 2001 usa patriot act. has
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Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2008, for $562,613.This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1 and January 1. Hrabik uses the effective-inter..
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