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On October 1, 2013, the Allegheny Corporation purchased machinery for $157,000. The estimated service life of the machinery is 10 years and the estimated residual value is $3,000. The machine is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2013 and 2014 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. (Do not round intermediate calculations.)
1. straight line
2. sum of years' digits
3. double declining balance
4. One hundred fifty percent declining balance
5. Units of production (units produced in 2013, 14,000; units produced in 2014, 29,000)
Each partner had a beginning capital balance of $120,000. Any remaining net income or net loss is shared equally. What is balance of Miles' Capital account at the end of the year after net income has been distributed?
What was the amount of retained earnings at the beginning of the year?
Using the general ledger accounts and balances below please prepare a Stockholder Equity section of the balance sheet. Include all details such as number of shares authorized, issued and outstanding as well as par values.
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hinrich entertainment distributes a dvd which sell for 12 per unit. hinrich pays 7 per unit to buy product. selling
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1.nbsprecognition of concepts. jim armstrong operates a small company that books enter tainers for theaters parties
What other potential sources of financing are available to the company and what is the max amount of additional financing that can be in the form of bank borrowings.
it is the end of a reporting period. because there are more people than usual retiring this year your manager has asked
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