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a. Warren company plans to depreciate a new buildingusing declinign balance depreciation with 200 percent accelerationrate. the building cost $800,000. the estimated residual value ofthe building is $50,000 and it has an expected useful life of 25years. assuming the first year depreciation expense was recordedproperly what would be the amount of depreciation expense for thesecond year?
b. Pyle company purchased an asset that cost $50,000( noresidual value esimated useful life 8 years, straight linedepreciation used). an error was made because the total cost amontwas debited to an expense account for 2009 and no depreciation onit was recorded. pretax income for 2009 was $42,000. the correctpretax should be?
c. boone industries pruchased a truck for $35000 onjan.1,2009. the truck had an estimated useful life of 80000 milesand estimated residual value of $8000. in the 3rd year ofownership(2010), the car was driven 25000 miles. using units of production method the amt of depreciation expense for 2010is?
Hillary Company purchased a new machine on September 1, 2007, ata cost of $96,000. The company estimated that the machine has asalvage value of $6,000. The machine is expected to be used for 70,000 working hours during its 8-year life.
Apr.17 Purchased 20,000 shares of Company W common stock for $395,000 plus a brokerage fee of $3,500. The shares represent a 30% ownership in Company W.
The articles of partnership for A-B partnership provide for a salary allowance of $5,000 per month for partner B, with the balance of net income to be divided equally.
norr and caylor established a partnership on january 1 2013. norr invested cash of 100000 and caylor invested 30000 in
pauls medical equipment company manufactures hospital beds. its most popular model deluxe sells for 5000. it has
Determine (a) the price variance, quantity variance, and total direct materials cost variance; (b) the rate variance, time variance, and total direct labor cost variance; and (c) variable factory overhead controllable variance, the fixed factory o..
Randiddle Co. is a merchandising business.
park co. uses the equity method to account for its january 1 2011purchase of tun inc.s common stock. on january 12011
victorias apparel has forecast credit sales for the fourth quarter of the year asseptember actual . . . . . . .
The accountant for the Orion Sales Company is preparing the income statement for 2007 and the balance sheet at December 31, 2007. Orion uses the periodic inventory system. The January 1, 2007 merchandise inventory balance will appear:
carter development company purchased for cash a large tract of land that was immediately platted and deeded?carter
you want to borrow 1000 from a friend for one year and you propose to pay her 1120 at the end of the year. she agrees
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