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Rottino Company purchased a new machine on October 1, 2014, at a cost of $150,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life.
Compute the depreciation expense under the following methods for the year indicated.
a. Straight-line for 2014
b.Units-of-activity for 2014, assuming machine usage was 1,700 hours.
c. Declining -balance using double the straight-line rate for 2014 and 2015.
on january 1 2012 phil sonics corporation issued 2000000 of 7.5 bonds dated january 1. interest is payable
Hornbeck Company issued 100,000 bonds payable with a 7% interest rate at a price of 97. The journal entry to record the issue of the bond includes what?
evaluating customer reaction of the trade-off of giving up some features of a product for a lower price would best fit
dividends on common and cumulative preferred stock l.o. c2 wades outstanding stock consists of 46000 shares of
Determine the amount of translation adjustment, if any, reported in other comprehensive in-come in each of the three most recent years. Explain the sign (positive or negative) of the trans-lation adjustment in each of the three most recent years.
Assume that COGS is a variable cost and that operating expenses are a fixed cost. What is budgeted operating income for 20X9?
Imagine you are preparing a business's cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response.
Neer's income statement also included $225,000 accrued warranty expense that will be deducted for tax purposes when paid. Neer's enacted tax rates are 30% for 2007 and 2008, and 24% for 2009 and 2010. The depreciation difference and warranty expen..
1.the realization principle indicates that revenue usually should be recorded in the accounting recordsquestion 1
1. A company's 7% coupon rate, semiannual payment, $1,000 par value bond that matures in 30 years sells at a price of $648.62. The company's federal-plus-state tax rate is 30%. What is the firm's after-tax component cost of debt for purposes o..
A us company's foreign subsidiary has as its functional currency the local currency. year- end financial statements are being consolidated. the average rate would be used for which account of the foreign entity?
1. calculate the total bond interest expense over the bonds' life. 2. Prepare a straight-line amortization table like Exhibit 10.11 for the bonds' life. 3. Prepare the journal entries to record the first two interest payments.
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