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Sandblasting equipment acquired at a cost of $64,000 has an estimated residual value of $4,000 and an estimated useful life of eight years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. a. Determine the depreciation for the current fiscal year and for the following fiscal year by straight-line method. Depreciation Year 1 ? $ Year 2 ? $ b. Determine the depreciation for the current fiscal year and the following fiscal year by the double-declining-balance method. Depreciation Year 1 ? $ Year 2 ? $
janice morgan age 32 is single and has no dependents. she is a freelance writer. in january 2011 janice opened her
All parties use the calendar year for tax purposes. On June 30, 2011, Robin repays the loans of $40,000 together with the specified interest of $4,000. How much of the interest can Robin Corporation deduct in 2010?
nbspan application question which is about capital markets research in accounting.marcus padley a stockbroker made the
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steve and heather decided to form a partnership on april 1. steve invested 60000 and heather invested 40000net income
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a company has 1600 shares of 50 par value 7.5 cumulative and nonparticipating preferred stock and 16000 shares of 10
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on july 1 of the current year the assets and liabilities of wong industries are as follows cash 15000 accounts
duluth company is preparing its cash budget for december. the following information is available concerning its
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