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Rita pita company bought a new dough machine at thebeginning of the yar at ta cost of $7600. the estimated useful lifewas four years and the residual value was $800. assume that theestimated productive life of the machines was 10000 hours. actualannual usage was 3500 hours in year 1. 3200 hours in year 2. 2200hours in year 3. 1100 in years 4.
complete a separeate depreciation schedule for each of the alternative methods. u can round your answers to nearsdollar.
a. stright lineb. units of productionc. double delining balance
method:
year computation depreciation expense accumulation expense net book value
2. assuming that the machine was used directly in the production of one of the products that the company manufactures and sells, what factors might managment consider in selecting apreferable depreciation method in conformity with the matching principle?
Which of the following is not considered a measure of liquidity?
Olga's sole proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the sole proprietorship on her individual income tax return (form 1040).
Explain how the use of ratios can help in analyzing the profitability, liquidity, efficiency and capital structure of business.
One of your audit clients has a material investment in a privately-held biosciences company. Your audit firm engaged a business valuation specialist to assist in evaluating the client's estimation of the investment's fair value. You conclude that ..
Describe the revenue or payroll cycle at your organization? What source documentation is used in the revenue and payroll cycles at your organization? - answer 150-200 words.
The amount of the compensation will be less than the fair value of the plant, but more than its book value. How should the contingency be reported in the financial statements of Shinobi Inc.?
Htech Corp. started its operation in 2010 and has a $550,000 net operating loss when the tax rate is 35%. In 2011, the company has $680,000 taxable income and the tax rate is revised to 40% in early 2011.
Robinson Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at ..
Tax depreciation for the year exceeded book depreciation by $50,000. The tax rate for Year 3 was 30%, and Congress enacted a tax rate of 40% for years after Year 3. What is the deferred tax reported on William's December 31, Year 3, balance sheet?
Gold Company was experience financial difficulties, but was not bankrupt or insolvent. The National Bank which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to $85,000.
Do you think this makes sense? How much of the internal control details should the managers know given that they will have to sign documentation attesting to the efficiency of internal controls?
It has also issued long-term bonds at an interest rate of 7 percent. It pays tax at a marginal rate of 35 percent.a. What is Omega's after-tax WACC?
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