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The Lansing Community College registrar's office is considering replacing some Canon copiers with faster copiers purchased from Kodak.The office's 4 Canon machines are expected to last 5 more years. They can each be sold immediately for $1,300; their resale value in 5 years will be zero. The total cost of the new Kodak equipment will be $111,000; the equipment will have a life of 5 years and a total disposal value at that time of $2,100.The 4 Canon operators are paid $7.60 an hour each. They work a 40-hour week and 51 weeks a year. The machines break down periodically, resulting in annual repair costs of $1,200 for each machine. Supplies cost $1,080 a year for each machine.The Kodak system will require only 2 regular operators to do the same work. Kodak has offered the college a maintenance contract that covers all machine breakdowns; the cost of the contract is $720 per year. Total cost for all supplies will be $3,240 per year
During the current year, Garrison Construction trades an old crane that has a book value of $80,000 (original cost $140,000 less accumulated depreciation $60,000) for a new crane from Keillor Manufacturing Co. the new crane cost Keillor $165,000 t..
Barkley Company uses a periodic inventory system and has the following account balances: Beginning Inventory $50,000, Ending Inventory $70,000, Freight-in $12,000, Purchases $450,000, Purchase Returns and Allowances $8,000, and Purchase Discounts ..
petrenko corporation has outstanding 2240 1000 bonds each convertible into 50 shares of 14 par value common stock. the
Prepare stores ledger account using the simple average method and weighted average method.
Intercompany Sales Elimination Entries With and Without Intercompany Profit"
Corporation has $10 par value common stock with 1000000 shares authorized, and a value of 7000000 before purchasing 3000 shares of common stock. the resulting number of common shares issued and outstanding is?
Prepare the adjusting entry to allocate any over-or underapplied overhead to Cost of Goods Sold.
domestic production activities deduction anniken cassi operating as a sole proprietor manufactures digital cameras in
Bonds payable has a balance of $1,000,000 and premium balance of $7,000. IF the issuing corporation redeems the bonds at 101. what is the amount of gain or loss on redemption?
baxtra inc. pays 20000 in cash as interest to its lenders during 2005. according to u.s. gaap in which section of the
O. Guillen (beginning capital, $69,000) and K.Williams (beginning capital ($82,000) are partners. During 2008, the partnership earned net income of $71,400, and Guillen made drawings of $18,700 while Williams made drawings of $32,200.
jacob kemp was torn between conflicting emotions. on the one hand things were going so well. he had just completed six
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