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Three different companies each purchased a machine on January 1, 2008, for $42,000. Each machine was expected to last five years or 200,000 hours. Salvage value was estimated to be $2,000. All three machines were operated for 50,000 hours in 2008, 55,000 hours in 2009, 40,000 hours in 2010, 44,000 hours in 2011, and 31,000 hours in 2012. Each of the three companies earned $30,000 of cash revenue during each of the five years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.Calculate the Retained earnings for the following companies for the year 2011? (Round your answers to nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.)
The factory building was transferred to his son, John, as an inheritance at the time of wade's death and John sells it immediately after inheriting it at a gain of $30,000 based on the original cost. What amount of depreciation needs to be recaptu..
lloyd christmas ltd.s accounting records reflect the following account balances at january 1 2005 equipment 160000
the following account balances relate to the stockholders equity accounts of gore corp. at
please help me figure out the problems below1. on december 2 2013 leggs purchased land and building for 380000 the land
having in mind the companys relationship between receivables and cash the influence of liquidity and solvency and they
A $10,000, 8%, 10-year note payable that pays interest quarterly would be discounted back to its present value by using tables with which one of the following period-interest combinations?
In 1991, Barbara purchased a single life annuity for $250,000 that would pay her $25,000 per year for life beginning in 2002. Barbara's life expectancy from 2002 forward on which the payments were based is 25 years.
Babbel Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year.
gunst company produces three video games android bio-mutant and cyclops. cost and revenue data pertaining to each
A single product in one department and uses a process costing system. At the start of May, there were 10,000 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (..
review the attached business scenario. pay particular attention to the facts of the case which would affect
Budgeting is an important internal activity. Preparing budgets involve forecasting sales and estimating costs. For this SLP, you will prepare a flexible budget for next year for the company of your choice. The budget needs to be realistic and base..
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