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1. In January 2010, installation costs of $6,000 on new machinery were charged to Repair Expense. Other costs of this machinery of $30,000 were correctly recorded and have been depreciated using the straight-line method with an estimated life of 10 years and no salvage value. At December 31, 2011, it is decided that the machinery has a remaining useful life of 20 years, starting with January 1, 2011. What entry(ies) should be made in 2011 to correctly record transactions related to machinery, assuming the machinery has no salvage value? The books have not been closed for 2011 and depreciation expense has not yet been recorded for 2011.
Determine the present value of the lease payments at June 30, 2009 (to the nearest $000) that Blue uses to record the leased asset and lease liability.
alameda service center just purchased an automobile hoist for 14160. the hoist has a 6-year life and an estimated
What does it mean when information flows down, across, and up the organization?
during the first week in November, Erin Mills worked 451/2 hours and produced 1,275 units under a piece-rate system. The regular piece rate is $0.35 a unit.
Compute the debt to assets ratio to measure the level of financial risk of both companies. Compare the two ratios computed in Requirement a to identify which company has the higher level of financial risk.
Evaluate the volume of the solid bounded by the surfaces. (x2+y2)(1/2) = 4+z2. (x2+y2)(1/2) = 2z2.
Conduct research to determine the impact of the Sarbanes-Oxley Act (SOX), Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and the International Financial Reporting Standards (IFRS) on the accounting p..
Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?
Given the probability of the required contingency payment and utilizing a 4% discount rate, the expected present value of the contingency is $5. Compute consolidated buildings at date of acquisition
The following disclosure note appeared in the July 2, 2011 quarterly financial statement of the Intel Corporation.Note 7: Available for Sale Investments (partial)Table 1: Available for sale investments as of July 2, 2011, and December 25, 2010, were ..
Budgets are the driving force behind all organizations. Whether a manufacturing organization, or a service organization such as a medical or public accounting firm
on jan 1 a company authorized common stock 5 par for 200000 shares amp preferred stock 10 par 7 for 50000 shares.
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