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On January 1.2018, Brazilia Company purchased for P4,800,000 a machine with a useful life ten years and a residual value of P200,00. The machine was depreciated by the double declining balance. The entity changed to the straight line method on January 1,2020. The residual value did not change.
Problem 1: What is the accumulated depreciation on December 31,2020?
What type of inventory is used by this company? Examples include First in First out, Last in First out, or average cost
Samson Inc. purchased equipment for $62,000 cash, Use the indirect method to prepare a cash flow statement in good form for 2016
For tax purposes, the entire initial investment will be depreciated by MACRS over 5 years. What is the net present value and IRR of the investment
Using the Computer to Discover Intentional Financial Misstatements in Transactions and Account Balances. AMI International is a large office products company.
a. Calculate the day's purchases outstanding for March, April, May, and June using quarterly purchases to calculate the average daily purchases. b. What is your conclusion regarding the firm's payment behavior?
King Co. requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $76,000. Purchases since January 1 were $144,000; freight-in, $6,800; purchase returns and allowances, $4,800.
Assume the van was sold on January 1, 2020, for $21,000. Determine the amount of gain or loss that would be recognized on the asset disposal
Credits to customer accounts and credits to Other Accounts are individually posted. Why not put both types of credits in the same column and save journal space?
Variable costs as a percentage of sales for Leamon Inc. are 75%, current sales are $600,000, and fixed costs are $110,000. How much will operating income change if sales increase by $40,000?
The Accrued Expenses Payable balance on July 1 is $28,000. Prepare a schedule of cash payments for operations for July, August, and September
Comment on any differences among the companies' gross pro?t to sales ratios and net income as a percentage of sales. Do differences in the companies' business.
The financial statements for your company are usually posted in Item 8 of the SEC 10-K document. Search for the auditor's report
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