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Acme Corp. bought a machine for $350,000 cash on August 1, 2012. It is expected to last for 10 years with a residual value of $35,000. A new base costing $20,000 was installed at the time of acquisition. Acme Corp's year end is December 31st. Requirement #1 - Using the double declining balance method and fractional year monthly amortization, answer the following questions: What is the Depreciation expense in year 2012: What is the Depreciation expense in year 2013: Requirement #2 - Using the straight line method and half year amortization for the year of acquisition and disposal, answer the following questions: What is the Depreciation expense in year 2012: What is the Depreciation expense in year 2013: Requirement #3 - Using the information from Requirment 2, prepare the journal entry to record the disposition of the asset for $250,000 cash on February 25, 2014.
If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during April or increase the selling or administrative expenses.
1.what are the functional currencies of fords subsidiaries?2.how much and where did ford report the gain or loss on
discuss the similarities and differences between activity based costing and the theory of constraints as well as
1. all urban company produces a product requiring 4 pounds of material costing 3 per pound. during december all urban
How are accounting numbers used to monitor this agency contract between owners and managers? Evaluate management's incentives to choose FIFO. Evaluate management's incentives to choose LIFO.
Determine the variable cost per order shipped - determine the fixed shipping costs per quarter.
What internal controls components are commonly found among the revenue and payroll cycles? What components are unique to each cycle? - Answer 150-200 words.
Retrieve a report in the organization that allocates common costs to a division, product, or service. Recast that report with unallocated costs and comment on the usefulness of that revised report.
An oil and gas investor is considering the acquisition of two fields.
The Audit Committee of the board of Directors is unfamiliar with the professional and ethical standards that govern the conduct of an audit and the issuance of an audit opinion.
Participating up to an additional
"It is impossible to use DCF methods for evaluating investments in research and development. There are no cost savings to measure, and we don't even know what products might come out of our R&D activities."
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