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Clary Jensen Farms purchased power equipment with an expecteduseful life of four years or 1,000 hours of usage. The equipmentwas purchased on January 1, 2007, for $ 125,000. It is expected tohave a salvage value of $ 5,000 at the end of four years. During2007, the equipment was used for 260 hours. Assume that usage forthe next three years will be 220 hours, 313 hours, and 207 hours,respectively.
1. Prepare a depreciation schedule for the asset showing the bookvalue and depreciation expense on the asset each year using thestraight- line, double- declining- balance, and units- of-production methods.
2. Which method would you prefer to use for financial reporting purposes if you were general manager of the company? Which method would you prefer to use for tax purposes? Explain.
3.Which method has the greatest effect on cash flow each year?Why?
A Company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September 30 inventory is $25,000. If the December 31 inventory is targeted at $7,500, budgeted purchases for the fourth quarter..
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activity-based costing is just another inventory valuation method. it isnt relevant for making operating decisions. do
corrosion chemical co. produces several chemical compounds. each compound can be sold at the split-off point or
What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method? Do you prefer ABC over traditional costing methods?
Webster Training Service (WTS) provides instruction on the use of computer software for the employess of its corporate clients. It offers courses In the client's offices on the client's equipment.
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