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Problem 1: Which of the following would most likely use a perpetual inventory system?
A) hardware store
B) shoe store
C) car dealership
D) bookstore
Problem 2: Cola Company purchased a bottling machine on October 1, 2018 for $250,000. The estimated useful life is 25 years and they are using straight-line depreciation. On October 1, 2019, they spent $46,000 on the machine to double its capacity and $5,000 on routine cleaning. The company's year end is September 30. What should the depreciation expense be at September 30, 2020?
A) $10,000
B) $30,000
C) $12,200
D) $11,917
Problem 3: Long-term capital assets with a(n) ___ may not be depreciable.
A) finite life
B) indefinite life
C) residual value
D) undefined value
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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