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1) On January 1, 2013, Williams Company purchased a copy machine. The machine costs $160,000, its estimated useful life is 8 years, and its expected salvage value is $10,000. What is the depreciation expense for 2014 using double-declining-balance method?
Select one:
A. $40,000
B. $30,000
C. $26,250
D. $17,500
2) BTL Company purchased a tractor at a cost of $60,000 on January 1, 2013. The tractor has an estimated salvage value of $10,000 and an estimated life of 8 years. If BTL uses the straight-line method, what is the book value at January 1, 2017?
A. $35,000
B. $25,000
C. $41,250
D. Some other answer
Pablo has a $63,000 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in a proportionate non liquidating distribution, cash of $25,000, cash basis receivables with an inside basis of $0 and a fai..
Given the above information, prepare a statement of cash flows for Doug Corporation for the year 2009 on a separate Excel spreadsheet as directed on the Problem Set 1 directions.
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Tawstir Corporation has 500 obsolete personal computers that are carried in inventory at a total cost of $720,000. If these computers are upgraded at a total cost of $140,000, they can be sold for a total of $200,000. As an alternative, the computers..
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