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On January 1, 2012, a machine was purchased for $197,100. The machine has an estimated salvage value of $13,140 and an estimated useful life of 5 years. The machine can operate for 219,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2012, 43,800 hrs; 2013, 54,750 hrs; 2014, 32,850 hrs; 2015, 65,700 hrs; 2016, 21,900 hrs.
1. Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods.1. Activity Method 2. Sum of the years digits 3. Double declining method
2. Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. 1. straight line method 2. sum of the years digits method 3. double declining method
Goga Ltd is busy building a five-star hotel in the area, they use the percentage of completion method to determine profits and would like to calculate the profit for the year. dra
Generally Accepted Accounting Principles (GAAP) are guidelines for companies to follow as they prepare and issue financial statemnents. Let's start by getting an understanding of
Opportunity Costs Are Relevant Costs Opportunity cost introduces an additional concept that is not available like part of normal cost analysis in the accounting record system.
#question.what is defination.
cite some example on how to to calculate variable cost
ShipShape Company makes 2 different types of boats, commercial fishing and sail boats both for recreation and competition. The company consists of two different departments, design
Chen Enterprises purchased 67,000 pounds (cost = $616,400) of direct material to be used in the manufacture of the company''s only product.
Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits. Prepare a simple balance sheet of assets and liabilit
In January, 2008, Sanford Corporation purchased a patent for a new product for $1,200,000. The patent was valid for fifteen years but it was estimated to have a useful life of ten
Win Corporation sells a single product. Budgeted sales for the year are anticipated to be 609,725 units, estimated beginning inventory is 107,791 units, and desired ending inventor
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