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Rayya Co. purchases and installs a machine on January 1, 2013, at a total cost of $105,000. Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is disposed of on July 1, 2017, during its fifth year of service. Record the depreciation expense as of July 1, 2017? Record the sale of the machinery for $45,500 cash. Record the total destruction of the machine in a fire with $25,000 cash insurance settlement
how can a poorly controlled budget cause problesm for a business?
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the Pay Yourself First s
Relationship among variances We cannot over emphasize the central aim of variance analysis as outlined in the above paragraphs: that is to assign responsibility for a particu
worked examples of marginal and absorption cost
This time of year we all here about football. For me it is the bad news of how poorly the Buffalo Bills are performing. Hopefully your favorite team is doing well. One thing we
concepts of accounting
What are 'potential' ordinary shares? In your answer provide three examples to support your explanation. Briefly outline the process (steps) to determine whether 'potential' ordi
A product is manufactured by passing through three processes: A, B and C. In process C a by-product is also produced which is then transferred to process D where it is completed. F
A 1- year Canadian bond with a face value of 5000 can be purchased at 4800. a) Calculate the nominal interest rate in Canada. b) if the Canadian dollar is expected to depreci
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