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The total cost of a fleet of lorries is $ 180,00 and the residual value after five years is $20,00. Using the diminishing balance method find the rate of annual depreciation?
The prepaid insurance involves a 3-year fire insurancepolicy that was purchased (and went into effect) on January 1,2007. By the end of the year, apportion of the insurance policy had been used up.
A business purchases $ 40,000 merchandise on credit terms 2/10, n 30 on June 6, 2009. If it pays for the merchandise on June 15, 2009 what is the journal entry required to record the payment.
The income statement for August indicates net income of $50,000. The corporation also paid $10,000 in dividends during the same period. If there was no beginning balance in stockholders? equity, wh
Each involves an adjustment that must be made to the accounting system before financial statements can be prepared. Show the effects of each adjusting entry on the accounting system.
A company has 60,000 shares of common stock issued and outstanding on January 1, 2014. On April 1, the company issues an additional 10,000 shares. On Oct 1 the company repurchases 20,000 shares as
Random Enterprises signed a discounted note on Jan 1, 2010 promising to pay the lender $10 million in 2 years, and will not make periodic interest payments.
How much of this amount will be interest? If you decidet pay off the loan at the end of the first year, how much will youowe the dealer?
Which of the following activities results in a cash outflow?
Prepare anamortization table of the loan. What will bethe amount of interest expense reported by Brookstone Farm for theloan in 2007 and in 2008?
Calculate the book value of the equipment at December 31, 2011. Do not use decimals in your answer.
The Bryan company issued $500000 of 10% face value bond on January1,2010 for$486,000.The bond are due Dec 31,2012, and pay interest semiannually on june 30, and Dec 31.the company use the straight l
On April 30,2010, Hackman corporation issued $1 million face value 12% bond dated january1,2010, for $1023,000 plus accrued interest. the bond pay interest semiannually on june 30,and Dec 31, and ar
Hal requires a return of 8% on eachof these investments. Provide information to help Haldecide how much he should pay for each of these investments.
Calculate the number of units the equipment was used to produce in 2005.
The kurten corporation is authorized to issue $500000 0f 8% bonds interest on the bond payable semiannually ;the bond are dated january 1,2010 and are due december 31,2015
Calculate the loss recorded on the sale assuming ABC Company was using the straight-line method to depreciate the equipment.
Assume Starla wants to accumulate $100,000by her retirement date. Will she achieve her goal if she invests $44,000 today and earns 7%?
Under the cash basis of income determination, how much should Dart report as Revenue for 2008?
In recording the purchase, Henner Corporation recorded Machine A at acost of $50,400. Calculate the cost assigned to Machine B. Do not use decimals in your answer.
What is the incremental cost associated with producing an extra 50,000 jars of salsa. What is the incremental cost associated with the price reduction of $0.30 per jar?
Allowance for Doubtful Accounts has an unadjusted balance of $1,100 at the end of the year, and an analysis of customer's accounts indicates doubtful accounts of $12,900. Which of the following reco
The following information is available for the pension plan of Brady Company for the year 2010.
On December 31, 2008, a physical count of office supplies revealed that there was $700 worth on hand. As a result of this information, the bookkeeper will have to