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equipment costing $5,000 was sold for $600 and replaced with new equipment costing $6,000. what Canliss would record 2011 depreciation of?
The fair value of the options, estimated by an appropriate option pricing model, is $4 per option. No forfeitures are anticipated. The options are exercised on April 2, 2012, when the market price i
Which of the following results in increasing basic earnings per share?
at the end of the year after recording annual depreciation, and had a fair value of $330,000. After the revaluation, what the accumulated depreciation account will have a balance of ?
Using the car expense rate of 0.50 cents per mile, what is her deductible transportation expense?
From the given sheet with debts/credits titled Balance sheet attempted to work backward and develop T accounts and Trial Balance work sheet to follow the cash activity and don't seem to be able to s
The contribution margin ratio for Q was 30% its sales were $200000 and its segement margin was $21000. If the contribution margin for P was $80000. Calculate the segment margin for P.
During the year, estimated tax payments of $525,000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Reese's December 31, 2010 balance shee
If the preliminary assessment of control risk indicates that the risk may be below the maximum level and that assessment would reduce overall audit time and effort, then the auditor must test those
Considering SAS 109 what kind of information should auditor have gathered during the preliminary stage of this audit in order to answer clins questions about the internal control? What sources are a
The CPA who has audited the financial statements who is asked to report on the summary statements should decline the engagement because the summary statements do not include all disclosures necessar
During the month of July, Jorrey purchased 25,000 board feet of lumber at a cost of $60,000. Production during July used 21,000 board feet of lumber to manufacture 1,950 bookcases. What are the dire
The company issued $ 100,000 of new stock, and its net income for the year was $ 250,000. No other changes to stockholders' equity occurred during the year. Determine the dollar amount of dividends
Based on the standard set by Tish Company, 5,500 direct labor hours should have been used in production this period at a cost of $20 per hour. The actual results indicate that 5,400 hours were used
Frausto pays for 70 percent of its purchases in the month of purchase, taking a 3 percent discount. The remaining purchases are paid in the month following purchase. Frausto indicates that the begin
Determine the amount of the equipment's accumulated depreciation reported in the balance sheet dated December 31, 2011.
On June 30, a company paid $3,600 for insurance premiums for the current year and debited the amount to Prepaid Insurance. At December 31, the bookkeeper forgot to record the amount expired. The omi
Prepare a flexible budget for 9800 machine hours per month.
Oak Bluff Company incorrectly assigns a $50,000 overhead item to selling expense. Borden has more inventory at the end of the year than at the beginning of the year. The result of this error will be
Assume that net income using the weighted-average cost-flow assumption is $58,000. Calculate net income under FIFO and LIFO.
Metals prices have since declined precipitously and the company is considering abandoning the operation. The term that would best describe the $200 million expenditure when considering the abandonme
How would your answer to part a change if Randall originally organized Silver Fox Corporation, capitalizing it with $250,000 of cash and assuming Silver Fox qualifies as a small business corporatio
Williams Company's direct labor cost is 25% of its conversion cost. If the Manufacturing overhead cost for the last period was $45,000 and the direct materials cost was $25,000, what was the direct
how much interest expense will we save over the remainder of the loan?"
In 2011, equipment costing $5,000 was sold for $600 and replaced with new equipment costing $6,000. what Canliss would record 2011 depreciation of?