Accounting Questions – Depreciation About http://www.HelpWithAssignment.com We are a bunch of talented and ambitious people from around the world. Our network spans 3 continents and several countries. This is necessary to service requests from different time zones. www.HelpWithAssignment.com has provided a platform for talented individuals to come together to help individuals do well in their assignments‚ homework‚ thesis‚ term papers and projects while earning a valuable side income. Question-
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production output over this period was: Year 1‚ 35 000 units; Year 2‚ 35 000 units; Year 3‚ 18 000 units; Year 4‚ 12 000 units. The asset cost $ 100 000 and associated installation costs amounted to $20 000 and residual value is $5000. The amount of depreciation charged in the first year is: Selected Answer: c. $42 000 Correct Answer: b. $40 250 Question 5 0 out of 1 points If a sale and leaseback transaction results in a finance lease‚ IAS 17 Leases‚ provides the following accounting treatment
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2003 Total impact stadium on Income Statement 2003 ($ ($ ($ 0.5) 0.125) 0.625) $ 131 $ 130.375 Cash Flows 2003 (stadium‚ year ended December 31‚ Indirect Method‚ millions) To come to total Cash Flows the adjustments are: adjustment depreciation expense adjustment for provision demolition expense adjustment investment land adjustment investment new stadium adjustment disinvestment old stadium $ 0.5 $ 0.125 ($ 12)
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manufacturing space‚ and RIC currently has an option to purchase an existing building‚ at a cost of $10 million‚ which would meet this need. The building would be bought and paid for on December 31‚ 2008‚ and for depreciation purposes‚ it would fall into the MACRS 39- year class. The annual depreciation rate for the five years of economic life of the project would be: Year 1 1.3% Year 2 2.6% Year 3 2.6% Year 4 2.6% Year 5 2.6% d. The necessary equipment would be purchased and installed in late 2008
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Assignment Questions Question 1 Frank Crosby (who has never owned or run a business before) started a lawn mowing business (Crosby’s Cutters) as a temporary job/business which he intended to run until he started his business degree at the University of Woop Woop in Semester 2‚ 2014. To start the business on 1 April 2014‚ he deposited $1‚000 into a new bank account opened in the name of the business. The $1‚000 consisted of a $600 loan from his father and $400 of his own money. Frank rented
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allocation of the asset is shown through the method of depreciation a company uses. The method a company chooses to incorporate should be one that most effectively matches expenses with the revenues produced. The method that most select is that of straight-line depreciation‚ which "spreads the depreciable value evenly over the useful life of an asset." (Horngren‚ Sundem‚ Elliott‚ & Philbrick 2006‚ p.342) Depreciation schedules reflect how much depreciation will be allocated for each year of the assets
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What are the advantages and disadvantages to teamwork? Teamwork‚ some think it’s just plain boring while others think it’s fun and very helpful. Teamwork mostly only has advantages. We can see them and name them. Meanwhile‚ teamwork also has small disadvantages here and there‚ usually hard to see them in our everyday work. Why is it worth working in a team and sometimes not? Would you work in a team and get things done faster and more professional or would you rather work by yourself
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New Economy Transport (A) p. 182The New Economy Transport Company (NETCO) was formed in 1955 to carry cargo and passengers between ports in the Pacific Northwest and Alaska. By 2008 its fleet had grown to four vessels‚ including a small dry-cargo vessel‚ the Vital Spark. The Vital Spark is 25 years old and badly in need of an overhaul. Peter Handy‚ the finance director‚ has just been presented with a proposal that would require the following expenditures: Mr. Handy believes that all
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ACCTNG 3402 – Financial Accounting and Reporting II Assignment due February 13‚ 2013 Spring‚ 2013 Depreciation: Airplanes and Garbage Trucks Your answers to the questions below should be clear‚ well-written‚ free of grammar and spelling errors‚ double-spaced with margins of at least one inch on all sides‚ and word-processed. In preparing this assignment‚ you may discuss the issues with each other or with anyone else‚ but your written answers must be your own work. If you need to quote someone
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make people’s life easier and more convenient. For examples‚ people can talk to people from different countries on the Internet or buy things online. Today‚ many people like shopping online‚ some dislike. Shopping online has both advantages and disadvantages. Shopping online has three main advantages. First‚ shopping online is very convenient. People only use the computer to buy the things they want. They do not need to go out. Second‚ shopping online saves people’s time because they only need to
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