Showing 641 to 650 of 5238 Questions
  • Ball-Peen Metal Casting Co. reported $859,600 for equipment and $317,500 for accumulated depreciation—equipment on its balance sheet. Does this mean (a) That the replacement cost of the equipment is $859,600 and (b) That $317,500 is set aside in a special fund for the replacement of the equipment? Explain.

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    114
  • Baltimore Co. considers divesting its six foreign projects as of today. Each project will last one year. Its required rate of return on each project is the same. The cost of operations for each project is denominated in dollars and is the same. Baltimore believes that each project will generate the equivalent of $10 million in one year ba

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    146
  • Bank reconciliation adjustment. Refer to Mini-Exercise 5.1.In Mini-Exercise 5.1, The balance in Happ, Inc.'s general ledger Cash account was $12,430 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $11,130. Reconciling items included deposits in transit, $1,200; bank service charges, $70; NS

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    65
  • Bank reconciliation-compute Cash account balance and bank statement balance before reconciling items. Branson Co. received its bank statement for the month ending May 31, 2013, and reconciled the statement balance to the May 31, 2013, balance in the Cash account. The reconciled balance was determined to be $9,300. The reconciliation recog

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    95
  • Bank reconciliation. Prepare a bank reconciliation as of August 31 from the following information:a. The August 31 balance shown on the bank statement is $4,905.b. There is a deposit in transit of $630 at August 31.c. Outstanding checks at August 31 totaled $945.d. Interest credited to the account during August but not recorded on the com

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    68
  • Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, 2016: Purchase price …………… $ 70,000 Delivery cost …………….. $ 3,000 Installation charge ………. $ 1,000 Estimated life 5 years Estimated units …………… 140,000 Salvage estimate …………. $ 4

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    2
  • Bao Wao Designs Inc. purchased a computerized blueprint printer that will assist in the design and display of plans for factory layouts. The cost of the printer was $22,500, and its expected useful life is four years. The company can probably sell the printer for $2,500 at the end of four years. The printer is expected to last 6,000 hours

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  • Bargain Basement Shopping Corporation purchased new credit card equipment. The invoice price of the equipment was $25,000. Bargain also had the following expenses associated with purchasing this equipment:Shipping and delivery insurance ……………….. $1,750Staff training to use new equipment ……………. 3,175Electricity cost

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    38
  • Barkway Inc. (Barkway) is in the process of finalizing its cash flow statement for 2018. The statement has been completely prepared except for the new product development costs that the controller hasn't decided how to account for. The controller has been examining IAS 38 on intangible assets and realizes that considerable judgment is nee

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    3
  • Barney’s Antique Shop has annual credit sales of $1,620,000 and an accounts receivable balance of $157,500. Calculate the average collection period (use 360 days in a year).

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    166
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