The Diamond Glitter Company is in the process of preparing its financial statements for 2012. Assume that no entries for depreciation have been recorded in 2012. The following information related to depreciation of fixed assets is provided to you. The company purchased equipment on January 2, 2009, for $165000. At that time, the equipment had an estimated useful life of 7 years with a $25000 salvage value. The equipment is depreciated on a straight-line basis. On January 2, 2012, as a result of additional information, the company determined that the equipment has a remaining useful life of 3 years with a $15000 salvage value.
Answer to relevant QuestionsIf the ownership is 100% would there be a difference between upstream and downstream sales?The information listed below was obtained from the accounting records of Williams Company as of December 31, 2013, the end of the company’s fiscal year.(a) On August 1, 2013, the company borrowed $120,000 from the Bank of ...1. Our theory depends on being given the population standard deviation. This number is normally not available. Speculate on what we should do.2. The effect of the size n of samples on the standard error of the sampling ...A researcher developed the following multiple regression model to explain the variation in hours worked by married women.H = β0 + β1X1 + β2X2 + β3X3 + β4X4 + εWhere, H = hours worked per month, X1 = age, X2 = education ...An organization has the following breakdown for cost of quality:• Prevention 22%• Appraisal 30%• Internal Failures 33%• External Failures 15%Use your critical thinking skills and discuss what you can deduce from this ...
Post your question