1. Savvy Sisters, a high-end furniture production company, has purchased a new plat what period should our new plant be depreciated? The plant's estimated useful life is 40 years. Using a guidance sandwich, respond to this question. That is, introduce the issue, quote relevant guidance, guidance applies to the issue in your own words.

2. Savvy Sisters has also asked you at what point the company should record a liability for employee vacation time that has been earned by employees but not yet taken. Using a guidance sandwich, respond to this questions. If assumptions are required to respond, describe any assumptions you made.

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1 The company has purchased a plant The plant shall be available for use for a period of 40 years As ... View the full answer