Harding corporation acquired real estate that contained land, building and equipment. the property cost harding $1,235,000. harding paid $280,000 and issued a note payable for the remainder of the cost. an appraisal of the property reported the following values: land, $296,000; building, $880,000 and equipment, $584,000. (round your intermediate percentages to the nearest whole number: i. e 0.054231 = 5%. do not round any other intermediate calculations.) assume that harding uses the units-of-production method when depreciating its equipment. harding estimates that the purchased equipment will produce 1,030,000 units over its 5-year useful life and has salvage value of $17,000. harding produced 268,000 units with the equipment by the end of the first year of purchase. which amount below is closest to the amount harding will record for depreciation expense for the equipment in the first year?

Balances for each of the following accounts appear in an adjusted trial balance. identify each as an asset, liability, revenue, or expense. 1. accounts receivable 2. equipment 3. fees earned 4. insurance expense 5. prepaid advertising 6. prepaid rent 7. rent revenue 8. salary expense 9. salary payable 10. supplies 11. supplies expense 12. unearned rent

Torino company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $3,500 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation