Business, 21.04.2020 17:24 Killion2022
On March 31, 2013, the Herzog Company purchased a factory, complete with machinery and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets, along with estimated useful lives and residual values, are as follows:Asset Cost Estimated Residual Value Estimated Useful Life in YearsLand $100,000 - -Building 500,000 0 25Machinery 240,000 10% of cost 8Equipment 160,000 13,000 6Total $1,000,000 On June 29, 2014, machinery included in the March 31, 2013 purchase that cost $100,000, was sold for $80,000.Herzog uses the straight-line depreciation method for buildings and machinery and the sum-of-the-years'-digits method for equipment. Partial-year depreciation is calculated based on the number of months an asset is in service. Required:1. Compute the depreciation expense on the building, machinery and equipment for 2013.2. Prepare the journal entry to record the depreciation on the machinery sold on June 29, 2014 and the sale of machinery.3. Compute the depreciation expense on the building, remaining machinery and equipment for 2014.
Answers: 3
Business, 22.06.2019 17:00
Cooper sues company a in state court in south carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of company a rear-ended his pickup truck. company a is incorporated in delaware, has its headquarters in new york, but does a substantial amount of business in south carolina. claiming diversity of citizenship, company a seeks removal to federal district court, but cooper opposes the motion. which of the following is true regarding whether the case may be properly removed to federal district court? the amount in controversy satisfies diversity requirements; and if company a's nerve center is in a state other than south carolina, then the case may be properly removed to federal court.the amount in controversy satisfies diversity requirements; and because company a is incorporated and has its headquarters in a state other than south carolina, the case may be properly removed to federal court.because the amount in controversy satisfies diversity requirements and company a is incorporated in a state other than south carolina, the case may be properly removed to federal court regardless of where company a's headquarters, nerve center, or principal place of business is located.because the amount in controversy satisfies diversity requirements and company a is headquartered in a state other than south carolina, the case may be properly removed to federal court regardless of where company a is incorporated and regardless of the location of its nerve center.because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of company a, the case may not be removed to federal court.
Answers: 1
Business, 22.06.2019 20:40
Aggart technologies is considering issuing new common stock and using the proceeds to reduce its outstanding debt. the stock issue would have no effect on total assets, the interest rate taggart pays, ebit, or the tax rate. which of the following is likely to occur if the company goes ahead with the stock issue? a. the roa will decline.b. taxable income will decline.c. the tax bill will increase.d. net income will decrease.e. the times-interest-earned ratio will decrease
Answers: 1
Business, 22.06.2019 21:20
Which of the following best describes vertical integration? a. produce goods or services previously purchasedb. develop the ability to produce products that complement the original productc. develop the ability to produce the specified good more efficiently than befored. build long term partnerships with a few supplierse. sell products to a supplier or a distributor
Answers: 2
On March 31, 2013, the Herzog Company purchased a factory, complete with machinery and equipment. Th...
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