Megan Corporation purchased machinery on January 1, 2017, at a cost of $250,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $30,000. The company is considering different depreciation methods that could be used for financial reporting purposes.
Instructions
(a) Prepare separate depreciation schedules for the machinery using the straight‐line method, and the declining‐balance method using double the straight‐line rate. (Round to the nearest dollar.)
(a) Double‐declining‐balance expense 2019
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Meg Is A Veterinarian In A Given Week 50 Of The 16 Dogs She Saw Were Boxers Stev
/in Uncategorized /by developerMeg is a veterinarian
.in a given week,50% of the 16 dogs she saw were boxers.steve is also a veterinarian in the same week ,7 of the 35 dogs he saw this week were boxers.each wants to record this part,the whole,the percent does meg need to find the part,the whole,or the percent?
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Megan Corporation Purchased Machinery On January 1 2017 At A Cost Of 250 000
/in Uncategorized /by developerMegan Corporation purchased machinery on January 1, 2017, at a cost of $250,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $30,000. The company is considering different depreciation methods that could be used for financial reporting purposes.
Instructions
(a) Prepare separate depreciation schedules for the machinery using the straight‐line method, and the declining‐balance method using double the straight‐line rate. (Round to the nearest dollar.)
(a) Double‐declining‐balance expense 2019
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Megley Cheese Company Is A Small Manufactuer Of Several Different Cheese Product
/in Uncategorized /by developerMegley cheese company is a small manufactuer of several different cheese products. One of the products is a chees spread that sold to retail outlets. Jason Megley must decide how many cases of cheese spread to manufacture each month. The probability that the demand will be six cases is 0.1, for 7 cases is 0.3, for 8 cases is 0.5, and for 9 cases is 0.1. The cost of every case is $45, and the price that Jason gets for each case is $95. Unfortunately, any cases not sold by the end of the month are of no value, due to spoilage. How many cases of cheese should Jason manufacture each month?
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Mehta Company Traded A Used Welding Machine Cost 9 000 Accumulated Depreciation
/in Uncategorized /by developerMehta Company traded a used welding machine (cost $9,000, accumulated depreciation $3,000) for office equipment with an estimated fair value of $5,000. Mehta also paid $3,000 cash in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.)
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Meier Maria Torres Is A 23 Year Old Hispanic Single Mother Of Two And Is Enrolle
/in Uncategorized /by developerMEIER: 0|.ou 1. Maria Torres is a 23-year-old Hispanic single mother of two and is enrolled as a student at thelocal community college. She works 30 hours a week as a waitress at a local restaurant inaddition to her course work. Maria states that she is “excited about her future career as acomputer programmer.” She manages her living expenses marginally but states that she isreasonably happy and satisfied with her life. She states that she is getting good grades in hercollege courses. Her mother helps care for her two small children when Maria is at school, studying, or working. {Learning Objectives 1 and 4] A. Based on this information, what personal factors or characteristics would reflect Maria’s current state of mental health or illness according to the information in Chapter 1? B. What if Maria’s situation suddenly changed and she lost her housing? ‘What concerns would you, as the nurse, have for Maria and her children now? How would you counselMaria to obtain the needed assistance and support she requires in the face of her new situation?
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Mekong Is A Chinese Food Restaurant And Wants To Install A System To Record Orde
/in Uncategorized /by developerMekong is a Chinese food restaurant and wants to install a system to record orders. When regular customers call the restaurant on the phone, they are asked their phone number. When the number is typed into a computer, the name, address, and last order date is automatically brought up on the screen. Once the order is taken, the total, including tax and delivery, is calculated. Then the order is given to the cook. A receipt is printed. Occasionally, special offers (coupons) are printed so the customer can get a discount. Drivers who make deliveries give customers a copy of the receipt and a coupon (if any). Weekly totals are kept for comparison with last year’s performance. A summary of business activities for taking an order at Mekong is as follows:a)Find and display customer record.•
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Melanie Is Putting A Copy Of Each Valuable Business Record In A Building Far Awa
/in Uncategorized /by developerMelanie is putting a copy of each valuable business record in a building far away from her company. She
is practicing which part of disaster planning?
A. Establish a system for record keeping C. Keep potential lawsuits in mind
B. Store information off site D. Computerize valuable business information
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Melanie S Employer Uses A Formula To Calculate The Pension A Retiring Employee W
/in Uncategorized /by developerMelanie’s employer uses a formula to calculate the pension. A retiring employee will receive 3% of their average salary for the last five years of employment for every year worked. Melanie is planning on retiring at the end of this year after 20 years of employment. Melanie would receive this amount each year until her death. Her salaries for the last five years are $27,900, $29,200, $31,400, $34,000, and $34,900. Calculate her pension
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Melinda Has A 30 Ownership Interest In An Entity For Which She Initially Contrib
/in Uncategorized /by developerMelinda has a 30% ownership interest in an entity for which she initially contributed $180,000. She is one of the original owners of the business. None of the owners are related. During the life of the business, the following have occurred: Cumulative losses of $250,000 during the first 3 years, Profits of $200,000 in the next year, Distributions to owners of $90,000 at the end of year 3, Distribution to Melinda of $50,000 that redeems 25% of her ownership interest at the end of year 4. No other owners redeem any of their ownership interest. Determine the tax consequences to Melinda if the entity is a partnership, an S corporation or C corporation.
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Melinda Takes Out A Loan To Purchase A Car The Balance On Her Loan After X Month 1
/in Uncategorized /by developerMelinda takes out a loan to purchase a car. The balance on her loan after x months is represented by the equation y = 10,000 – 250x and the value of the car after x months is represented by y = 8,000 – 50x. Which statement describes when Melinda’s loan will be equal to the value of the car?
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