Accounting homework help

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Multiple Questions Answers

1)The following investment is classified as?

Multiple Questions Answers

1) A new machine was purchased for $10,000 with a life of 4 years and an expected $1,500 salvage value. Its annual operating costs were as follows:

Multiple Questions Answers

1)  A new packaging machine is expected to cost $175,000, but is expected to increase productivity. Increase in annual revenues because of this equipment is estimated to be $50,000 in the 1st year, $85,000 in the 2nd year and $50,000 in subsequent years. The simple non-discounted payback period is (i=10% ):

a.  Less than 1 year

Grace Herron has just approached a venture capitalist for financing

P10-13A Grace Herron has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2013, Grace was loaned $198,000 at an annual interest rate of 7%.

Week 8


Imagine that you were auditing accounts receivable balances to confirm sales and found significant discrepancies between the recorded account balances and returned confirmations from customers. Recommend an alternative approach to confirming sales revenue. Provide rationale for your recommendation.




Discussion Week 8


Create a scenario in which your company owns an impaired asset. Propose one (1) way in which you would report this impairment on the financial statements. Provide support for your proposal.


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