Question
In: Accounting
In recent years, Ivanhoe Company has purchased three machines. Because of frequent employee turnover in the...
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Solutions
ekkarill92 answered 2 years agoRelated Solutions
In recent years, Pharoah Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Pharoah Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2015 $135,500
$35,500
10 Straight-line
2
July 1, 2016 81,500
10,200 ...
In recent years, Concord Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Concord Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below. Machine Acquired Cost Salvage Value Useful Life (in years)
Depreciation Method 1 Jan. 1, 2020 $ 96,600 $ 14,000 8
Straight-line 2 July 1, 2021 88,500 12,000 5 Declining-balance 3
Nov. 1,...
In recent years, Crane Company has purchased three machines. Because of frequent employee turnover in the...
In recent years, Crane Company has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2020
$126,000
$16,000
10
Straight-line
2
July 1, 2021
79,000
11,200
5
Declining-balance
3
Nov. 1, 2021
71,900...
In recent years, Sandhill Co. has purchased three machines. Because of frequent employee turnover in the...
In recent years, Sandhill Co. has purchased three machines.
Because of frequent employee turnover in the accounting department,
a different accountant was in charge of selecting the depreciation
method for each machine, and various methods have been used.
Information concerning the machines is summarized in the table
below.
Machine
Acquired
Cost
Salvage
Value
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2015
$137,000
$49,000
8
Straight-line
2
July 1, 2016
96,000
12,100
5
Declining-balance
3
Nov. 1, 2016
69,000...
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting...
In recent years, Avery Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is summarized as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/13
$97,200
$5,700
5
Straight-line
2
1/1/13
122,000
10,000
5
Declining-balance
3
1/1/14
78,200
8,000
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining rate. For...
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting...
In recent years, Avery Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is summarized as follows. Bus Acquired Cost Salvage Value Useful
Life in Years Depreciation Method 1 1/1/15 $ 96,000 $ 6,500 5
Straight-line 2 1/1/15 122,000 12,000 5 Declining-balance 3 1/1/16
93,000 9,000 4 Units-of-activity For the declining-balance method,
the company uses the double-declining...
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows.
For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 120,000. Actual miles of use in the first 3 years were 2016, 24,000; 2017, 34,000; and 2018, 30,000.
...
Problem 9-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in...
Problem 9-2A In recent years, Avery Transportation purchased
three used buses. Because of frequent turnover in the accounting
department, a different accountant selected the depreciation method
for each bus, and various methods were selected. Information
concerning the buses is summarized as follows.
Bus Acquired Cost Salvage Value Useful Life in Years
Depreciation Method
1 1/1/15 $ 98,300 $ 7,000 5 Straight-line
2 1/1/15 118,000 10,000 4 Declining-balance
3 1/1/16 88,640 8,000 4 Units-of-activity
For the declining-balance method, the company uses...
Recognize the effect that employee turnover has on customer satisfaction.
Recognize the effect that employee turnover has on customer
satisfaction.
Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the...
Accounts receivable turnover and days’ sales in receivables
For two recent years, Robinhood Company reported the
following:
20Y9
20Y8
Sales
$7,357,500
$6,195,000
Accounts receivable:
Beginning of year
550,000
500,000
End of year
540,000
550,000
a. Determine the accounts receivable turnover
for 20Y9 and 20Y8. Round answers to one decimal place.
20Y8:
20Y9:
b. Determine the days’ sales in receivables for
20Y9 and 20Y8. Use 365 days and round all calculations to one
decimal place.
20Y8: days
20Y9: days
c. Are the changes...
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