Brainiac Company purchased a delivery truck for $30‚000 on January 1‚ 2010. The truck has an expected salvage value of $2‚000‚ and is expected to be driven 100‚000 miles over its estimated useful life of 8 years. Actual miles driven were 15‚000 in 2010 and 12‚000 in 2011. | | | | | | | Compute depreciation expense for 2010 and 2011 using (1) the straight-line method‚ (2) the units-of-activity method‚ and (3) the double-declining balance method. (Round cost per mile to 2 decimal
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Week 07 discussion Assignment Jeris Thorpe Rasmussen College Online Professor Wright A269/TAX2002 Section 01 Income Tax April 5‚ 2012 Foreign Tax Credits The Foreign Tax Credit is designed to relieve US taxpayers‚ whether corporate or an individual‚ of double taxation if their foreign source income is taxed by both the US and the foreign country. Unlike the Foreign Earned Income Exclusion‚ you do not have to live overseas to qualify for
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Emerging technology and trends are reshaping the landscape of e-business and supply chain management almost more rapidly than the public can keep up. The public demands faster and better ways of doing e-business and businesses are happy to oblige with as many gadgets as they can put out. Not every piece of technology that comes out is worth the wait‚ but many items are very interesting and make life fun and appealing for many people. Keeping up with new technology is very expensive‚ so it is important
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ACC 291 Effect of Unethical Behavior in Accounting When describing accounting‚ it can be defined‚ as a type of method used to provide information with regards to the financial position of a company or an organization. The information provided to investors is imperative because it provides the investor with valuable information that can lead to their determination as to whether they should decide to invest or not to invest in a specific organization. Consequently‚ because of unethical practices
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Accounting Equation Paper Student Course Date Instructor Accounting Equation Paper The accounting equation which we know as Assets equals to Liabilities plus Equity for a sole proprietorship and for a corporation we know it as Assets equals to liabilities plus stockholders & equity. Assets are company owned‚ liabilities are what company owes and the difference between the both of them is the owner’s equity‚ these three things are what the companies
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Chapter 7 Reflection Paper Financial Accounting Buildings‚ machinery‚ equipment‚ furniture‚ fixtures‚ computers‚ cars and trucks are examples of assets that will last for more than one year‚ but will not last indefinitely. These are some examples of long-lived non-monetary assets. When these assets were acquired‚ the company has made an expenditure. If the company will benefit in the curret period‚ the cost of the goods are expenses. If the benefits are expected in future periods‚ the costs are
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Tax Research Problem I: 6-65 Richard Penn is the president of an architectural firm. He lives in Harrisburg‚ Pennsylvania and has become known throughout to community for excellent work and honesty in his business dealings. Richard believes his reputation is a fundamental part of the success of the firm. Oil was found recently in the area around Harrisburg and some geologists believed the reserves were large. A few well-respected businesspeople organized Oil Company to develop a few wells. Although
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For a while now‚ science has been a mystery to man‚ leading him to want to discover more and more about it. This in many aspects is dangerous to our society‚ being that scientific developments in new studies have been advancing too quickly for our minds to comprehend. Things such as cloning‚ organ donation‚ and pesticides‚ are things that the world may sometimes find useful‚ when in reality‚ it only brings civilization down. "Raising science to the status of godhood carries with
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accountant is very broad. There are many jobs that you can have and still be called an accountant. You can do taxes‚ be a staff accountant‚ or even a bookkeeper. Accounting is basically just recording and analyzing financial transactions. Accounting is important in every business or industry and really in our everyday lives. Accounting is also just balancing your personal check book. Accountants no matter what you title basically all do the same type of thing. When you are an accountant for a
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support strategies are all necessary when implementing a technology plan. This paper will discuss how a new technology system should be implemented in the Finance Department in a law firm and what necessary steps are needed to have a successful technology implementation. Technology Implementation Paper Implementing new technology will affect all employees in the organization. When a recommendation is made to implement new technology or upgrade‚ facts need to be presented to an Executive Committee
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