ADVANCED ACCOUNTING
14th Edition
ISBN: 9781260361681
Author: Hoyle
Publisher: MCG
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A machine costing $450,000 has a salvage value of $45,000 and a useful life of 15 years. They expect the machine to produce 675,000 units. In year 1, it produced 60,000 units and in year 2, 42,000 units. Using the units of activity method, what is the depreciation expense in year 2?
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- Calculate the cost of goods sold.arrow_forwardMitchell's Home Furnishings made Net Sales Revenue of $180,000, and the Cost of Goods Sold (COGS) totaled $108,000. What is the gross profit percentage for this period? a. 50% b. 40% c. 30% d. 60% HELParrow_forwardGeneral accounting questionarrow_forward
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