AP11.01 – Great Adventures
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Prepare the statement of cash flows using the indirect method.
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Prepare the statement of cash flows using the indirect method.
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Given the purchase price of equipment, the estimated service life, the residual value, machine working hours, the hours operated per year… calculate the depreciation expense using straight-line, double-declining, and units-of-production hours.
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Calculate depreciation expenses for 2021 and 2022.
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Given the price of the equipment, the price at which it sold, and the depreciation… find the gain on the sale of equipment.
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Given the price of the item, the amount it sold for as well as the accumulated depreciation… prepare the journal entry.
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Given the patent price, equipment price, book value for the patent, the book value for the equipment, accumulated depreciation, and the cost… prepare a journal entry.
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Given equipment purchased, residual value, depreciation value, and cost/sale price… find annual depreciation and the amount of gain or loss for the sale.
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Given the incurred cost, gas expected, and extracted gas… find the depletion for Year 1 and for Year 2.
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Given patent, developed technology, trademark, and goodwill… create the income statement.
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Given project cost, the amount spent, expected life, total, and recognized revenue… create the journal entry, find amortization, and find the amount reported on the balance sheet.
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