Suarez Company uses the straight-line method of depreciation. The company purchased a computer system on January 1, Year 1, for $1,600,000 with an expected life of six years and a salvage value of $130,000. Assuming the computer is sold on July 1, Year 3 for $1,000,000 cash, prepare the journal entries to record depreciation for the first 6 months of Year 3 and the sale of the computer.
What will be an ideal response?
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U.S. GAAP and IFRS require firms to account for minority, active investments, generally those where the investor owns between _____ using the equity method. Under the equity method, the investor recognizes as revenue (expense) each period its share of the net income (loss) of the investee. The investor recognizes dividends received from the investee as a return (reduction) of investment, not as
income. a. 10% and 50% b. 20% and 50% c. 30% and 50% d. 40% and 60% e. 50% and 60%
Warrantless searches are permitted where it is likely that evidence will be destroyed
Indicate whether the statement is true or false
Which of the following is NOT a guideline for using IM at work?
A) Follow the communication custom within your organization when initiating an IM. B) Keep instant messages short and focuses. C) Follow grammar, punctuation, and capitalization standards within the organization. D) Use abbreviations whenever possible. E) Follow your company's IM policy.
An automatic stay ends:
a. upon termination or dismissal of the bankruptcy case. b. upon the debtor's receipt of a discharge. c. only by court order. d. Both (a) and (b).