I am reviewing the calculation of depreciation in preperation of my next class. I want to see if I am on track with my calculations and responses. K J Inc purchased equipment on January 1, 2005, at a cost of $100,000. The estimated useful life is 4 years with a salvage value of $10,000. Prepare two different depreciation
A firm plans to depreciate a 5 year asset in the next planning period. The statements that will be directly affected immediately are the _______ (a) pro forma income statement, pro forma balance sheet, & cash budget (b) pro forma balance sheet, cash budget, & statement of retained earnings (c) cash budget & pro form
Journalizing transactions, depreciation, net sales and net profit. See attached file for full problem description.