Homework chapter 3

Homework chapter 3 - Michael Ientile Exercises 3: 1, 2...

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Michael Ientile Exercises 3: 1, 2 Problems 3: 5,7,8 Ex 3-1 The installed cost of a new computerized controller was $65,000. Calculate the depreciation schedule by year assuming a recovery period of 5 year and using the appropriate MACRS depreciation percentages given in Table 3.2 on page 108. Year Cost Percentages from table Depreciation 1 $65,000 20% $13,000 2 $65,000 32% $20,800 3 $65,000 19% $12,350 4 $65,000 12% $7,800 5 $65,000 12% $7,800 6 $65,000 5% $3,250 Ex 3-2 Classify the following changes in each of the accounts as either an inflow or an outflow of cash. During the year (a) marketable securities increased, (b) land and buildings decreased, (c) accounts payable increased, (d) vehicles decreased, (e) accounts receivable increased, and (f) dividends were paid. Inflow Outflow A Marketable securities increased X B Land and buildings decreased X C Accounts payable increased X D Vehicles decreased X E Accounts Receivable increased X F Dividends were paid X P3-5 Classifying inflows and outflows of cash
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Homework chapter 3 - Michael Ientile Exercises 3: 1, 2...

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