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estimated 8 year service life is expected to be $3,000. Calculate depreciation expense using the
straight-line method for 2010 and 2011, assuming a December 31 yea
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BUSI 610: Financial Accounting
Professor Emanuel Zur
Final Term A (DC)
Student Name: _
I pledge on my honor that I have not given or received any unauthorized
assistance on this exam.
Problem 1 (4 points):
Record the following trans
1. At the end of the current period, Maltese, Inc. reports the following amounts: Assets =
$50,000; Liabilities = $28,000; Dividends = $4,000; Revenues = $22,000; Expenses = $16,000.
Calculate net income and stockholders' equity at the end of the period.