Examlex
During 2012, Kramer Company determined, based on new information, that equipment previously depreciated using a ten-year life and a salvage value of $100, 000 had a total estimated life of only six years and a salvage value of $50, 000.The equipment was acquired on January 1, 2010, and was depreciated using the straight-line method.Kramer made an accounting change in 2012 to reflect this additional information, and the change was approved by the IRS.Kramer has an income tax rate of 30%.Assuming Kramer's income before depreciation, before income taxes, and before any retroactive effect of the accounting change (if any) for the year ended December 31, 2012, was $180, 000, Kramer's net income for 2012 should be
Benjamin Butler
A controversial Union general during the American Civil War, known for his administration in occupied New Orleans and for his policies regarding runaway slaves.
Slave Labor
The coerced, unpaid work forced upon enslaved people, critical to economies of slave-holding societies.
Militant Abolitionists
Individuals who used aggressive and often violent tactics to advocate for the end of slavery.
Abraham Lincoln
The 16th President of the United States, who led the country through the Civil War and abolished slavery with the Emancipation Proclamation.
Q15: Which statement regarding the objectives of financial
Q33: Olympia Company sold merchandise on credit
Q46: Which of the following would not be
Q52: The materiality of an item of financial
Q52: Listed below are ten terms describing the
Q60: The December 31, 2010, ending inventory
Q62: The account Unearned Interest: Leases should be
Q69: Which statement is true?<br>A)Stock must have either
Q77: Probable future sacrifices of economic benefits arising
Q82: The accounting changes identified by current GAAP