The four steps to record the disposal of a plant asset are: Record depreciation up to the date of disposal—this also updates Accumulated Depreciation. Remove account balances of the disposed asset—including its Accumulated Depreciation. Record any cash (and/or other assets) received or paid in the disposal. Record any gain or loss resulting from comparing the asset's book value with the market value of any assets received. True or False?

The maximum tax rate on estates and gifts

Which of the following is an effective strategy when interest rates are falling? a. use long-term loans to take advantage of current low rates. b. use short-term loans to take advantage of lower rates when you refinance a loan. c. deposit to a short-term savings instrumentals to take advantage of higher interest rates when they mature. d.select short-term savings instruments to lock in earnings at a current high rates.

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.