On January 1, Year 3, a nongovernmental non profit nautical society received a gift of an exhaustible fixed asset with an estimated life of 10 years and no salvage value. The donor's cost of this asset was $20,000 and its fair value at the date of the gift was $30,000. What amount of depreciation of this asset should the society recognize in its Year 3 financial statements?

Afood worker has just rinsed a dish after cleaning it.what should he do next?

Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?

Frolic corporation has budgeted sales and production over the next quarter as follows. the company has 4100 units of product on hand at july 1. 10% of the next months sales in units should be on hand at the end of each month. october sales are expected to be 72000 units. budgeted sales for september would be: july august september sales in units 41,500 53,500 ? production in units 45,700 53,800 58,150