Your company just purchased a piece of equipment. The maintenance cost of the equipment is estimated at $1,200 for the first year, and it is to rise by $300 each year. How much should be set aside now to have enough to cover for the maintenance cost for the next five years? Assume payments are made at the end of each year and an interest rate of 6%.

Before contacting the news or print media about your business, what must you come up with first ? a. a media expertb. a big budgetc. a track recordd. a story angle

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.