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Q: On January 1, 2013, Zui Corporation purchased a building and

On January 1, 2013, Zui Corporation purchased a building and equipment that had the following useful lives, residual values, and costs: Building: 40-year estimated useful life, $50,000 residual value...

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Q: Comparative statement of financial position accounts of Secada Inc., which follows

Comparative statement of financial position accounts of Secada Inc., which follows IFRS, follow Additional information: Secada Inc. has adopted the policy of classifying interest paid as operating a...

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Q: Bennett Corp., which began operations in January 2014, follows IFRS

Bennett Corp., which began operations in January 2014, follows IFRS and is subject to a 30% income tax rate. In 2017, the following events took place: 1. The company switched from the zero-profit meth...

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Q: Oliver Inc. acquired the following assets in January 2014:

Oliver Inc. acquired the following assets in January 2014: Equipment: estimated useful life, 5 years; residual value, $15,000 ……………….465,000 Building: estimated useful life, 30 years; no residual val...

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Q: Access the financial statements of Saskatoon-based Potash Corporation of Saskatchewan

Access the financial statements of Saskatoon-based Potash Corporation of Saskatchewan Inc. for its year ended December 31, 2014 from the company’s website or SEDAR (www.sedar.com). PotashCorp is a wel...

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Q: When the records of Hilda Corporation were reviewed at the close of

When the records of Hilda Corporation were reviewed at the close of 2017, the following errors were discovered. Instructions: For each item, indicate by a check mark in the appropriate column whethe...

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Q: The before-tax income for Hawks Corp. for 2016 was

The before-tax income for Hawks Corp. for 2016 was $101,000; for 2017, it was $77,400. However, the accountant noted that the following errors had been made: 1. Sales for 2016 included $38,200 that ha...

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Q: Neilson Tool Corporation’s December 31 year-end financial statements contained the

Neilson Tool Corporation’s December 31 year-end financial statements contained the following errors: An insurance premium of $66,000 covering the years 2016, 2017, and 2018 was prepaid in 2016, with...

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Q: A partial trial balance of Lindy Corporation at December 31, 2017

A partial trial balance of Lindy Corporation at December 31, 2017 follows: Additional adjusting data: 1. A physical count of supplies on hand on December 31, 2017 totaled $3,400. Through an oversigh...

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Q: You have been engaged to review the financial statements of Walsh Corporation

You have been engaged to review the financial statements of Walsh Corporation. In the course of your examination of the work of the bookkeeper hired during the year that just ended, you noticed a numb...

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