PLEASE ANSWER THE FOLLOWING. THANK YOU! 1.) Plastic Container, Inc. purchased several machines at a...
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PLEASE ANSWER THE FOLLOWING. THANK YOU!
1.) Plastic Container, Inc. purchased several machines at a total cost of $600,000. The installation cost for this equipment was $50,000. The firm plans to depreciate the equipment using the MACRS 5-year normal recovery period. Prepare a depreciation schedule showing the depreciation expense for each year.
2.) Go For Broke Mining was extended credit terms of 3/15 net 30 EOM. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, would be ________. If the firm were able to stretch its accounts payable to 60 days without damaging its credit rating, the cost of giving up the cash discount would only be ________.
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