Question
You have been provided the following information for FAMFA Inc (a retail company) for the year ending December 31, 2015. Interest expense. $17,090 Beginning Inventory.
You have been provided the following information for FAMFA Inc (a retail company) for the year ending December 31, 2015.
Interest expense. $17,090
Beginning Inventory. $63,210
Depreciation Expense. $12,510
Management salaries. $17,950
Advertisng expense. $12,930
Ending Inventory. $68,390
Gross sales. $462,720
Taxes. $3,270
Returns and allowances. $10,210
Lease payments. $39,270
Materials purchases. $228,580
R & D expenditures. $4,890
Repairs and maintenance costs. $2,910
Assuming that accumulated depreciation for December 31, 2014 was $212,820 and that FAMFA did not sell any fixed assets, what will be the accumulated depreciation on December 31, 2015?
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
3rd edition
9781337909402, 978-1337788281
