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A spray machine was purchased on October 1, 20x7. The cost of the machine was $165,000. The terms of the agreement were fob destination and the shipping costs were $3,000. The area of the building in which this machine was located had to be specially ventilated and partitioned to control fumes and dust. The cost of the building refurbishing was $35,000. The company used their own maintenance employees to complete the job as part of their regular work schedule, and their cost of the refurbishing was an additional $12,000. The machine had an eight-year life with a salvage value of $20,000. The company paid cash to have the building refurbished, signed a note for $125,000 and paid cash for the balance due on the machine.
On November 1, 20x7 a molding machine needed a replacement part. The cost of the part was $8,400, which the company paid for in cash. The purchase price of the machine on November 1, 20x6 was $232,000 and it had an eight-year useful life with a $40,000 salvage value. This part was not expected to increase the useful life of the machine. This part typically breaks down after four years, so the fact that it only lasted one year was a concern. The company can expect to replace this part again in four years or less.
Watson Bottle Company: Bond amortization table and the adjusting journal entry. On June 1, 2008, Watson Bottle Company sold $400,000 in long-term bonds for $351,040. The bonds will mature in 10 years and have a stated interest rate of 8% and a yie..
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The Northwood Inn, the company's fiscal year, September30,2008. Journalize the entries. On August 1, the company collected six months rent of $3900 in advance.
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jpm corporation common stock has a beta of 1.2. the risk-free rate is 6 and the market return is 11.a derive the risk
Finally, Giovanni estimates that he needs to withdraw $55,000 from the business (as dividends) to cover his own personal living expenses this year. Will Giovanni have enough cash to get through the year? What is his budgeted cash balance on Decemb..
An audit client is being sued for $500,000 for discriminatory hiring practices.
dicenta corporation reported net income of 283000 in 2012 and had 50000 shares of common stock outstanding throughout
P Company continued to depreciate the equipment over its 9 year remaining life using the straight-line method. This equipment was sold to a third party on January 1, 2011 for $1,440,000. What amount of gain should P Company record on its books in ..
present value the western sweepstakes has just informed you that you have won 1 million. the amount is to be paid out
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