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The text book Web site has a Microsoft Excel spreadsheet titled fixed_asset.xls. The spreadsheet represents a fixed asset subsidiary ledger for Brazos Corporation. On July 3, 2008, Brazos purchased for the office a multifunction printer/fax/copier from Brereton Office Supplies for $2,000. The machine has no salvage value and a four year life. Add a new ledger record for this machine and calculate and record the 2008 depreciation expense for all fixed assets. Brazos uses straight-line depreciation with a half year convention
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Harry purchased one share of common stock in a computer company for $90. Shortly after he purchased it, the corporation distributed two new shares of common stock for each share held. What is his basis for each of the three shares of common stock?
Moreland Corporation issued $200,000 of 10-year bonds on January 1. The bonds pay interest on January 1 and July 1 and have a stated rate of 10 percent. If the market rate of interest at the time the bonds are sold is 12 percent, what will be the ..
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