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Adjusting Entries: Shabbona Corporation operates a retail computer store. To improve delivery services to customers, the company purchased a new truck on April 1, 2010. The terms for the acquisition of the truck are: it has a list price of $16,000. It is acquired in exchange for a computer system that Shabbona carries in inventory. The computer system cost $12,000 and is normally sold by Shabbona for $15,200. Shabbona uses a perpetual inventory system. Write the journal entry to record the purchase of the truck. Write Dr. for debit and Cr. for credit.
jordan paid 30000 for equipment two years ago and has claimed total depreciation deductions of 15600 for the two years.
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During the month, 6,000 units of product were manufactured and 5,500 units of product were sold. On May 1, George's carried no inventories.
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O'Connor Company purchased supplies totaling $21,600. By year end, $9,300 of supplies were still on hand. How much supplies expense should O'Connor recognize?
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What is a firm's weighted-average cost of capital if the stock has a beta of 1.45. Treasury bills yield 5%, and market portfolio offers an expected return of 14%? In addition to equity, the firm finances 30% of its assets with debt that has a yiel..
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