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At the end of the year Panda Inn owns a fleet of 15 trucks all of which have 10 year useful lives, $1,000 residual values and are depreciated under GAAPs straight-line method. The CEO has authorized the sale of one five-year-old truck whose original cost was $45,000 at December 31". A few months later on March 29th a buyer is found and Panda receives the Kelly Blue Book fair market value of $16,900 for the automobile. Please show calculations and record JE(s) below.
Calculations:
Please do not write below this line. For use by Prof. Mares Bonuspoints earned: /2
quince interests is a partnership with a tax year that ends 30th september 2012. during that year potter a partner
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Journal entries for Collected the correct balance due. Collected the correct balance due from the Transaction 4 sale of Merchandise, net of the discount.
the cost of executing a transactiion is much lower firms have the ability to gather useful information about buyers firms can reduce their reaction times to changing market conditions and increase their sales reach.
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the only other debt outstanding during the year was a $1,000,000, 10-year, 9% note payable dated January 1, 2006. What is amount of interest that should be capitalized by Bass during 2012?
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