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Question - On January 1, 2020, Splish Corporation sold a building that cost $264,650 and that had accumulated depreciation of $103,290 on the date of sale. Splish received as consideration a $254,650 non-interest-bearing note due on January 1, 2023. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2020, was 9%. At what amount should the gain from the sale of the building be reported?
On 1st January, 1961, A. James obtained two motor vehicles, the total cash price of which was £2,400. Payment was to be made as follows.
if the contribution margin ratio is 70% ,targeted operating income is $86000 and targeted sales in dollars is $480,000. what are total fixes expenses?
Suppose that a large company uses batch processing for recording its inventory purchases. Other than its slow response time, what would be the most significant problem with using a batch processing system for recording inventory purchases?
How much can Durant afford to spend on variable cost per unit if production and sales equal 50,000 phones?
You are required to use a financial calculator or spreadsheet (Excel) to solve 10 problems on the applications of the time value of money.
Compute the inventory amount at June 30, 2012 for Kimball International Inc. assuming that it had used the FIFO method of accounting for inventory
Though sustainability initiatives are often driven by regulatory requirements, an increasing number of companies notice that they frequently result in decreased operating costs and increased revenues.
standard quantity per unit of output..... 6.8 metersstandard price......... 14.40the following data pertains to
Bombay Inc. acquired $10,000 cash by issuing a promissory note to the National Bank on November 1, 2013. The note stipulated a one-year term and a 9% annual interest rate.
the auditors for weston university are conducting their audit for the fiscal year ended december 31
selected financial statement information and additional data for stanislaus co. is presented below. prepare a
Assume that you have posted the journal entries to the appropriate ledgers. Insert the correct posting references in the sales and purchases journals.
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