At what amounts should each of the three assets be recorded

Assignment Help Accounting Basics
Reference no: EM132149578

Question - Flounder Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $434,700. The estimated fair values of the assets are land $82,800, building $303,600, and equipment $110,400. At what amounts should each of the three assets be recorded?

Reference no: EM132149578

Questions Cloud

Compute depreciation under the straight-line : Compute depreciation under the straight-line, units-of-output, working hours, sum-of-the-years'-digits, and double-declining-balance methods
What changes do the videos and reading describe : Review all video clips for this week. You may have noticed that these clips suggest some profound changes are taking place in the way children and adults.
Calculate the journal entry to record the exchange : Metlock Corporation traded a used truck (cost $28,400, accumulated depreciation $25,560) Calculate the journal entry to record the exchange
What are the major ethical issues surrounding the study : What are the major ethical issues surrounding this study (there are several listed within the article)? What do IRBs require for human subjects today?
At what amounts should each of the three assets be recorded : The estimated fair values of the assets are land $82,800, building $303,600, and equipment $110,400. At what amounts should each of the three assets be recorded
Business communications and business in general : Social Media: Its role, importance and effect on business communications and business in general.
Problems between management and team : What techniques and communication would you use when addressing concerns and problems between management and team?
State labor laws supersede federal laws always : State labor laws supersede Federal laws always. The Norris-Laguardia Act is also know as:
What techniques and communication would you use : What techniques and communication would you use when identified problems and issues in your workplace.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd