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On January 1, 2010, Smeder Company, an 80% owned subsidiary of Collins, Inc., transferred equipment with a 10-year life (six of which remain with no salvage value) to Collins in exchange for $84,000 cash. At the date of transfer, Smeder's records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. Smeder reported net income of $28,000 and $32,000 for 2010 and 2011, respectively. All net income effects of the intra-entity transfer are attributed to the seller for consolidation purposes. Compute the gain recognized by Smeder Company relating to the equipment for 2010.
Evaluate what are budgeted conversion costs for January and fabric needs correspondingly are planned for raw materials ending inventory each month.
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Determining the annual financing cost of borrowing - Evaluate the annual financing cost of borrowing each of the following amounts under the credit agreement
Illustrate what is the probable type of behavior that each of the costs exhibits? The company expects to produce 10,000 caps this month. Would you expect each type of cost to increase or decrease? Why? Can the total cost of 10,000 caps be determi..
Explain how can the concept of batch-level activities be applied to an airline? What are two examples of batch-level activities for JetBlue? What steps has JetBlue taken to manage these batch-level activities more efficiently?
Evaluate amount of units must be sold in order to realize an operating income of $50,000?
Compute the best option of lease or buy on the facts given - What is the minimal number of copies for which your law office should buy the machine instead of leasing it?
Summerdahl Resort’s common stock is currently trading at $36 a share. The stock is expected to pay a dividend of $3.00 a share at the end of the year (D1 = $3.00), and the dividend is expected to grow at a constant rate of 5% a year. What is its c..
Determine the company degree of operating leverage. and Using the degree of operating leverage, estimate the impact on net income of a 5% increase in sales.
What is the firm's net income after taxes - If the company's tax rate was 34 percent, what is its net income after taxes?
Payment of cash dividends are recorded as a decrease in cash and an increase in expenses a decrease in cash and a decrease in retained earnings an increase in dividend expense and a decrease in cash a decrease in cash and a decrease in..
On July 15, 2011, M.W. Morgan Distribution sold land for $36 million that it had purchased in 2006 for $25 million. Illustrate how would the above amount differ if the company were using indirect method?
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