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Problem - Entries for trade of fixed asset - On April 1, Clear Water Co., a water distiller, acquired new bottling equipment with a list price (fair market value) of $350,000. Clear Water received a trade-in allowance of $50,000 on the old equipment of a similar type and paid cash of $300,000. The following information about the old equipment is obtained from the account in the equipment ledger: cost, $280,000; accumulated depreciation on December 31, the end of the preceding fiscal year, $216,000; annual depreciation, $18,000. Assuming the exchange has commercial substance, journalize the entries to record (a) the current depreciation of the old equipment to the date of trade-in and (b) the exchange transaction on April 1.
What factors would you consider as a financial advisor in making decisions about the data above?what stock would you recommend to the client?
Which of the income of individual is subject to final tax? Dividend received by a resident citizen from a resident corporation. / P10,000 prize in Manila won
Accounting Capstone Research Project
on december 31 2004 international refining company purchased machinery having a cash selling price of 85933.75. the
The company is currently producing 3,300 units. According to these data, what is the relevant range over which the company can assume that the variable cost per unit is constant?
what are the financial techniques used to evaluate capital projects in an organization? with respect to the
the ohio corporation has 900000 shares of 1 par value common stock authorized and 550000 shares issued and
Calculate the May raw materials purchases in dollars - Prepare a production budget for January and February 2017 - Prepare a direct labor budget for 2017
?Levy, Smith and Gretzky are partners, Show the entries to record the sale of the assets, collection of accounts receivable, the payment of the liabilities.
Prepare the appropriate journal entry for ABC Paid $ 12,000 in cash for a 6 month insurance policy in advance. Amortize one (1) month's of insurance from item .
Gluten Corporation has the following information pertaining to its Century Division for this year.
How much you will have in this account at the end of 32 years? Assume that all interest received at the end of the year is reinvested the next year.
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