Kerry corp purchased a used bottling machine from bobs

Assignment Help Accounting Basics
Reference no: EM13607005

Kerry Corp purchased a used bottling machine from Bob's Bottling Inc. on Jan 1, 2012 for $2100000. Bob accounted for the sale correctly under the installment sales method. It had a book value of $1575000. Kerry paid with $300000 cash and a note for $1800000 with an annual interest of 10%. Kerry agreed to make equal annual payments of $600000. Kerry Corp made their first payment on Jan 1, 2013 of $780000 which included interest of $180000 to date of payment.

Reference no: EM13607005

Questions Cloud

8-1-x1 we bought a truck for a company use the truck cost : 8-1-x1 we bought a truck for a company use. the truck cost 195000. we estimated that the truck would have 5 year
What must the bandwidth be for a radar system which uses : what must the bandwidth be for a radar system which uses pulse widths of .1 us? if this radar is used for determining
The cost accountant determined 2700000 of the communication : the cost accountant determined 2700000 of the communication networks costs were fixed and should be allocated based on
Walters company produces 15000 pounds of product a and : walters company produces 15000 pounds of product a and 30000 pounds of product b each week by incurring a joint cost of
Kerry corp purchased a used bottling machine from bobs : kerry corp purchased a used bottling machine from bobs bottling inc. on jan 1 2012 for 2100000. bob accounted for the
Equivalent production average costing methodusing the data : equivalent production average costing method.using the data in e 4 and assuming that the company uses the average
While the spring is being compressed what work is done on : a 250 g block is dropped onto a relaxed vertical spring that has a spring constant of k 2.0 ncm. the block becomes
Pressures change from 325 k and 125 kpa to 500 k and 300 : during actual expansion and compression processes of gases pressure and volume are often related by pvn c where n and
Swanson corporation issued 8 million of 20-year 8 percent : swanson corporation issued 8 million of 20-year 8 percent bonds on april 1 2011 at 102. interest is due on march 31 and

Reviews

Write a Review

Accounting Basics Questions & Answers

  What procedure the audit team should implement

Assume that you are part of the audit team and assess a client's audit risk as high. Suggest what procedure the audit team should implement to reduce the risk to the firm.

  Worked on this homework almost done but cant figure out

worked on this homework almost done but cant figure out these qs on october 15 the school agreed to teach a four-month

  Explain the difference between an open system and a closed

explain the difference between an open system and a closed system. can you give an example of a closed system? how is

  Salisbury corporation has been producing and selling 30000

salisbury corporation has been producing and selling 30000 caps a year. the company has the capacity to produce 50000

  Cash acquisition price and the carrying amount of the debt

When convertible debt is retired by the issuer, any material difference between the cash acquisition price and the carrying amount of the debt should be ??

  You were hired to perform an attest engagement for an

you were hired to perform an attest engagement for an electronic supply company sparks electronics. sparks is trying to

  Foulds company makes 13000 units per year of a part it uses

foulds company makes 13000 units per year of a part it uses in the products it manufactures. the unit product cost of

  Prepare journal entries to record the following

prepare journal entries to record the following transactions entered into by flip company

  Describe the significance of the notes to the financial

prepare an 8- to 10-slide microsoftreg powerpointreg presentation for the newly elected board members using the same

  Newcarcom inc an innovative internet-based automobile

newcar.com inc. an innovative internet-based automobile retailer based in ghana is beginning to seek customers in the

  Impairment loss for collier company

What is the impairment loss for Collier Company under a) IFRS and b) US GAAP?

  On july 1 of the current year mr a a cash-method taxpayer

on july 1 of the current year mr. a a cash-method taxpayer sold a painting for which he received 50000 in cash and a

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