User Account

All Pages

Make journal entries to record the given transactions

Assignment Help Accounting Basics
Reference no: EM131798137

Question - Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. The land and buildings have fair values of $45,000 and $455,000.

Required: Prepare journal entries to record the above transactions.

Reference no: EM131798137

Questions Cloud

Explain a potential barrier they might encounter in society : Think about how a social worker might address one of these barriers on an individual, family, organizational, group, or community level.
Prepare the journal entries at december : Equipment was purchased on June 30, 2009, for $100,000. Prepare the journal entries at December 31, 2011 to correct the errors (ignore income taxes)
Prepare a schedule to compute equity in net income : Prepare a schedule to compute equity in net income and non controlling interest in net income for the current year
Write about the effect of a specific communicable disease : For the next newsletter, you have been asked to write about the effect of a specific communicable disease on your community.
Make journal entries to record the given transactions : Beacon Inc. received a gift of land and building in Twin Pines Park as an inducement to relocate. Prepare journal entries to record the above transactions
How do we define altruism and provide some examples : How do we define altruism? Provide some examples. How do we define sexual selection? How do we define kin selection? Provide some examples.
Discuss what is rms total revenue from the auction : What is RM's total revenue from the auction?
Calculate and compare the total interest paid for loan : Interest rates in Australia are currently at an all-time low. A few days earlier (in August 2017) Sam found her dream home. It's priced at $700,000.
Compute the total cost of making and buying the parts : Assuming that the company has no alternative use for the facilities now being used to produce the thermostat, compute the total cost of making and buying parts

Reviews

Write a Review

Accounting Basics Questions & Answers

  Is the incremental income 950 since thats how much they

pep manufacturing produces product k in batches of 4000 gallons at .60 per gallon. product k can be sold without

  One mutual fund that reflects your investment style

One mutual fund that reflects your investment style, You will be developing a simple portfolio that will be used for analysis over the following five weeks

  Here are the first few lines of the segmented income

herrestad company does produce and sell two products and the details below will be used to prepare a segmented income

  George plans to sell his customers a special for a ski

george plans to sell his customers a special for a ski package weekend. he is able to purchase the package from the

  What is the net present value

What is the net present value if the cost of capital is 12 percent? Use the time value of money charts for your calculations

  Create a statement of cash flows

Create a statement of cash flows. Distinguish between cash flows from operating activities and cash flows from investing activities.

  A tractor with an adjusted basisnbsp of 65000 is sold for

a tractor with an adjusted basis from depreciation of 65000 is sold for 60000 and a new tractor is purchased with a

  Explanationsof the respective outcomes

Explanationsof the respective outcomes reached by the courts in the following cases which all involving sales of land:-I. Californian Copper Syndicate Ltd v Harris (Surveyor of Taxes) (1904) 5 TC 159

  Improper or illegal methods

From the e-Activity, identify the company, the accounting impropriety or illegality, how it was detected, the outcome, and propose a strategy that might have prevented the situation. Indicate how the strategy should be implemented.

  Various costs associated with the operation of factories

various costs associated with the operation of factories are given below. classify each cost as either variable or

  Discuss bonds investment is intended

bonds investment is intended to be held until it is due in 2024. The Investment in Star Inc. is an investment in an associate

  Prepare a bank reconciliation at march

Bell Food Store developed the following information in recording its bank statement for the month of March. Prepare a bank reconciliation at March 31

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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