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Mantle Co. exchanged a used machine with Maris Co. for a similar machine with less use. Mantle's old machine originally cost $50,000 and had accumulated depreciation of $40,000, as well as a market value of $40,000, at the time of exchange. Maris; old machine originally cost $60,000 and at the time of the exchange had a book value of $30,000 and a market value of $32,000. Maris gave Mantle $8,000 cash as part of the exchange. The exchange lacked commercial substance. Mantle should record the cost of the new machine.
ti co a manufacturer of stero started its production as retailer in oct 08 for 3 years then decided to turn it to stero
During the year, Krisiten holds two jobs. After an eight-hours day at the first job, she works three hours at the second job. On Fridays of each week, she returns home for dinner before going to the second job.
scuss some limitations of Sunny Power's proposed system and give one specific example of how it can be improved.
Lester's Home Healthcare Services (LHHS) was organized on January 1, 2005, by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 8,000 shares of stock.
the following information relates to vice versa ventures for calendar year 20xx the companys first year of operations
during the year of 20xx a firm plans to produce and sell 15000 units at 35 per unit.nbspnbspbudgeted variable costs are
Assess how a company's accounting and financial reporting is likely to be impacted by the work being done by the EITF on this issue.
Bailey Company sells 25,000 units at $15 per unit. Variable costs are $8 per unit, and fixed costs are $35,000. The contribution margin ratio and the unit contribution margin, (rounding to two decimal points) are:
1. what is the distinction as drawn by the gasb between a fiduciary fund and a permanent fund?2. how should governments
She incurs expenses of $18,000 (accounting fees, marketing survey, etc.) in exploring its business potential. Her parents have agreed to loan her the money required to start the business. What amount of these investigation costs can Juliet deduct ..
In a certain standard costing system the following results occurred last period: labor rate variance, $1,000 U; labor efficiency variance, $2,800 F; and the actual labor rate was $0.20 more per hour than the standard labor rate. The number of actu..
Managers are given bonuses based on the financial accounting net income for their product line. Which one of the following methods, used internally, would best accomplish this? a. Use absorption costing to calculate net income to determine their bo..
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