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On November 4, 2009, Blue Company acquired an asset (27.5-year residential real property) for $200,000 for use in its business. In 2009 and 2010, respectively, Blue took $642 and $5128 of cost recovery. These amounts were incorrect because Blue applied wrong percentage (i.e. those for 39-year rather than 27.5-year). Blue should have taken $910 and $7272 cost recovery in 2009 and 2010. On January 1, 2011, the asset was sold for $180000. Calculate the gain or loss on the sale of the asset in 2011.
the following information is available for pet store company and its two divisions pet supplies and training.whole
what is the idea of performing an analysis of variance?why is it important to test for variances in your data?
Prepare the appropriate adjusting entries for Brooks as of December 31, 2010, to reflect the application of the "fair value" rule for both classes of securities described above.
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On january 1, 2004 kate products issued ten year convertible bonds of $1800000 at 105. Interest es payable semiannually on june 30 abd dicember 31 at a rate of 12%. straight-line amortization is recorded at the end of the calendar year.
olstad company issued 506900 of 7 10-year bonds on january 1 2012 at face value. interest is payable annually on
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1 under gaap when a company installs safety andor environmental devices in excess of what the law mandates it is
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