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On February 7, McCade Repair Service extended an offer of $63,000 for land that had been priced for sale at $72,000. On February 21, McCade Repair Service accepted the seller's counteroffer of $69,000. On April 30, the land was assessed at a value of $104,000 for property tax purposes. On August 30, McCade Repair Service was offered $110,000 for the land by a national retail chain. At what value should the land be recorded in McCade Repair Service's records?
parrett corp. acquired one hundred percent of jones inc. on january 1 2009 at a price in excess of the subsidiarys fair
on january 1 2013 when the market interest rate was 9 percent seton corporation completed a 200000 8 percent bond issue
lopez company has been approached by a new customer to provide 2000 units of its regular product at a special price of
watson packaging sold a machine for 15000. the company bought this machine for 40000 seven years ago and was
The taxpayer may deduct either cost depletion or percentage depletion, which for the type ore production is 8 percent of production sold from the mine.
However, plans were finalized in 2011 to relocate the company headquarters at the end of 2015. The vacated office building will have a salvage value at that time of $700,000.
What FASB code should we use for this case? Does it violate the GAAP?
The journal entry to record the adjusting entry required on December 31, the end of the current year, to record the current month's accrued vacation pay is
When normalizing operating results, non-recurring expenses that are reported within SG&A, CGS or other expense line items on a company's income statement:
the following transactions occurred during march 2013 for the wainwright corporation. the company owns and operates a
1. hpc inc. has developed a standard pricing system for its products.nbspnbspthe variable cost standards based on
in 2013 the westgate construction company entered into a contract to construct a road for santa clara county for
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