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On January 1, 2015, Alamar Corporation acquired a 40 percent interest in Burks, Inc., for $210,000. On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $360,000. During 2015, Burks reported net income of $80,000 and declared and paid cash dividends of $25,000. Alamar sold inventory costing $30,000 to Burks during 2015for $40,000. Burks used all of this merchandise in its operations during 2015. Prepare all of Alamar's 2015 journal entries to apply the equity method to this investment.
Doug purchased a new factory building on January 15, 1987, for $4,000,000. On March 1, 2009, the building was sold. Determine the cost recovery deduction for the year of the sale assuming he did not use the MACRS straight-line method.
on september 11 2010 home store sells a mower for 400 with a one-year warranty that covers parts. warranty expense is
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Define the term "margin of safety." If Stine Company expects to sell 1,250 units of its product at $12 per unit, and break-even sales for the product are $12,000, what is the margin of safety ratio?
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renee manufactured and sold a gadget a specialized asset used by auto manufacturers that qualifies for the domestic
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