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On January 2, 2013, Bering Co. disposes of a machine costing $44,000 with accumulated depreciation of $24,625. Prepare the entries to record the disposal under each of the following separate assumptions.
1.The machine is sold for $18,250 cash.
2.The machine is traded in for a newer machine having a $60,200 cash price. A $25,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange lacks commercial substance.
3The machine is traded in for a newer machine having a $60,200 cash price. A $15,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance.
rayya co. purchases and installs a machine on january 1 2013 at a total cost of 105000. straight-line depreciation is
On September 1, 2005, Saturn Corporation's common stock was selling at a market price of $300 per share. On that date, Saturn announced a 3 for 2 stock split. At what price would you expect the stock to trade immediately after the split goes into ..
A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that
Calculate Suzy's recognized gain or loss on the distributions, if any. Calculate Suzy's basis in the inventory received. Calculate Suzy's basis in the land received. The land is a capital asset.
The rounded present value of an ordinary annuity for nine years at 9% is 6.0. What amount should N report as capitalized lease liability at December 31, 2009?
from the second e-activity determine the u.s. security and exchange commissions secs position on convergence. based on
in the current year alice reports 150000 of salary income 20000 of income from activity x and 35000 and 15000 losses
A share of common stock just paid a dividend of $1.00. If the expected long-run growth rate for this stock is 5.4%, and if investors' required rate of return is 13.9%, what is the stock price?
Compute the current value depreciation for each year. What is the realized real holding gain for the years 2001 - 2004?
a plant that uses process costing has 8000 units in beginning work in process 15000 more started and 5000 units in the
we are auditing the sales and collection cycle of a non-profit hospital. Just because it is a non-profit organization, that does not eliminate the need for the auditors to assess risk.
Since its organization on January 1, 2001, Langle Inc failed to properly recognize accruals and prepayments. Need to compute the net income for the years 2001,2002, and 2003 (ignore income taxes)
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