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Question - Pepper acquires 80% of Salt on January 1, 2011 and uses the equity method to account for its investment in Salt. On January 2, 2011, Pepper sells equipment with a 10-year remaining life and an original cost of $5 million to Salt for $4,500,000. Accumulated depreciation on the transfer date was $2 million. Assume the equipment was sold to an outside party on 1/2/ 2013 for $3.8 million.
Required: Prepare 2011, 2012 and 2013 entries related to this equipment for Pepper and Salt in their internal record.
Deines Corporation has fixed costs of $636,020. Compute the required sales in units to achieve its target net income
Keep-it-Hot Inc. manufactures popular thermoses. On June 30, the company had 1,000 thermoses in inventory. Each thermos sells for $8.00. The company's policy is to maintain a thermos inventory equal to 10% of next month's sales.
Provide the journal entry for the estimated warranty expense on May 31 and (b) the October 10 warranty work.
Write a brief comparative narrative analysis using the financial statements of Amazon.com, Inc. presented in Appendix D
during the year chester had the following transactions involving capital assets gain on the sale of an arrowhead
Determine Heather's federal income taxes due or payable, corporate bonds she received as gifts from her father over the last several years
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Discuss what you believe to be the three most difficult aspects of processing payroll manually and how you think ADP can help.
Southwest Airlines received a charter granting the right to issue 100,000 shares of $100 par value, 6% cumulative
How much additional profit could the company have generated in 2008 if it had made optimal decision at split-off?
The corporation has earned a total of $615,000 in net income after income taxes and paid out a total of $320,800 in cash dividends since incorporation.
On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed. Determine equivalent units of production for conversion cost
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