Reference no: EM131921237
Question - During 2010, the Tinsle Company completed the following transactions related to property, plant, and equipment accounts:
a. On March 18, Tinsle paid $480,000 for land, buildings, and equipment in a lump-sum purchase. An appraisal that cost Tinsle $10,000 revealed fair market values of $200,000 for the land, $150,000 for the buildings, and $150,000 for the equipment.
b. On August 11, Tinsle issued 20,000 shares of its $10 par value common stock in exchange for some equipment. The equipment's fair market value is estimated at $360,000 by an outside appraisal. On the date of the exchange, the stock was being actively traded at $17 per share on a major stock exchange.
REQUIRED - Prepare the necessary journal entry to properly record each transaction (for both a & b).
|
Compute the non-controlling interest in the net income
: Pepe, Incorporated acquired 60% of Devin Company on January 1, 2010. Compute the non-controlling interest in the net income of Devin for 2011
|
|
Identify a hypothesis about social and emotional development
: In this paper, Identify a hypothesis about social and emotional development in the human lifespan development. Write about the middle childhood.
|
|
What percentage interest in the pool is held by the town
: Earnings on pooled investments for the six months ended June 30 totaling $300,000, What percentage interest in the pool is held by the town and school district
|
|
What is the firm marginal cost of production
: If the price of Labor, w = $12 per unit of Labor, what is the firm's Marginal Cost of production when the firm is producing 48 units of output?
|
|
Prepare journal entry to properly record transactions
: On March 18, Tinsle paid $480,000 for land, buildings, Prepare the necessary journal entry to properly record each transaction (for both a & b)
|
|
How much output will each firm produce
: Also, the market demand is given by P = 306 - 3Q, where Q is the total amount of the good produced by all of the firms combined. Therefore, Q = n*q.
|
|
Prepare the journal entry to record salaries
: Marshal Co. employs a staff of 30 at a total monthly gross pay of $60,000. Prepare the journal entry to record salaries
|
|
Set up the maximization problem
: The price of food is $1 per unit and the price of shelter is $10 per unit. Hugo's Income is $100. Food and Shelter may be purchased in fractions.
|
|
What was the ending finished goods inventory balance
: Additional information for the year is as follows: Direct materials used $202,600. What was the ending Finished Goods Inventory balance on 12/31
|