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Question - On January 1, 2005 Able Company purchased all of the stock of Baker Company. On January 1, 2010, Able purchased a piece of equipment for $50,000. This equipment is expected to last 8 years with $2000 salvage. On January 1, 2011 Able sold the equipment to Baker for $50,000. Baker believes the equipment has 7 remaining years and a 2000 salvage. On January 1, 2013 Baker sold the equipment to Cat company for $35,000.
Required: Prepare the journal entries for able, baker and consolidated for 2011, 2012, and 2013.
When calculating a firms cost of capital, why is there a cost associated with retained earnings and why should a firm be concerned if its accounts receivable turnover ratio is unusually high, compared to the industry norm?
companies are spending more money for great benefits for all employees to be covered equally. the demographic
Write a short essay about the nature of "Impairment loss" and required disclosures including referencing.
Supplier One: $400 a unit, total of $100,000, 1/10, n/30, no charge for freight. Supplier Two: $399 a unit, total of $99,750, 2/10, n/30, plus freight of $975.
A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and an estimated salvage value of $5,000. Prepare a depreciation schedule showing the depreciation expense, accumulated depreciat..
The controller of Dugan Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs
Complete the attached template that has the respective tax forms (page 1 of form 1040 and schedules) to complete the tax return. Complete all the applicable parts of the tax forms
Overhead applied to Standard using traditional costing using direct labor hours is
Discuss the motives of the executives to commit fraud. Discuss the culpability of the accountants in preparing the questionable accounting estimates for the cost to compete.
can a sole proprietorship be described as a passthrough entity?this year firm q a cash basis taxpayer remitted 26800 of
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poole corporation has collected the following information after its first year of sales. net sales were 1600000 on
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