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Question - On April 1, 2020, Bramble Company received a condemnation award of $567,600 cash as compensation for the forced sale of the company's land and building, which stood in the path of a new state highway. The land and building cost $79,200 and $369,600, respectively, when they were acquired. At April 1, 2020, the accumulated depreciation relating to the building amounted to $211,200. On August 1, 2020, Bramble purchased a piece of replacement property for cash. The new land cost $118,800, and the new building cost $528,000.
Required - Prepare the journal entries to record the transactions on April 1 and August 1, 2020.
Explain the difference in the accounting treatment of the cost of developed technology and the cost of in-process R&D in an acquisition.
Cost of Goods Manufactured was $850,000. Use this information to find the total manufacturing costs incurred during the fiscal year 2018
Briefly describe to management the inventory profits and the conditions that must exist in order to make such a switch to the LIFO feasible.
Factory overhead cost of Depreciation Expense-Equipment of $5,000. Job-order costing is used. The journal entry to record the actual cost would include
The amount of Coronado Companys inventory, Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market
Samson Company is an engineering firm. Many of the employees are engineers who are working individually on different projects. Most of the design work takes place on computers. The computers are connected by a network and employees can also "surf"..
A bond with a coupon rate of 5.76%, Semiannual payments and matures in 23 years and What is the annual yield
Wildhorse Pharma is a fast-growing drug company. Calculate the price of the stock at the end of Year 3, when the firm settles to a constant-growth rate
Assume the same information as in requirement 1, except the average price of gas for the next three years is not known and you are likely to drive 9,750 miles.
Rama Corp makes machines used at golf courses. One of the parts in their machine is Part #G25 that they currently make at their factory
Oscar, Felix, and Marv are all one-third partners in the capital and profit. What tax basis does Oscar have in his partnership interests at the end of the year?
explain the concept of family life cycle and its use in marketing. choose one stage and give 4 products that might be
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