User Account

All Pages

Prepare the journal entry to record the exchange

Assignment Help Accounting Basics
Reference no: EM133089822

Question - Wildcat, Inc., exchanged land and cash of $7,000 for equipment. The land had a book value of $45,000 and a fair value of $49,000. Prepare the journal entry to record the exchange. Assume the exchange has commercial substance.

Reference no: EM133089822

Questions Cloud

Distinguish between cash and terms contracts : 2. The definition of a "mortgage" varies from state to state under the respective legislation of each states and territories of Australia.
What will be the amount of cash received by King : If Nettles is personally bankrupt and unable to pay any of the $60,000, what will be the amount of cash received by King and Tanaka upon liquidation
Explain mass customization of samsung company : Explain Mass customization of Samsung Company in details?
Ancient romans in the cities and countryside : What do we know about Roman society based on the layout and function of the various kinds of dwellings used by the Ancient Romans in the cities and countryside?
Prepare the journal entry to record the exchange : The land had a book value of $45,000 and a fair value of $49,000. Prepare the journal entry to record the exchange
What is the structural-change model theories : What is the Structural-Change Model theories of Economic Development?
Estimate fish farm tech cost of retained earnings : Fish Farm Tech's marginal tax rate is 35%. Use the capital asset pricing model to estimate Fish Farm Tech's cost of retained earnings
Death camps in nazi germany : Stanley Milgram and his experiment. Please tell me what you believe you would have done and why? Be honest. Why you believe this experiment was conducted and wh
Identifying reasons for factors influencing noncompliance : You are interested in identifying the reasons for and factors influencing noncompliance in the patients diagnosed to be HIV +ve.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd