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Question - Pina Company purchased equipment on January 2, 2016, for $121,300. The equipment had an estimated useful life of 5 years with an estimated salvage value of $12,800. Pina uses straight-line depreciation on all assets. On January 2, 2020, Pina exchanged this equipment plus $12,200 in cash for newer equipment. The old equipment has a fair value of $50,400.
Required - Prepare the journal entry to record the exchange on the books of Pina Company. Assume that the exchange has commercial substance.
the lansing community college registrars office is considering replacing some canon copiers with faster copiers
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Lisa states that she does not have time to develop and implement a system of internal controls. Explain to Lisa the components of internal control
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As the accountant for Runson Moving Company, you are preparing the company's annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A on pages 5-36 to 5-38.
kunkel company makes two products and uses a conventional costing system in which a single plantwide predetermined
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