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Samsung owns a manufacturing machine that costs $38,400 with accumulated depreciation of $20,400. Samsung exchanges the machine for a newer model that has a market value of $48,000.
Problem 1. Provide the General Journal entries recording the exchange assuming Samsung paid $32,000 cash and the exchange has commercial substance.
Problem 2. Provide the General Journal entries recording the exchange assuming Samsung pays $24,000 cash and the exchange lacks commercial substance.
the following budgeted information about reeves co. is available for september 2010sales for september 2700000gross
What is the total cost per lawn trimmer, assuming 500 trimmers are produced
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In 2020, 3,000,000 tonnes were extracted from the mine. They were all sold before the end of the year. What is the book value of the mine on December 31, 2020?
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In some instances accounting principles require a departure from valuing inventories at cost alone. Determine the proper unit inventory price in the followingcases.
Westion's employees prepare their time cards in the company's online timesheet system. prepare a Entity relationship diagram and Data flow diagram
ling construction entered into a contract in 1997 to build atunnel at a contract price of 11 million. the company
financial statements are a product of the accounting cycle. think about two different companies a manufacturing company
Hepburn Company bought a copyright for $90,000 on January 1, 2016, How much should Hepburn record as amortization expense for this copyright for 2019
Prepare the adjusting entry to record the accrual of interest on December 31, 2022. On October 1, 2021, Monty Corp. issued $828,000, 7%, 10-year bonds
capriati corporation commenced operations in early 2012. the corporation incurred 55130 of costs such as fees to
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