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Blue Sky Co. purchased an automated assembly machine on August 1, Q1 2018. The following costs were incurred in the purchase and installation of the machine.
Invoice Price 1,200,400
Purchase discount 7,800
Installation costs 78,000
Transportation costs to Blue Sly 18,900
Spare parts for future use 5,450
Question 1: Record the cost (costs) that would not be recorded in the value of the asset.
Journal entries for Company purchased a special-purpose duplicating machine by issuing a five-year zero-interest bearing note.
Rowdy's Restaurants cash flow (in millions) Cash received from: Customers $3,300 Interest on investments 300 Sale of land 200 Sale of Rowdy's capital stock 800 Issuance of debt securities 3,000 Cash paid for: Interest on debt $400 Income tax 180 Debt..
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Major difference in the accounting for a portfolio of "trading securities" vs. "available-for-sale securities" vs. "held-to-maturity"? In other words, what are the main differences in accounting treatment among the three categorized investment holdin..
Please share your view on the following trends in the following financial ratios that you observe for a company. Please elaborate what may happen to other financial ratios when you observe these trends. Elaborate on the causes of these trends.
On January 1, 2016, Sustco Ltd. purchased a piece of equipment for $19,000. At the time, management determined that the equipment would have a residual value of $3,000 at the end of its five-year life. Sustco has a December 31 year end and uses the s..
You are a sole proprietor. This year you incurred an expense of $152 for office supplies, but you have lost the receipt. Will you deduct this expense on your tax return? Explain your reasoning briefly.
What was total rate of return? You bought 360 shares of stock at a total cost of $7,754.40. You received a total of $403.20 in dividends
The year with book value per share of $3.00 (i.e. 100,000 shares of common stock issued and outstanding) what was its residual earnings?
Craigmont Company's direct materials costs are $4,600,000, its direct labor costs total $8,440,000, and its factory overhead costs total $6,440,000.
Smith Manufacturing uses a process cost system to manufacture laptop computers. The following information summarizes operations relating to laptop computer model #KJK20 during the quarter ending March 31: Units Direct Labor Work-in-process inventory,..
Prepare a monthly flexible budget for each $10,000 increment of sales within the relevant range for the year ending December 31, 2012.
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