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Question - Grande Machinery Company purchased, for cash, a $60,000 custom machine on January 1, 2011. The machine has an estimated 5-year life and w ill be straight-line depreciated with no salvage value. The machine was then leased to Sunshine Engineering Company, an 80%-owned subsidiary, under a 5-year operating lease for $15,000 per year, payable each January.
Record the 2011 entries for the purchase of the machine and the lease on the books of Grande machinery and for Sunshine Engineering.
you purchased a 20-year zero-coupon bond with 1000 par one year ago for 192.87. the market interest rate is now 9
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In each of the following scenarios, an organization receives a contribution in-kind. Prepare journal entries, as necessary, to give them accounting recognition.
1-sebring company reports depreciation expense of 40000 for year 2. also equipment costing 140000 was sold for a 5000
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