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Rogers Co. had a sheet metal cutter that cost $110,000 on January 5, 2010. This old cutter had an estimated life of ten years and a salvage value of $16,000. On April 3, 2015, the old cutter is exchanged for a new cutter with a fair value of $60,000. The exchange lacked commercial substance. Rogers also received $15,000 cash. Assume that the last fiscal period ended on December 31, 2014, and that straight-line depreciation is used.
Calculate the gain or loss to be recognized by rogers?
Prepare all journal entries that are necessary on April 3, 2015?
Justings Co. owned 80% of Evana Corp. During 2006, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000. In its accounting records, Justings should:
a proposed new investment has projected sales of 832000. variable costs are 57 percent of sales and fixed costs are
on july 25 2010 karen who is single gives stock with a fmv of 7500 and a basis of 8000 to bill. karen had purchased the
journal entries1. january 2 smith sold 100000 shares of common stock 10. the stock had a par value of 82. january 5
jim wayman is considering opening a kwik oil change center. he estimates that the following costs will be incurred
In recording 400 fees earned on account during a single month, how many times will it be necessary to write Fees Earned.
When you are preparing a partial balance sheet for a 2 year period showing any items related to the contract in a percentage of completion method how do you figure out your accounts receivable, construction in progress and billings figures?
Net assets of the acquired company are revalued to their fair value and any excess of consideration transferred over fair value of net assets is allocated to goodwill.
A company has capital of $200 million. It has an EROIC of 9%, forecasted constant growth of 5%, and a WACC of 10%. What is its value of operations? What is its intrinsic MVA?
larry james is planning to invest 25200 today in a mutual fund that will provide a return of 0.09 each year. what will
On August 1st, the new tenant paid the first and last month's rent and a refundable security deposit of $400. What is Mason's total rental income for 2009?
suppose rhm is expected to pay the total cash dividend of 5.60 next year and its dividends are expected to grow at the
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