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Rogers Co. had a sheet metal cutter that cost $118,000 on January 5, 2010. This old cutter had an estimated life of ten years and a salvage value of $15,000. 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.
Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover.
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A debt instrument with no ready market is exchanged for property whose fair market value is currently indeterminable. When such a transaction takes place:
an insurance company contract with artists to exhibit their works to the public. aoti has agreed to pay as well known
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During the year, total liabilities increased $100,000 and owner's equity decreased $70,000. What is the amount of total assets at the end of the year?
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