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Question - Company A sold a machine and recorded a gain of $5 million on income statement. The proceeds from the sale are $10 million. The original cost of the machine is $20 million. What is the accumulated depreciation for the machine when it was sold (in millions)?
1. In its 2013 annual report, Starbucks reported the following (in millions):
Total expenses $14,883.4
Cost of goods sold $11,914.8
Net income $8.8
2. What amount of revenues did Starbucks report for the year?
3. Which of the following accounts will not be affected by the sale of a long-term asset?
Chelsea, who is single, purchases land for investment purposes in 2005 at a cost of $22,000. In 2010, she sells the land for $38,000. Chelsea's taxable income without considering the land sale is $85,000. What is the effect of the sale of the land..
on january 1 2013 princess corporation leased equipment to king company. the lease term is 10 years. the first payment
Bikes Manufacturing produces and sells children's bikes at an average price of $120. Its costs are as follows: direct materials. $12; direct labour.
victoria hair salon styles hair in three operations washing cuttingsetting and drying and charges 25 per styling. each
Record the payroll entry and payroll tax entry for the pay of the week ended June 5 ( his year to date pay is $31,500). Use a General Journal
Mountain High Ice Cream Company, Make the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met.
prepare journal entries as of january 12 to record the payroll and the payroll taxes for the week ending january 8.
What the measure most helpful in preventing fraud is? Which refers to the basis for undertaking a fraud investigation. Predication
at the beginning of the current fiscal year the balance sheet of cummings co. showed liabilities of 219000. during the
A network engineer is troubleshooting a small LAN network with one border router, GW01 that connects to the Internet Service Provider's (ISP) network. GW01 uses its Serial 0/2/1 interface to connect to the ISP's router. Everyone on the LAN network..
Determine the amount of goodwill (or bargain purchase) arising out of the acquisition if the purchase consideration paid was $1,000,000 cash
prior to the last weekly payroll period of the calendar year the cumulative earnings of employees a and b are 106150
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