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Question - Spring Inc. traded its used equipment that has a cost of $200,000, accumulated depreciation of $120,000, and a fair value of $100,000 for another used equipment. The acquired equipment has a net book value and fair value of $88,000 and $130,000, respectively. Spring Inc. also paid $10,000 cash in the transaction. What is the gain/(loss) on disposal as recognized in the Spring Inc.'s income statement? Spring Inc. follows IFRS and assumes that the transaction has commercial substance.
The cost of carrying one unit of inventory for one year is P8, and the purchase order cost per order is P32. What is the economic order quantity?
Assuming that the exchange had commercial substance, prepare the entry to record the exchange of the machine for the computer.
Calculate the accounts receivable turnover and average collection period for 2011. (Use "Net Product Sales." Assume all sales were credit sales.)
How long will you have to wait to buy the stereo? You need RM2,000 to buy a new stereo for your car. If have RM800 to invest at 5 percent compounded annually.
Vedat Corporation acquires new equipment with a list price of $100 to expand its product line. Vedat pays $50 of this cost on delivery and agrees to pay $25 of the remainder in one year's time and the final $25 in two year's time. Discuss how the cos..
MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bellagio in Las Vegas, Nevada. As of a recent year
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You are going to open a business making white boards. You can sell each board for $40. It takes a board maker approximately 60 minutes to make one board. each board maker works an 8-hours day, earning $20. per hour. how many boards must you make each..
Show the statement of financial position presentation of investments and equity at December 31, 2017. At this date, Ogallala Associates has share
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Write the amount that would be recognised as the Lease Receivable by Lessor Ltd at the commencement of the lease in accordance with the requirements
The depreciable cost basis of this residential property is $300,000; the owner's tax bracket is 33 percent. What is the Equity After-Tax Cash Flow
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