Reference no: EM132782380
Problem 1: The following additional information was provided by Beta Corp for 2020. What would be the appropriate treatment for each of the following?
i. purchase of patent issuing a $25,000 5-year 5% note.
ii. Motor vehicle (cost $24,000 and accumulated depreciation $9,00 was sold.
iii. an addition to the building was completed at a cost of $30,000.
iv Bonds payable $50,000 were issued.
v current assets other than cash increased by $44,000.
vi a long term investment in shares was purchased for $220,000.
vii. cash dividends of $57,00 were declared and paid
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