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Suppose a piece of plant equipment that PepsiCo put into service on January 1, 2014 at a total cost of $300,000 with an expected useful life of 5 years and a salvage value of $60,000 is sold on June 30, 2018 for $60,000. The accumulated depreciation is $216,000.
Problem 1: What would the journal entry look like to record this sale?
Determine the amount of interest income that should be reported in 2020. The $2,000,000 note receivable is dated May 1, 2019, bears interest at 9%
Analyze the accounting treatment of acquisition related costs in a business combination. how acquisition related costs are accounted
During the 2011 holiday season, Bob, a barber, gave business gifts to 34 customers. The values of the gifts, which were not of a promotional nature, were as follows: For 2011, illustrate what is the amount of Bob's business gift deduction?
What are the number of shares, par value per share, and market price per share immediately after the 2-for-1 stock split? (Round your answers to 2 decimal places.
A food manufacturer reports the following for two of its divisions for a recent year. Compute return on investment and investment turnover for the year.
The land has a fair value of $2,000,000 on January 1, 2020. Do 2020 journal entries on the books of Thor Corp. to reflect the above sale and lease transactions
What is an operating segment as defined by AASB 8? Who is the chief operating decision maker and how are the reportable segments determined?
If you were a business owner or manager, illustrate what would you do to collect on a customer unpaid bill? At what point would you deem the account bad debt and write it off?
A US company has an AUD 1 million receivable in two months. How can the US company hedge the foreign currency receivable? It could
The charity for one parent family said banks, Should bank management care about the recommendation of the charity for One Parent Families.
What the choice of maximum benefit is typically based on? Which Partnership plans help families? Match long term care needs with local facilities
Every year you deposit $1,400 into an account that earns 2% interest per year. What will be the balance of your account immediately after the 40th deposit?
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