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Problem 1: Joshua bought a commercial truck for his business's operations in 2010. It cost him $30,000. Every year, its value has diminished. In 2014, the truck had an estimated market value of $25,000. Under which accounting head did Joshua's business record the difference of $5,000?
Problem 2: Wiser Pharmaceutical has received a utility patent from the US Patent and Trademark Office. It sold this patent to another pharmaceutical company for $50,000. Under which accounting head did Wiser record the patent in its books of accounts before the sale?
Use an Excel spreadsheet and the FV, PV, and PMT functions to determine the amount of each of the following . R = theannual interest rate and t = the number number of years.
On that date Thompson sells 20% of its ownership for $2,500,000 cash. Prepare the journal entry to be recorded by Thompson on December 31, 2012.
The manager of the Nebraska division of Super Stores, Inc. is concerned. Prepare an analysis, defending either closing the store or keeping it open.
If Sid elects Sec. 179 and does not take additional first-year depreciation, what is the maximum cost recovery deduction for these purchases for 2018
valentine corporation has a noncontributory defined benefit pension plan. data for 2004 were as follows pension plan
Richard is planning to invest $25000 today in a mutual fund that will provide a return of 8 percent each year. What will be value of the investment in 10 years.
rainey company wrote checks totaling 8540 during october and 9325 during november. 8120 of these checks cleared the
depreciation expense of $43,000, interest expense of $32,000, and a tax rate of 35 percent) $73,000 in cash dividends. What is the addition to retained earnings
Information for Kent Corp. for the year 2016: What should Kent report as the current portion of its income tax expense in the year 2016?
X corp issued a $100,000 5 year bond, stated interest rate on bond at 10% on January 1,2010. Interest is paid annually at the end of the year. the market interest rate was 7%.
Calculate the company's disbursement float, collection float, and net float.
What are the firm's capital structure weights that is, the proportions of financing that came from debt and equity
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