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Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full month assumption to calculate depreciation). The following occurred in 2015:A. June 30, 2015 - Machinery with a cost of $720,000 and accumulated depreciation through January 1 of $540,000 was exchanged with $450,000 cash for a parcel of land with a fair value of $690,000. The exchange had commercial substance.
Prepare the journal entries to record depreciation on the old machinery and the non-monetary exchange on June 30, 2015
A 1- year Canadian bond with a face value of 5000 can be purchased at 4800. a) Calculate the nominal interest rate in Canada. b) If the Canadian dollar is expected to depreci
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A corporation acquired a truck on July 1, 2012, at a cost of $162,000. The truck has a six-year useful life and an estimated salvage value of $18,000. The straight-line method of d
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Farmer Dorr figures that her fixed costs are $2,000, and the relevant portion of her total cost curve is: Thousands of
Smart Ltd ha sa unit selling price of $500 variable costs per unit of $325 and fixed costs of $140 000. Calculate the break even point in units using (a) a mathematical equations a
Calculate the equal monthly payments and the cost of financing on a 25-year mortgage. The cash value of the house today is $500,000. You are paying monthly at a fixed rate of 6% pe
1) Please elaborate on the attached performance report by preparing a presentation to "management" which incorporates the information presented in the performance report. Present t
A sound foundation is necessary for success in any task from building a house to putting on make up. In terms of U.S Accounting standards it is necessary to have a sound foundatio
Consider the following two mutually exclusive projects: Whichever project you choose, if any, you require a 15 percent return on your investment. a. If you apply the payb
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