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Pauline's Pastry Shop decides to remodel its offices this year. As part of the remodeling, Pauline's trades furniture with a cost of $12,000 that had been expensed in the year of purchase (Section 179 expense election) for new furniture costing $22,000. Pauline's receives a $5,000 credit (instead of a cash receipt) for the old furniture and borrows the remaining $17,000 from Easy Finance Company.a. What is Pauline's realized gain or loss on the old furniture? Maybe 0b. What is Pauline's recognized on the exchange?c. What is Pauline's deferred gain on the exchange?d. What is the basis of the new furniture?
Methods Required To Allocate Joint Costs 1) Physical/Unit Measure 2) Constant gross margin rate 3) Net realizable value.
Kenner company produces two products: SR200 and TX500. Budged sales for four months are as follows; SR200 TX500 May 8,000 20,000 June 13,000 32,000 July 11,000 39,000 August 18,000
according to a factory cost ledger, job no 51 has incurred the following costs: direct material - 30
what are thereasons for holding inventories
The San Carlos Company is an electronics business with eight product lines. Income data for one of the products (XT-107) for June 2011 are as follows: Revenues, 200,000 units at av
You perform a travel cost study that looks at the relationship between the cost of visiting a lake (including costs of travel, value of time spent not working & any entry fees), it
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
Q. Can FCA Help Compare Opening A New Landfill Versus Building A Wasteto-Energy Incinerator? Ans. Yes. The principles of FCA are precisely the same no matter how you relat
Timbatown Pty Ltd is a manufacturer of timber tables and chairs. The company mostly sells on a retail basis to household consumers, but occasionally receives large orders for table
These balances for a company x Raw materials $40,000 Work in process $30,000 Finished goods $60,000 for the current year the company estimated that it would work 150.000 mach
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