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A not for profit agricultural society received a gift on 1/1/14 of a tractor. The society plans to use it to cut grass in its 3000 acre demonstration agricultural farm. The gift had been purchased by the donor for $50,000 but had a fair value of $60,000 at the time of donation. The tractor is expected to last 10 more years. How should the donation be recorded by the society (which would be classified an “other-not-for-profit organization”?
A. Dr. Fixed Assets $50,000 Cr. Contributions – temporarily restricted $50,000 B. Dr. Fixed Assets $60,000 Cr. Contributions – temporarily restricted $60,000 C. Dr. Fixed Assets $50,000 Cr. Contributions – unrestricted $50,000
D. Dr. Fixed Assets $60,000 Cr. Contributions – unrestricted $60,000
Prepare the necessary adjusting entries to record bad debt expense assuming the company’s bad debts are estimated to equal.
The company’s last dividend, D0, was $1.25, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of the common stock?
Explain how much different is it to be able to take losses when the taxpayer is not active in the business but merely a "passive investor"?
question1 the project is based upon you finishing the bellwether garden supply bgs. this project will need to you to
BamBoo Furniture customers view and make furniture selections on the show room floor. Employees check item availability using the enterprise database. If the items are available in the warehouse, the employee obtains the customer information to place..
Costs and percentage completion of these units in beginning inventory - weighted-average method in its process-costing system.
Prepare the group cash flow statement of Champions Ltd for the financial year ended 31 December 2006 on the direct method - Champions Ltd group discloses cash flows relating to interest and dividends as part of operating activities.
total current assets of $675,000, and cash and marketable securities of $100.000 in 2007. What were the company's annual sales and its ACP for that year?
Given the allocated costs at 10% of revenue, calculate the number of workshops that must be offered to break-even and calculate assuming Janice can re-negotiate the part-time trainers' cost to $1000 per workshop.
abc corporation had net income from continuing operations for year 2011 totaling 340000. the accountant did not take
An independent auditor must have which of the following?
KISSES RICH INC, purchased as a log-term investment $80 million of 8% bonds dated January 1, on January 1, 2011. Management has the positive intent and ability to hold the bonds until maturity.
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