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On January 1, 2012, Fishbone Corporation sold a building that cost $272,200 and that had accumulated depreciation of $102,100 on the date of sale. Fishbone received as consideration a $261,500 non-interest-bearing note due on January 1, 2015. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2012, was 10%. At what amount should the gain from the sale of the building be reported?
hennings travel company specializes in the production of travel items clocks personal care kits. the following data
Discuss one measure of performance of a company and indicate what the significance of a lower or higher level of such measure is. Compare it next to a second measure and explain the significance of the second measure.
the schroumldinger science store operates a retail store in a local shopping mall.the results of operations for the
The period 30,000 units remained which were 40% complete. The amount of equivalent units in Department A's work in progress inventory at the end of the period is what?
in the month of june davis computers paid three months rent in advance. the journal entry to record this transaction
You just purchased a bond that matures in 4 years. The bond has a face value of $1,000 and has an 9% annual coupon. The bond has a current yield of 7.63%. What is the bond's yield to maturity? Round your answer to two decimal places.
on april 30 2009 tilton products purchased machinery for 88000. the useful life of this machinery is estimated at 8
Wenger Company reported income before taxes of $600,000 and an extraordinary loss of $150,000. Assume that the company's tax rate is 30%. What amounts will be reported on the income statement for income before irregular items and extraordinary ite..
joe fast started a mobile snack food service on january 2 2006 investing 15000 cash depositing in a bank account in the
Teddy's Supplies' CEO has asked you to advise him on the facts of the case and your opinion of their potential liability. He wants to settle the case. Write a memo to him that states your view of whether the company is exposed to liability on all ..
Its accountant uncovered $87,000 in net positive adjustments and $2,000 of preference items in determining its alternative minimum taxable income. What are the corporation's AMTI and AMT?
youre to write down a 2-4 page paper explaining the accounting cycle and each of the ten steps. your paper should be in
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