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1. Slaton Corporation traded a used truck for a new truck. The used truck cost $20,000 and has accumulated depreciation of $17,000. The new truck is worth $35,000. Slaton also made cash payment of $33,000. Prepare Slaton's entry to record the exchange. (The exchange has commercial substance.)
The following information pertains to the October operating budget for Flockhart Corporation. Budgeted sales for October $100,000 and November $200,000.
define the generally accepted accounting principles that justify making adjusting entries and speculate on the primary
ratios provide the users of financial statements with a great deal of information about the entity. do ratios tell the
columbia enterprises is studying the replacement of some equipment that originally cost 74000. the equipment is
Discuss the four criteria used for determining if a lease is to be treated as a capital lease. How does the distinction affect the timing of the lessor's gross investment in the lease, interest income and profit?
prairie fire snowmobile corp. manufactures and sells snowmobiles in wisconsin minnesota and the dakotas. a publicly
According to Rick Wagoner (GM's CEO), the company is in a crucial period in its 100-year history.1 In a CBS 60 Minutes interview in 2006, Steve Kroft described GM as a company "limping" along in the breakdown lane in need of a lot more than a mino..
a loss on disposal of a segment would be reported in the income statement as anadministrative expenseother
market prices are 1035 for bonds 19 for preferred stock and 35 for common stock. there will be sufficient internal
Oddessy consulting has the following for year ended 12-31-09 before adjustments. Oddessy uses the net credit sales method of estimating bad debt expense. The journal entry for estimating bad debt expense at year end is:
If that drop in fair value is viewed as giving rise to another-than-temporary impairment, how would it be reflected in the investment account for a security classified as held-to-maturity?
west coast marine amp rv is considering replacing its wired pendant controllers on its heavy-duty cranes with new
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