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Assume your company just sold a mainframe computer. The computer originally cost $300,000 and had accumulated depreciation of $100,000 on the date of the sale. Instead of the buyer paying cash, she gave you a $400,000 noninterest-bearing note due and payable in 3 years. There is no established exchange price for the computer, and the note has no ready market. The prevailing rate of interest for a note of this type is 8%. What should your company record as a gain from the sale of this computer?
Delmar's forklift cost $33,600, had accumulated depreciation of $27,600, and has a fair market value of $3,600. Hamilton's forklift cost $25,200, had accumulated depreciation of $21,600, and has a fair market value of $3,600.
From the following list, identify whether the change in the account balance during the year would be reported as an operating (O), an investing (I), or a financing (F) activity or not sepa- rately reported on the statement of cash flows (N). Assum..
juett company produces a single product. the cost of producing and selling a single unit of this product at the
Primo Industries also paid $72,000 for expenses in 2014. Of the amount paid, $30,000 was for expenses incurred on account in 2013. In addition, Primo incurred $42,000 of expenses in 2014, which will not be paid until 2015.
on january 1 2012 hammermeister inc. had the following stockholders equity account balances. common stock no-par value
what potential problems can arise if a company incorrectly classifies costs? example what if an inventoriable cost is
Subtract the $60,000 write-off) b) Prepare the journal entry for the year-end adjustetn to the Allowance for Doubtful Accounts balance as of Dec 31,2007
How does time horizon affect the type of information in internal reports?
test xqs software development division sdd has developed several architectural design software packages. one software
Alpha Great Construction is using the percentage of completion method to recognize revenue:
expected sales for tents at sandys camping gear are 4200 6100 2200 3400 and 5300 for the next five quarters. at the end
confectioners a chain of candy stores purchases its candy in bulk from its suppliers. for a recent shipment the company
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