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The partnership still has a $75,000 gain on the sale of the land, but Pedros $25,000 share is eliminated by the 754 adjustment to the basis of the land. (1/3 x 475,000) [(1/3 x 400,000) + 25,000]} = 0. p. C:10-27. C:10-91.What is included in the definition of unrealized receivables?
A fixed asset has a cost of $12,000 and a salvage value of $3,000. The asset has a three-year life. If depreciation in the third year amounted to $1,500, which depreciation method was used?
Assume that a certain nursing home has two categories of payers. Medicaid pays $65.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected.
Determine the actual and standard variable cost per bag of dog food produced, separated into direct materials. direct labor, and variable overhead.
Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $22,590 which was paid in the current year.
Cash sales of $836.15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $886.15. The bank credited Logan Company for the correct amount.
Following are selected accounts for Green Corporation and Vega Company as of December 31, 2010. Several of Green's accounts have been omitted. Compute the book value of Vega at January 1, 2006
Compare and contrast the Fair-Value Method (FAS 115) covered in your Intermediate Accounting courses and Equity Method. When should you use each method and why?
On this date, the company concludes that the equipment has a remaining useful life of only 5 years with the same salvage value. Compute the revised annual depreciation.
Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these are available-for-sale securities.
discuss how you believe XBRL will impact the financial reporting of public and private U.S. corporations.
Instructions Prepare the general journal entries necessary to record these transactions. Equity transactions. Presented below is information related to Wyrick Company:
Examine the effect of both full-cost and variable-cost transfer pricing methods on Phipps' cash flows by using a spreadsheet program such as Excel.
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