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Kerry Corp purchased a used bottling machine from Bob's Bottling Inc. on Jan 1, 2012 for $900000. Bob accounted for the sale correctly under the installment sales method. It had a book value of $675000. Kerry paid with $300000 cash and a note for $600000 with an annual interest of 10%. Kerry agreed to make equal annual payments of $200000. Kerry Corp made their first payment on Jan 1, 2013 of $260000 which included interest of $60000 to date of payment. As of Dec 31, 2013 Bob has deferred gross profit of ?
After applying the net operating losses for 2006, 2009 and 2010 to prior years ( if and where permitted), what amount, if any, is available as a net operating loss to be carried forward to future years?
Justings Co. owned 80% of Evana Corp. During 2006, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000. In its accounting records, Justings should:
Casso limited has an option to purchase new car for the use froma bank on loan for Rs. 100,000 with 16% interest payable. Find which option is more suitable for the company.
Beige's earnings and profits are $300,000. Beige redeems 200 of Lois' shares for $100,000. Determine the amount of Lois' recognized gain (1) if she is Sam's mother and (2) if they are unrelated.
"The difference between practical capacity and master-budget capacity utilization is the best measure of management's ability to balance the costs of having too much capacity and having too little capacity." Do you agree with this statement? Why o..
Illustrate journal entries required and demonstrate the calculations necessary. How to calculate a change in the periodic rate is also shown. Plant asset disposal slides illustrate the following situations: retirement, loss on sale, and gain on sa..
the door company manufactures doors. classify each of the following quality costs as prevention costs appraisal costs
Management also expects improvements in the working capital accounts. The company's objective isto improve accounts receivable by eight days, and turn inventory around by 0.2turns faster. a) How much cashwill be generated from accounts receivable..
Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method.
In the manufacture of 10,000 units of a product, direct materials cost incurred was $145,800, direct labor cost incurred was $82,000, and applied factory overhead was $45,500. What is the total conversion cost?
A customer of company ABC seems to be doubtful at balance sheet date.therefore company made the provision for the customer at the rate 5%.after the balance sheet date.customer paid 80% of the total amount.required:identify the type of event.2.what..
write a memo describing the advantages and disadvantages of organizational forms. you may research sources regarding
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