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Kelsey Co. exchanged Building 26 which has an appraised value of $4,800,000, a cost of $7,590,000, and accumulated depreciation of $3,600,000 for Building K belonging to Dino Co. Building K has an appraised value of $4,512,000, a cost of $9,030,000, and accumulated depreciation of $4,752,000. The correct amount of cash was also paid. Assume depreciation has already been updated. Instructions Prepare the entries on both companies' books assuming the exchange had no commercial substance. Show a check of the amount recorded for Building K on Kelsey's books. (Round to the nearest dollar.)
truestar communication issue 90000 of 9 10 year bonds payable on august 1 2012 at par value. truestars accounting year
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Which one of the following will increase the operating cycle?
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Without regard for this investment, Keefe independently earns $300,000 in net income during 2011. All net income is earned evenly throughout the year. What is the controlling interest in consolidated net income for 2011?
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This case and solution were prepared by Karen Collins, Lehigh University
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fixed asset turnover ratio cisco cisco system reported the following information in its 2009 financial statements 2009
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