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1.Funseth Farms Inc. purchased a tractor in 2010 at a cost of $30,000. The tractor was sold for $3,000 in 2013. Depreciation recorded through the disposal date totaled $26,000.Required:1. Prepare the journal entry to record the sale.2. Assuming that the tractor was sold for $10,000, prepare the journal entry to record the sale.
A firm is trying to determine whether to replace an existing asset. The proposed asset has a purchase price of $50,000 and has installation costs of $3,000. The asset will be depreciated over its five year life using the straight-line method.
jan. 3. totals on cash register dials are as follows groceries 200 meats 50 vegetable and fruits 20. note enter the
davenport inc. offers a new employee a lump-sum signing bonus at the date of employment. alternatively the employee can
profit is the difference between the amount earned from the customer for goods sold or services provided by the
If the actual December 31st A/R balance was $12,000; projected sales in March are $50,000; 70% of sales are on credit; 60% of credit sales are collected in the month of sale and 40% are collected in the month after the sale, what is the projected ..
tannwin co. sells a new product called accountomatic and has predicted the following sales for the first four months of
lawford and delgado have decided to form a partnership. they have agreed that lawford is to invest 90000 and that
1.Air France KLM (AF) , a French company, prepares its financial statements according to International Financial Reporting Standards.
1 you are auditing the accounts receivable balance of a cable television provider. individual accounts
on january 3 2010 moss co. acquires 100000 of adam companys 10-year 10 bonds at a price of 106418 to yield 9. interest
wyco company manufactures toasters.for the first 8 months of 2012the company reported the following operating results
a) Compute the amount received for the bonds.
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