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Jeans Etc, traded in its old laser printer for a new laser printer at the beginning of March. After updating depreciation prior to the trade-in, the accumulated depreciation account for the new laser printer had a balance of $4,700 and the original cost of the printer was $6,500. The new printer sells for $8,900 and the dealer is willing to give Jeans, Etc. a trade in allowance on the old printer.
Required:1. Prepare the journal entry to record the trade-in assuming a trade-in allowance of $1,200 with the balance paid in cash.2. Prepare the journal entry to record the trade-in assuming a trade-in allowance of $2,300 with the balance paid in cash.
during the fourth quarter of 2006 cablevision inc. generated excess cash which the company invested in securities as
Compute the following (a) the margin of safety in dollars and (b) the margin of safety ratio.
Calculate the balance in the account, "Allowance to Adjust Long-term Investments to Market," on A. December 31, 2009 and B. December 31, 2010.
be you apparel inc. is considering two investment projects. the estimated net cash flows from each project are as
1.how are general long-term liabilities distinguished from other long-term liabilities of the government? how does the
Create a flow chart that illustrates the steps in the accounting cycle and include any other relevant information in the chart that would apply within the steps.
1. marvin corp a publicly accountable entity sold new production equipment to terrell inc. marvin corp. has agreed to
Adria Lopez created Success Systems on October 1, 2013. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer.
Winrow uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2013?
what extent have you seen evidence that lead to determination the "fair value" of a business at acquisition date for 100 percent acquisitions?
Explain the elements of the balance sheet, their purposes, and how to measure - statement of changes in stockholder's equity
Briefly explain the double taxation problem and how paying large salaries to owners avoids it. Briefly discuss how the reasonable compensation issue applies to S-corporations.
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