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New fitness equipment was purchased on July 1, 20x2. Terms of purchase Initial cash payment $40,000 A 5 year non-interest bearing note $450,000 Annual interest rate considered appropriate 6% The new fitness equipment has an estimated life of 8 years; the estimated residual value is 15% of original cost. Record the purchase of fitness equipment on July 1, 20x2 Record the depreciation on fitness equipment Show all work and amortization schedule
Slanted Building Supplies purchased 32 percent of the voting shares of Flat Flooring Company in March 20X3. On December 31, 20X3, the officers of Slanted Building Supplies indicated they needed advice on whether to use the equity method or cost me..
The lease contract calls for annual (prepaid) rental payments of $80,000 on each July 1 throughout the life of the lease and for the lessee to pay for all additions and improvements to the leased property.
record in good journal entry format the following transactions1. april 10 300 units of raw materials were purchasedat
ingham inc. has the capacity to produce 10000 fax machines per year. ingham currently produces and sells 7000 units
How much do you need to deposit on a monthly basis if the first payment is made in one month?
The amount of unrealized intercompany profit which should be eliminated in the consolidation process at the end of 2006 is:
Andrea, who is 28 and single, has adjusted gross income of $50,000 and itemized deductions of $5,500. In 2013, Andrea will have a taxable income of:
Maude exchanges a business machine for a new business machine. The adjusted basis of the old machine is $70,000 and the fair market value of the new machine is $62,000. The recognized gain or loss and the basis of the new machine is:
smith cpa was engaged to audit golf corporations financial statements for the years ended august 2006. smith planned
The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported:
the accounting equation is used to make the organizations financial reports. 1 explain what liabilities value would be
If the company has 25 million shares of stock outstanding, what is the best estimate of the stock's price per share?
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