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Rogers Co. had a sheet metal cutter that cost $110,000 on January 5, 2010. This old cutter had an estimated life of ten years and a salvage value of $16,000. On April 3, 2015, the old cutter is exchanged for a new cutter with a fair value of $60,000. The exchange lacked commercial substance. Rogers also received $15,000 cash. Assume that the last fiscal period ended on December 31, 2014, and that straight-line depreciation is used.
Calculate the gain or loss to be recognized by rogers?
Prepare all journal entries that are necessary on April 3, 2015?
At the end of the year, Roger's share of partnership liabilities increased by $20,000. Roger's basis in the partnership interest at the end of the year is:
Using your textbook and at least one scholarly source, compare cost flows among service, merchandising, and manufacturing enterprises, explaining how healthcare differs from the other enterprises
Using published sources, identify the process of cost committment during various phases of some product's life cycle. Try to find several examples so that you can contrast the rate of cost committment for different products.
camden biotechnology began operations in september 2013. the following selected transactions relate to liabilities of
The Carlton Corporation has $4 million in earnings after taxes and 1 million shares outstanding. The stock trades at a P/E ratio of 20. THE firm has $3 million in excess cash.
Determine the break-even point for each alternative.
A company has 60,000 shares of common stock issued and outstanding on January 1, 2014. On April 1, the company issues an additional 10,000 shares. On Oct 1 the company repurchases 20,000 shares as treasury stock. What will the company use as it's..
bsu inc. wants to purchase a new machine for 29300 excluding 1500 of installation costs. the old machine was bought
William County opted to account for its duplication service center in the internal service fund. Previously the center had been accounted for in county's general fund. During first month in which it was accounted for as an internal service fund cent..
What factors are likely to drive an organization's outlays for new capital(such as plant, property and equipment) and for working captial( such as receivables and inventory)? what ratios would you use to help generate forecasts of these outlays?
Malrom uses straight-line amortization for patents. On December 31, 2007, the expected future cash flows expected from the patent were expected to be $800,000 per year for the next eight years.
at the end of 2007 carroll corporation a calendar year accrual basis c corporation wanted to make a contribution to a
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