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1. Barry Bonds Land Development, Inc. purchased land for $70,000 and spent $30,000 developing it. It then sold the land for $160,000. Tom Glavine Manufacturing purchased land for a future plant site for $100,000. Due to a change in plans, Glavine later sold the land for $160,000. Should these two companies report the land sales, both at gains of $60,000, in a similar manner?
part i.east valley manufacturing had gross profit of 450000 and selling amp administrative expenses of 275000 last
1.please describe revenues and expenses. please describe gains and losses.2.can you provide an example using the
emerson ventures is considering purchasing a new line of hang gliders. the company estimates that variable costs will
john galt shipping wishes to ship a product that is made at two different factories to three different warehouses. they
Bob and Carla transfer property to stone corporation
In January of 2007, Kerr successfully defends the patent at a cost of $81,000, extending the patent's life to 12/31/18. What amount of amortization expense would Kerr record in 2007?
Calculate profit and the value of ending inventory for each year using full costing - explain why profit fluctuates from year to year even though the units sold and selling price remains the same.
Why might it be important to have internal documents produced as an output of the accounting information system?
the vegas corporation had both common stock and preferred stock outstanding from 2010 through 2012. information about
On June 1, 2012, Dalton Production Company had beginning balances as shown in the T-accounts below. Materials inventory Work in process inventory Finished goods inventory Manufacturing overhead 10,000 20,000 25,000 41,000 During June.
ruth ames died on january 10 2012. in filing the estate tax return her executor melvis sims elects the primary
Both Mr. Jones and Mrs. Green earned $50,000 gross in 2009. Yet, Mr. Jones owed IRS $600 on his tax return while the IRS owed Mrs. Green $600 on her tax return.
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