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1.The Horstmeyer Corporation commenced operations early in 2013. A number of expenditures were made during 2013 that were debited to one account called intangible asset. A recap of the $644,000 balance in this account at the end of 2013 is as follows:
The total amount paid for the Stiltz Corp. stock was debited to this account. The fair values of Stiltz Corp.'s assets and liabilities on the date of the acquisition were as follows:
Receivables ............. $ 100,000Equipment ............. 350,000Patent ............... 150,000Total assets ............. 600,000Note payable assumed ........ (220,000)Fair value of net assets ........ $ 380,000Required:Prepare the necessary journal entries to clear the intangible asset account and to setup
janus products inc. is a merchandising company that sells binders paper and other school supplies. the company is
Explain this type of revenue recognition transaction. What factors should be considered in determining when to recognize revenue in this transaction?
the controller of a german machine toolcompany believed that historical depreciation was inadequate toassigning the
a company expects to sell 75000 widgets at a price of 10. the unit variable cost is estimated at 8.00. the fixed cost
Dance Company has $250,000 of bonds outstanding. The unamortized premium is $3,600. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption?
in todays technology environment hackers present a substantial risk to a firms accounting or business system. as the
the following information relating to the current yeardec31 jan1materials
prepare entries to record transaction related to acquuistion and amortization of intangibles prepare the intangable
Prepare the closing entry necessary at June 30, 2013, and compute the components of net assets as they should be reported as of thatdate.
boston company completed the following transactions use a 9 percent annual interest rate for all transactions a.
Suppose the two firms act as perfect competitors and try to out compete each other and do not collude, what would be the optimal industry price and output?
on january 1 2008 jose company purchased a building for 200000 and a delivery truck for 20000. the following expenders
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