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Thornton Company has an old factory machine that cost $50,000. The machine has accumulated depreciation of $28,000. Thornton has decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a) What entry would Thornton make to record the sale of the machine for $25,000 cash?
(b) What entry would Thornton make to record the sale of the machine for $15,000 cash?
Aquafloat Corporation manufactures raft for us in swimming pools. The standard cost for material and labor is $89.20 per raft. Compute the following amounts. Indicate whether each variance is favorable or unfavorable.
The corporation issues the stock to Sid on September 13, 2010, to raise additional equity capital. Sid owns no other Orlando stock.a. Does Orlando's S election terminate? If so, when is the termination effective?
What role(s) does corporate social responsibility play in the development of a safety-first culture? What documents and strategies can management adopt to ensure that a corporate safety-first culture exists?
Good Co. had a net loss of $75,000 from merchandising operations in 2007. Jane owns Good Co. and works 20 hours a week in the business.
Renee's Rings manufactures college rings. Two models are produced: The Spirit model with a budgeted price of $660 and a standard variable cost of $360.
which of the following is not a possible source of natural monopoly?a. rent-seeking behaviorb. greater use of
The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information: The budgeted net income for November is
products kappa and sigma are joint products. the joint production cost of the products is 800. kappa has a market value
The working capital would be released for use elsewhere when the project is completed. If the company's discount rate is 10%, the investment's net present value is:
randy company has obtained the following data for the first year of operationssalesnbspnbsp nbsp nbsp nbsp nbsp nbsp
Critically evaluate the existing compensation plan and recommend any changes.
The distribution consists of $75,000 cash and property with an adjusted basis to the partnership of $20,000 and a fair market value of $25,000. Immediately before the distribution, Wendy's adjusted basis for her partnership interest is $90,000. We..
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