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Assume your company just sold a mainframe computer. The computer originally cost $300,000 and had accumulated depreciation of $100,000 on the date of the sale. Instead of the buyer paying cash, she gave you a $400,000 noninterest-bearing note due and payable in 3 years. There is no established exchange price for the computer, and the note has no ready market. The prevailing rate of interest for a note of this type is 8%. What should your company record as a gain from the sale of this computer?
Bailey Corporation issued 10,000 shares of no par common stock for $25 per share. Bailey also issued 3,000 shares of $40 par, 6 percent noncumulative preferred stock at $42 per share.
doughboy bakery would like to buy a new machine for putting icing and other toppings on pastries. these are now put on
identify the key steps in the closing process that provide the most opportunity to make mistakes in processing account
in producing 4000 additional units fixed overhead costs would remain at their current level but incremental variable
How much is Jason's taxable gift?
Luster Company has current assets of $130,000 and current liabilities of $80,000, of which accounts payable are $70,000. Luster's cost of goods sold is $460,000, its merchandise inventory increased by $20,000, and accounts payable were $50,000 the..
How much of these premiums may Jean deduct asa deduction for AGI, and how much may she deduct as an itemized deduction (subject to the 7.5% floor)?
assume that the boehm furniture companyu2019s chief financial officer gave you the following information net sales
If the pure expectations theory is correct, what is the yield today for 2-year Treasury securities?
for nearly 20 years custom coatings has provided painting and galvanizing services for manufacturers in its region.
cardinal corporatation is a trucking firm that operates in the md-atlantic states. one of the cardinals major customers
pryce company owns equipment that cost 62400 when purchased on january 1 2011. it has been depreciated using the
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