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Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full month assumption to calculate depreciation). The following occurred in 2015:
A. March 31, 2015 - Negotiations which began in 2014 were completed and a building purchased 1/1/06 (depreciation has been properly charged through December 31, 2014) at a cost of $6,400,000 with a fair value of $4,000,000 exchanged for a second building which also had a fair value of $4,000,000. The exchange had no commercial substance. Both parcels of land on which the buildings were located were equal in value, and had a fair value equal to book value.
Prepare the journal entries to record depreciation on the old building and non-monetary exchange on March 15, 2015.
full explanation on cost concept and classification
Cube Manufacturing began two jobs during May 200X. The company had no beginning inventory. The following information is available:
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Candler Inc a computer software development firm has stock outstanding as follows: 40,000 shares of $2 nonparticipating, noncumulative preferred stock of $10 par, and 250,000 share
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
Determine the Incremental Cost A company currently makes a component that has the given unit cost structure Direct Material Shs. 100
what is total sales
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