Business, 24.06.2019 17:30 Lianabel0517
P10-8 (l04) (nonmonetary exchanges) holyfield corporation wishes to exchange a machine used in its operations. holy-field has received the following offers from other companies in the industry. 1. dorsett company offered to exchange a similar machine + $23,000. (the exchange has commercial substance for both parties.) 2. winston company offered to exchange a similar machine. (the exchange lacks commercial substance for both parties.) 3. liston company offered to exchange a similar machine, but wanted $3,000 in addition to holyfield's machine. (the exchange has commercial substance for both parties.)in addition, holyfield contacted greeley corporation, a dealer in machines. to obtain a new machine, holyfield must pay $93,000 in addition to trading in its old machine. holyfi cost$160,000$120,000$152,000$160,00 0$130,000accumulated depreciation60,00045,00071,00075,00 0-0-fair value92,00069,00092,00095,000185,00 0instructionsfor each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.
Answers: 3
Business, 22.06.2019 11:40, keke6361
On coral island in 2012, the labor force is 12,000, the unemployment rate is 10 percent, and the labor force participation rate is 60 percent. during 2013, 200 unemployed people found jobs and the working-age population increased by 1,000. the total number of people in the labor force did not change. the working-age population at the end of 2013 was the unemployment rate at the end of 2013 was round up to the second decimal. the labor force participation rate at the end of 2013 was round up to the second decimal.
Answers: 1
Business, 22.06.2019 15:20, babyduck0664
Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."
Answers: 3
Business, 22.06.2019 21:40, brianmondesir1owahud
Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.
Answers: 2
Business, 22.06.2019 22:50, chrisraptorofficial
Wendy made her career planning timeline in 2010. in what year should wendy's timeline start? a. 2013 o b. 2012 oc. 2010 o d. 2011
Answers: 2
P10-8 (l04) (nonmonetary exchanges) holyfield corporation wishes to exchange a machine used in its o...
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