Skysong Company purchased an electric wax melter on April 30, 2020, by trading in its old gas model and paying the balance in cash. The following data relate to the purchase. List price of new melter $17,380 Cash paid 11,000 Cost of old melter (5-year life, $770 salvage value) 12,320 Accumulated Depreciation-old melter (straight-line) 6,930 Secondhand fair value of old melter 5,720 Prepare the journal entries necessary to record this exchange, assuming that the exchange (a) has commercial substance, and (b) lacks commercial substance. Skysong’s fiscal year ends on December 31, and depreciation has been recorded through December 31, 2019. (C
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Business, 21.06.2019 14:00, myiacoykendall
Jason day company had bonds outstanding with a maturity value of $300,000. on april 30, 2017, when these bonds has an unamortized discount of $10,000, they were called in at 104. to pay for these bonds, day had issued other bonds a month earlier bearing a lower interest rate. the newly issued bonds had a life of 10 years. the new bonds were issued at 103 (face value $300,000).
Answers: 2
Business, 22.06.2019 10:10, manny2275
True tomato inc. makes organic ketchup. to promote its products, this firm decided to make bottles in the shape of tomatoes. to accomplish this, true tomato worked with its bottle manufacture to create a set of unique molds for its bottles. which of the following specialized assets does this example demonstrate? (a) site specificity (b) research specificity (c) physical-asset specificity (d) human-asset specificity
Answers: 3
Business, 22.06.2019 10:50, stodd9503
Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate. a. after a long search, jon finds a job. b. tyrion, a full-time college student, graduates and is immediately employed. c. after an unsuccessful job search, arya gives up looking and retires. d. daenerys quits her job to become a stay-at-home mom. e. sansa has a birthday, becomes an adult, but has no interest in working. f. jaime has a birthday, becomes an adult, and starts looking for a job. g. cersei dies while enjoying retirement. h. jorah dies working long hours at the office.
Answers: 2
Skysong Company purchased an electric wax melter on April 30, 2020, by trading in its old gas model...
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