Blue inc. has negotiated the purchase of a new piece of automatic equipment at a price of $11,040 plus trade-in, f. o.b. factory. blue inc. paid $11,040 cash and traded in used equipment. the used equipment had originally cost $85,560; it had a book value of $57,960 and a secondhand fair value of $65,964, as indicated by recent transactions involving similar equipment. freight and installation charges for the new equipment required a cash payment of $1,518. a) prepare the general journal entry to record this transaction, assuming that the exchange has commercial substance. (credit account titles are automatically indented when amount is entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)
*** there are 5 journal entries in this problem
b) assuming the same facts as in (a) except that fair value information for the assets exchanged is not determinable. prepare the general journal entry to record this transaction.
Answers: 2
Business, 22.06.2019 15:20
Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.
Answers: 3
Business, 22.06.2019 20:00
Which of the following statements is true of the balanced-scorecard? a. it is a more or less a one-dimensional metric of measuring competitive advantages of a firm. b. it is one of the traditional approaches of measuring firm performance. c. its primary focus is to base a firm's strategic goals entirely on external performance dimensions. d. it attempts to provide a holistic perspective on firm performance.
Answers: 1
Business, 22.06.2019 20:40
Review the wbs and gantt chart you created previously. propose three to five additional activities that would you estimate resources and durations. now, identify at least eight milestones for the recreation and wellness intranet project. remember that milestones normally have no duration, so you must have tasks that will lead to completing the milestone. add your activities and milestones to your gantt chart, creating a new gantt chart. estimate the task durations and enter dependencies as appropriate. remember that your schedule goal for the project is six months. copy the gantt chart and network diagram to a word document.
Answers: 2
Blue inc. has negotiated the purchase of a new piece of automatic equipment at a price of $11,040 pl...
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