Business, 05.12.2019 06:31 brodycruce

On january 1, 2014, fishbone corporation sold a building that cost $260,300 and that had accumulated depreciation of $105,700 on the date of sale. fishbone received as consideration a $249,400 non-interest-bearing note due on january 1, 2017. there was no established exchange price for the building, and the note had no ready market. the prevailing rate of interest for a note of this type on january 1, 2014, was 9%. at what amount should the gain from the sale of the building be reported? (round factor values to 5 decimal places, e. g. 1.25124 and final answer to 0 decimal places, e. g. 458,581.)

the amount of gain should be reported

$

on january 1, 2014, fishbone corporation purchased 330 of the $1,000 face value, 9%, 10-year bonds of walters inc. the bonds mature on january 1, 2024, and pay interest annually beginning january 1, 2015. fishbone purchased the bonds to yield 11%. how much did fishbone pay for the bonds?

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On january 1, 2014, fishbone corporation sold a building that cost $260,300 and that had accumulated...

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