Business, 19.11.2019 04:31, kordejah348
Acompany sells a plant asset that originally cost $180,000 for $60,000 on december 31, 2007. the accumulated depreciation account had a balance of $90,000 after the current year's depreciation of $15,000 had been recorded. the company should recognize aa. $30,000 loss on disposal. b. $30,000 gain on disposal. c. $60,000 loss on disposal. d. $60,000 gain on disposal.
Answers: 2
Business, 21.06.2019 19:30, cbaldwin6605
Consider the following ethical argument. which of the three statements represents the moral statement about a moral principle? statement 1: a dealership advertised a car at a very low price, but only had a similar higher priced model in stock. statement 2: it is wrong to perform a bait and switch. statement 3: the dealership was wrong to advertise the car on special sale when in actually it was not available.
Answers: 3
Business, 23.06.2019 02:50, achy1905
Kandon enterprises, inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. both divisions are considered separate components as defined by generally accepted accounting principles. the horse division has been unprofitable, and on november 15, 2018, kandon adopted a formal plan to sell the division. the sale was completed on april 30, 2019. at december 31, 2018, the component was considered held for sale. on december 31, 2018, the company’s fiscal year-end, the book value of the assets of the horse division was $415,000. on that date, the fair value of the assets, less costs to sell, was $350,000. the before-tax loss from operations of the division for the year was $290,000. the company’s effective tax rate is 40%. the after-tax income from continuing operations for 2018 was $550,000. required: 1. prepare a partial income statement for 2018 beginning with income from continuing operations. ignore eps disclosures. 2. prepare a partial income statement for 2018 beginning with income from continuing operations. assuming that the estimated net fair value of the horse division’s assets was $700,000, instead of $350,000. ignore eps disclosures.
Answers: 2
Acompany sells a plant asset that originally cost $180,000 for $60,000 on december 31, 2007. the acc...
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