Business, 24.12.2019 01:31, mawawakaiii

On july 1, 2017, blossom company received $1,056,000 cash as compensation for the forced sale (condemnation) of the company’s land and building. the state planned to use the property to build a new on-ramp for a nearby highway. the land and building cost $480,000 and $816,000, respectively, when they were acquired. at july 1, 2017, the accumulated depreciation relating to the building amounted to $360,000. on december 1, 2017, blossom purchased a piece of replacement property for cash. the new land cost $345,600, and the new building cost $1,027,200.
prepare the journal entries to record the transactions on april 1 and august 1, 2014. (credit account titles are automatically indented when amount is entered.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 16:30, gomezandy8537

Eager, a tipped employee, reported to his employer that he had received $320 in tips during march. on the next payday, april 4, he was paid his regular salary of $250. the amount of oasdi taxes to withhold from eager’s pay is a. $19.84 b. $15.50 c. $35.34 d. $43.61 e. none of the above. 2 points

Answers: 1

continue

Business, 22.06.2019 06:30, silas99

Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2

Answers: 2

continue

Business, 22.06.2019 11:00, mmcdaniels46867

Companies hd and ld are both profitable, and they have the same total assets (ta), total invested capital, sales (s), return on assets (roa), and profit margin (pm). both firms finance using only debt and common equity. however, company hd has the higher total debt to total capital ratio. which of the following statements is correct? a) company hd has a higher assets turnover than company ld. b) company hd has a higher return on equity than company ld. c) none of the other statements are correct because the information provided on the question is not enough. d) company hd has lower total assets turnover than company ld. e) company hd has a lower operating income (ebit) than company ld

Answers: 2

continue

Business, 22.06.2019 11:00, dxpebetty64

Which statement best describes the variety of workplaces commonly found in the health science career cluster? a. workplaces in this cluster include healthcare facilities such as hospitals, physician offices, and clinics. b. workplaces in this cluster include healthcare facilities, laboratories, and other environments such as offices or homes. c . workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices. d. workplaces in this cluster include private and nonprofit hospitals and clinics, and dentists' offices.

Answers: 1

continue

Do you know the correct answer?

On july 1, 2017, blossom company received $1,056,000 cash as compensation for the forced sale (conde...