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Bogdan
10 days ago
11

Metro Company trades its used machine for a new model at Denver Solutions Inc.

Business
1 answer:
Free_Kalibri [3.4K]10 days ago
4 0

Answer:

Cost of the new machine:

= Price of new machine - Trade allowance + Market value of old machine

= $16,000 - $9,000 + $6,000

= $13,000

Consequently, the journal entry would be recorded as follows:

New Machine Cost A/c                               Dr. $13,000

Accumulated Depreciation (Book Value) A/c Dr. $4,000

Loss from machine exchange A/c                    Dr. $2,000

         To Old Machine (Book Value)                    $12,000

         To Cash (16,000 - 9,000)                        $7,000

(To document the equipment exchange)

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10 days ago
In a team that follows agile, how would a team member know what others are working on? 1. The Product Owner and the Facilitator
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1 month ago
Butterfly tractors had $14 million in sales last year. cost of goods sold was $8 million, depreciation expense was $2 million, i
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A)
Ventas. 14
Costo de bienes vendidos. (8)
Depreciación. (2)
Intereses (1)
Beneficio neto antes de impuestos=3 millones
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B)
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Flujo de efectivo=3.95+1=4.95



5 0
1 month ago
Read 2 more answers
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