BE 11.03 – Canseco Plumbing Fixtures
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Calculate depreciation expenses for 2021 and 2022.
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Calculate depreciation expenses for 2021 and 2022.
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With the given information from the post-closing trial balance… prepare a (large) classified balance sheet.
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Find the accrual net income for both years and the amount due the advertising agency that would be shown as a liability on RPG’s balance sheet at the end of year 2.
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Determine the amounts that the company should capitalize as the cost of the land and the new building.
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Prepare the necessary journal entries to record the equipment expenditures.
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Given purchases that they made throughout the year on equipment and exclusive rights… prepare a journal entry for the expenditures.
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Calculate the amount paid for goodwill.
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Given the amount of shares issued, the fair value per share, the cost of building completion, and the amount paid in cash… prepare a journal entry for the transaction.
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Prepare the journal entry to record the exchange.
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Given the details of an exchange of old equipment for a newer model… prepare a journal entry for the transaction.
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