Business, 24.04.2020 18:16 yaya6940

Bremer Company made the following exchanges of assets during 2019:
Jan. 1 Acquired a more advanced machine worth $10,000 by paying $2,000 cash and giving up a machine that had originally cost $40,000 and has a book value of $12,000.
Feb. 1 Acquired a building worth $55,000 by paying $5,000 cash and giving up a piece of land that had originally cost $35,000.
Mar. 1 Acquired a more advanced machine worth $20,000 by paying $5,000 cash and giving up a machine that had originally cost $13,000 and has a book value of $11,000.
Apr. 1 Acquired a car by giving up a truck that had originally cost $20,000, has a book value of $15,000, and has a "blue book" value of $16,800. In addition, the company received $1,000 cash.
Required:
Prepare Bremerâs journal entry for each exchange. Assume all exchanges were determined to have commercial substance.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 22:50

Assume that the governance committee states that all projects costing more than $70,000 must be reviewed and approved by the chief information officer and the it senior leadership team (slt). at this point, the cio has the responsibility to ensure that management processes observe the governance rules. for example, the project team might present the proposed project in an slt meeting for a vote of approval. what does this scenario illustrate about organizational structure?

Answers: 2

Answer

Business, 22.06.2019 10:30

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

Answers: 1

Answer

Business, 22.06.2019 17:50

Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?

Answers: 1

Answer

Business, 23.06.2019 03:30

Which of the filling is a social news site

Answers: 3

Answer

You know the right answer?

Bremer Company made the following exchanges of assets during 2019:
Jan. 1 Acquired a more adv...

Questions