Acompany bought new heating system for $54,000 and was given a trade-in of $2,400 on an old heating system, so the company paid $51,600 cash with the trade-in. the old system had an original cost of $48,300 and accumulated depreciation of $44,200. if the transaction has commercial substance, the company should record the new heating system at:
a. $2,400.
b. $4,100.
c. $51,600.
d. $54,000.
e. $55,700.

Need true or false 1 2 3 4 5 6 7 8

Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan