Southern Company owns a building that it leases to others. The building’s fair value is $2,250,000 and its book value is $1,480,000 (original cost of $2,850,000 less accumulated depreciation of $1,370,000). Southern exchanges this for a building owned by the Eastern Company. The building’s book value on Eastern’s books is $1,630,000 (original cost of $2,450,000 less accumulated depreciation of $820,000). Eastern also gives Southern $225,000 to complete the exchange. The exchange has commercial substance for both companies.
Required:
Prepare the journal entries to record the exchange on the books of both Southern and Eastern.

Atlas manufacturing produces a unique valve, and has the capacity to produce 50,000 valves annually. currently atlas produces 40,000 valves and is thinking about increasing production to 45,000 valves next year. what is the most likely behavior of total manufacturing costs and unit manufacturing costs given this change? a. total manufacturing costs will increase and unit manufacturing costs will also increase. b. total manufacturing costs will stay the same and unit manufacturing costs will stay the same. c. total manufacturing costs will increase and unit manufacturing costs will decrease. d. total manufacturing costs will increase and unit manufacturing costs will stay the same.

What is the difference between secure bonds and naked bonds?

Mcdonald's fast-food restaurants have a well-designed training program for all new employees. each new employee is supposed to learn how to perform standardized tasks required to maintain mcdonald's service quality. due to labor shortages in some areas, new employees begin work as soon as they are hired and do not receive any off-the-job training. this nonconformity to standards creates