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3 years ago

On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows:

Business

1 answer:

GREYUIT [131]3 years ago

4 0

Based on the information given the appropriate journal entries to record the exchange for both Robers and Phifer are:

Robers entries

Debit Equipment (new) $77,000

Debit Accumulated Depreciation $111 000

Debit Cash $19,000

Credit Equipment $190,000

Credit Gain on Sale $17,000

($77,000+$111,000+$19,000-$190,000)

Phifer's entries

Debit Equipment(new) $96,000

Debit Accumulated depreciation $119,000

Debit Loss on Sale $14,000

($210,000+$19,000-$96,000-$119,000)

Credit Equipment $210,000

Credit Cash $19,000

Learn more about journal entries here:brainly.com/question/24696035

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Answer:

Instructions are listed below

Explanation:

Giving the following information:

She has a choice of receiving a payment of $160,000 immediately or of receiving deferred perpetuity with $10,000 annual payments, the first payment occurring in exactly four years.

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3 years ago

Strait Co. manufactures office furniture. During the most productive month of the year, 3,300 desks were manufactured at a total

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Answer:

Using the high-low method of cost estimation, total fixed costs are $47,020

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3 years ago

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Answer:

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