All identifying relationships are 1:N
Indicate whether the statement is true or false
TRUE
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On April 1, 2015, due to obsolescence resulting from a new technology, a company discarded a computer that cost $5,000, had a useful life of 4 years, and a salvage value of $400. Based on straight-line depreciation, the accumulated depreciation as of December 31, 2014 was $3,450.a. Prepare the journal entry to record depreciation up to the date of disposal of the computer.b. Prepare the journal entry to record the disposal of the computer.
What will be an ideal response?
Federal administrative agencies are charged with all but which of the following?
A) National security B) Labor relations C) Securities markets D) All of these are regulated by federal administrative agencies.
For a 20% interest in partnership capital, profits, and losses, Kasi contributes a machine having a basis of $30,000 and an FMV of $40,000. The partnership also assumes a $24,000 recourse liability secured by the machine. The partnership has $6,000 in recourse liabilities immediately preceding Kasi's contributions. Partners share the economic risk of loss from recourse liabilities in the same way
they share partnership losses. Kasi's basis in the partnership interest is A) $10,800. B) $12,000. C) $13,200. D) $30,000.
Desirable workplace employee relations include
A) being a team player. B) having the ability to deal with difficult people. C) displaying a pleasant personality. D) All of the above.