Unit 3 - Accounting
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| The exclusive right to reproduce and sell an artistic or published work is called a | show 🗑
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| show | three-year insurance policy on the machine
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| An asset that cost $80,000 and has accumulated depreciation of $60,000 is sold for $12,000. The journal entry would include a | show 🗑
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| A company decides to exchange old equipment with a book value of $81,000, plus $129,000 cash for new equipment. The fair market value of the old equipment is $90,000. The entry to record the new equipment would include a debit to | show 🗑
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| On January 1, a machine with a useful life of 5 years and a salvage value of $8,000 was purchased for $160,000. What is the depreciation expense in year 2 under the double declining-balance method? | show 🗑
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| show | $940
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| show | C) carrying value of the bonds at the beginning of the period by the effective-interest rate.
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| show | lower than the market rate of interest.
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| show | is a current liability.
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| show | A gain of $20,000 is recorded.
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