--%>
Assignment Help - homework help

Prepare journal entry to record acquisition of four assets

On December 31, 20x1, the Juniper Company purchase a group of four assets for a total cost of $850,000. An independent appraiser assesses the fair value of each asset as

follows:

Asset Fair Value

Land $100,000

Building 600,000

Equipment 250,000

Fixtures 150,000

Prepare the journal entry to record the acquisition of the four assets.

   Related Questions in Financial Accounting

  • Q : Retail or client market and wholesale

    Distinguish between retail or client market and wholesale or interbank market for foreign exchange?

    		•
  • Q : Conversion and competitive effects of

    Discuss the conversion and competitive effects of exchange rate changes on the firm’s operating cash flow.

    		•
  • Q : Computing opportunity cost of producing

    Country C is able to generate seven pounds of food or four yards of textiles per unit of input. Calculate the opportunity cost of producing food rather than textiles.  Also, compute the opportunity cost of producing textiles rather than food.

    		•
  • Q : Trends in international business

    Explain three important trends which have prevailed in the international business during last two decades.

    		•
  • Q : Country and political risk What is

    What is country risk and how it is different from the political risk?

    		•
  • Q : Characteristics of international and

    Explain characteristics of the international and the domestic banks.

    		•
  • Q : Essential condition for

    Specify the essential condition for the fixed-for-floating interest rate swap to be possible?

    		•
  • Q : European Monetary System Discuss the

    Discuss the workings and arrangements of European Monetary System (EMS).

    		•
  • Q : Uncertainty in dollar/franc exchange

    Suppose that your company has an equity position within the French firm. Explain some of the condition under which the dollar/franc exchange rate uncertainty does not have the exchange exposure for your company.

    		•
  • Q : Prepare the journal entry to record the

    On December 31, 20x1, the Kat Co. purchase a group of four assets for a total cost of $1,000,000. An independent appraiser assesses the fair value of each asset asfollows: Asset Fair Value Land $350,000 Building 600,000 Equipment 200,000 Fixtures 150,000 Prepare the journal entry t

    		•