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Fishbone Corporation sold a building that cost $ 261, 600 and that had accumulated depreciation of $ 106, 400 on the date of sale. Fishbone
Fishbone Corporation sold a building that cost $ 261, 600 and that had accumulated depreciation of $ 106, 400 on the date of sale. Fishbone received as consideration a $ 250, 900 non-interest-bearing note due on January l, 2017. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January l, 2014, was 11 percentage. At what amount should the gain from the sale of the building be reported? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458, 581.) The amount of gain should be reported $ On January 1, 2014, Fishbone Corporation purchased 320 of the $ 1,000 face value, 11 percentage, 10-year bonds of Walters Inc. The bonds mature on January 1, 2024, and pay interest annually beginning January 1, 2015. Fishbone purchased the bonds to yield 12 percentage. How much did Fishbone pay for the bands? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458, 581.) Fishbone must pay for the bonds $ Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of 54, 410 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 9 percentage applies to this contract, how much should Fishbone record as the cost of the machine? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458, 581.) Cost of the machine to be recorded $ Fishbone Corporation purchased a special tractor on December 31, 2014. The purchase agreement stipulated that Fishbone should pay $ 21, 520 at the time of purchase and $ 5, 810 at the end of each of the next 10 years. The tractor should be recorded on December 31, 2014, at what amount, assuming an interest rate of 11 percentage? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458, 581.) Cost of tractor to be recorded $ Fishbone Corporation wants to withdraw $ 122, 600 (Including principal) from an Investment fund at the end of each year for 9 years. What should be the required Initial Investment at the beginning of the first year If the fund earns 12 percentage? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458, 581.) Required initial investment $
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