Procter Company owns 90% of the outstanding stock of Silex Company. On January 1, 2014, Silex Company sold land to Procter Company for $363,400. Silex had originally purchased the land on June 30, 2010, for $206,400. Procter Company plans to construct a building on the land bought from Silex in which it will house new production machinery. The estimated useful life of the building and the new machinery is 15 years. Collapse question part (a) Partially correct answer. Your answer is partially correct. Try again. Prepare the entries on the books of Procter related to the intercompany sale of land for the years ended December 31, 2014, and December 31, 2015

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

In a chapter 7 bankruptcy, a debtor:

When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is