P10-8 (l04) (nonmonetary exchanges) holyfield corporation wishes to exchange a machine used in its operations. holy-field has received the following offers from other companies in the industry. 1. dorsett company offered to exchange a similar machine + $23,000. (the exchange has commercial substance for both parties.) 2. winston company offered to exchange a similar machine. (the exchange lacks commercial substance for both parties.) 3. liston company offered to exchange a similar machine, but wanted $3,000 in addition to holyfield's machine. (the exchange has commercial substance for both parties.)in addition, holyfield contacted greeley corporation, a dealer in machines. to obtain a new machine, holyfield must pay $93,000 in addition to trading in its old machine. holyfi cost$160,000$120,000$152,000$160,00 0$130,000accumulated depreciation60,00045,00071,00075,00 0-0-fair value92,00069,00092,00095,000185,00 0instructionsfor each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.

Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.

Reagan corporation is a wholesale distributor of truck replacement parts. initial amounts taken from reagan's records are as follows: