(1) a machine costing $400,000 with estimated useful life of 8 years and a residual value of $80,000. (2) a patent costing $400,000 with indefinite useful life. on dec 31, 2017, santana sells both of these assets for a combined sales price of $600,000. assuming santana had not previously recognized any impairments on the machine, what amount of a gain/loss would santana record as a result of this transaction? in entering your response indicate a loss (dr) using a positive value or a gain (cr) using a negative value. for example a gain of 1 should be entered as -1.

Financial information that is capable of making a difference in a decision is

The stock of grommet corporation, a u.s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u.s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u.s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u.s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?

On december 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: accounts receivable, debit balance of $97,900; allowance for doubtful accounts, credit balance of $1,031. what amount should be debited to bad debts expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?