On january 1, 2014, fishbone corporation sold a building
P6-1 (Various Time Value Situations) Answer each of these unrelated questions. a. On January 1, 2014, Fishbone Corporation sold a building that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a $240,000 non-interest-bearing note due on January 1, 2017. There was no established exchange price for the building, and the note had no ready […]