1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nataliya [291]
1 year ago
12

If a company exchanges an asset with a book value of $260,000, an original cost of $500,000, and a fair value of $300,000 plus c

ash of $100,000 for a new asset, what is the gain or loss recognized on the transaction?.
Business
1 answer:
Harlamova29_29 [7]1 year ago
8 0

The gain that would be recognised on the exchange of the asset by the company is $140,000.

<h3>What is the gain on the asset?</h3>

The gain on the exchange of an asset is recorded when the fair value is greater than the book value of the asset. The gain on the exchange is sum of the difference between the fair value and the book value and the cash.

Gain = (fair value - book value) + cash

($300,000 - $260,000) + 100,000 = $40,000

You might be interested in
(c) Which of the following statements are true? (You may select more than one answer. Single click the box with the question mar
AysviL [449]

Answer:

Customer and Product Margin under Activity-based Costing and Traditional Costing

True Statements:

1. If a customer orders more frequently, but orders the same total number of units over the course of a year, the customer margin under activity based costing will decrease.

2. If a customer orders more frequently, but orders the same total number of units over the course of a year, the product margin under a traditional costing system will be unaffected.

Explanation:

Customer Margin is the difference between the total revenue generated from a customer minus the acquisition and service costs.   In the above instance, the customer margin decreases because of the costs of servicing the customer's frequent orders.  Customer service costs are usually higher with more frequent orders, when activity-based costing is employed because frequent orders increase the activity level and the associated costs.

Product Margin is the profit margin generated per product.   It is the markup on the cost of the product.  It shows the difference in amount between the selling price and the manufacturing cost.  Frequent orders cannot change the product margin under the traditional costing technique unlike it does with the activity-based costing technique.

6 0
3 years ago
Henry Carr and Noreen Mason formed a partnership, dividing income as follows: annual salary allowance to Carr of $42,000; intere
Evgesh-ka [11]

Answer:

$239,060

Explanation:

The computation of the net income distributed to Carr as follows;

<u> Particulars     Carr      Mason      net income distributed   Non-allocated </u>

Net income                                                                              $442,000

Salary

allowance     $42,000                  $42,000                            $400,000

Interest

on capital     $4,410   $10,290      $14,700                            $385,300

left amount  $192,650 $192,650  $385,300                        $0

Net income  $239,060

8 0
3 years ago
If you are working on a highly energetic reaction, and you need to evacuate, what should you do
babunello [35]
The answer for this question is: Stabilize the reaction
Chemicals with highly energetic reaction will have more risk to create high-energy force if we somehow fail to contain it safely.
When you need to evacuate, this type of reaction could create an explosion, so it's really advised to stabilize the reaction first.
8 0
3 years ago
The beliefs and values you were raised with are part of your ____________.
Anika [276]
I am guessing culture, because your culture is your tradition and religion which are your beliefs and values.
5 0
3 years ago
Read 2 more answers
What impact can good accountability mechanisms have on the admissibility of evidence in court cases? enables encryption of the e
ludmilkaskok [199]

Answer:

Option A, ENABLES ENCRYPTION OF THE EVIDENCE.

Explanation:

Admissible evidence, in a court of law, is any testimonial, documentary, or tangible evidence that is introduced to a judge or jury to prove a point (put forth by a party to the proceeding) or element in a case.

However, before an evidence can be used in a case, it must be considered admissible. And for an evidence to be admissible, it must be relevant and not excluded by rules of evidence (generally means it must not be prejudicial and must be reliable).

The government can be viewed as mechanism of accountability, particularly from a provider to a purchaser. Thus, a task for regulation is to set norms which would help make that accountability process fair and effective, this is referred to as the mechanism.

A good accountability mechanism is beneficial in the following ways:

* It has impact on admissibility of evidence in court cases.

* it allows nonrepudiation (it means sufficient evidence exists such that a user can not defend an action).

* It enables encryption of the evidence. Encryption means is the process of encoding a message or information in such a way that only authorized parties can access it and unauthorized parties cannot.

Therefore, option A best suits the question, the impact that a good accountability mechanism has on on the admissibility of evidence in court cases is that it ENABLES THE ENCRYPTION OF THE EVIDENCE.

7 0
2 years ago
Other questions:
  • Gourmet Shop purchased cash registers on April 1 for $18,000. If this asset has an estimated useful life of five years, what is
    7·1 answer
  • Give an example of each of the manufacturing processes: Continuous Flow, Production Line, Batch, Job Shop and Fixed Position Lay
    15·1 answer
  • Land is purchased for​ $300,000. Back taxes paid by the purchaser were​ $8,500; total costs to demolish an existing building wer
    8·1 answer
  • Clem Corporation issues 1,000 shares of common stock for $25,000. Clem purchased equipment for $10,000 by borrowing from the ban
    6·1 answer
  • While living in her home country of Tanzania, Sophia Kiwanuka signed an employment contract with Anne Margareth Bakilana, a Tanz
    8·1 answer
  • ABC Company began its operations on March 31, 2019. Projected manufacturing overhead costs for the first three months of busines
    15·1 answer
  • The following is a December 31, 2021, post-closing trial balance for Almway Corporation.
    7·1 answer
  • What is the rule for reporting the revenues and expenses of a company that is acquired partway through a fiscal year in the cons
    15·1 answer
  • The discount method is a method for computing interest on an installment loan. With the discount method, you calculate the inter
    14·1 answer
  • 1. An engineer in 1950 was earning $6,000 a year. Today she earns $60,000 a year. However, on average goods today cost 6.6 times
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!