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Minchanka [31]
1 year ago
6

On January 1, 20X7, Server Company purchased a machine with an expected economic life of five years. On January 1, 20X9, Server

sold the machine to Patron Corporation and recorded the following entry: Cash 45,000 Accumulated Depreciation 28,000 Machine 70,000 Gain on Sale of Equipment 3,000 Patron Corporation holds 75 percent of Server's voting shares. Server reported net income of $50,000, and Patron reported income from its own operations of $100,000 for 20X9. There is no change in the estimated economic life of the equipment as a result of the intercorporate transfer. Based on the preceding information, in the preparation of the 20X9 consolidated balance sheet, machine will be:
Business
1 answer:
djverab [1.8K]1 year ago
4 0

Based on the information given for Server Company, the machine will be valued a<u>t $42,000 </u>and the machinery account will be credited.

<h3>What would be the value of the machine?</h3>

The machine was sold on January 1, 20X9 and at that point, the accumulated depreciation was $28,000.

The value of the machine was therefore:

= Cost of machine - Accumulated depreciation

= 70,000 - 28,000

= $42,000

Find out more on accumulated depreciation at brainly.com/question/1287985.

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Define working capital. How is working capital computed?
Phoenix [80]

Working capital is calculated by subtracting current liabilities from current assets shown on a company's balance sheet. Current assets include cash, accounts receivable and inventories. Current liabilities include accounts payable, taxes, wages and accrued interest.

Working capital is calculated by subtracting current assets from a company's current liabilities. For example, if a company has current assets of $100,000 and current liabilities of $80,000, its working capital is $20,000.

To calculate the working capital requirement, the following formula can be used: Working Capital (WC) = Current Assets (CA) – Current Assets (CL).

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8 0
1 year ago
Advertisements that feature promotions such as buy-one-get-one-free offers essentially signal that customers will get value in s
asambeis [7]

Answer:

<em>a. discriminative stimuli. </em>

Explanation:

Discriminative stimulus is a concept used as a step in the process recognized as operant conditioning in classical conditioning.

A discriminative stimulus is a form of stimulation which is regularly used to elicit a particular response and increases the likelihood of the intended response.

6 0
2 years ago
Halestorm Corporation’s common stock has a beta of 1.20. Assume the risk-free rate is 4.5 percent and the expected return on the
Lemur [1.5K]

Answer:

Ke = Rf  + β(Rm – Rf)

Ke = 4.5 + 1.20(12-4.5)

Ke = 4.5 + 9

Ke = 13.5%

Explanation:

Cost of equity is equal to risk-free rate plus market risk premium. Market risk premium is beta multiplied by risk premium. Risk premium is market return minus risk-free rate.

8 0
3 years ago
T. Dole invests cash and land into an existing partnership. The cash invested is $30,000 and the land has a fair market value of
bekas [8.4K]

The journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $90,000.

<h3>What journal entries?</h3>
  • A journal entry is an act of keeping or producing records of any economic or non-economic transaction.
  • An accounting journal, which shows a company's debit and credit balances, records transactions.
  • The journal entry can be made up of multiple records, each of which is either a debit or a credit.
  • Otherwise, the journal entry is termed unbalanced if the sum of the debits does not equal the total of the credits.

So, the journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of cash invested, and the fair market value.

30,000 + 60,000 = $90,000

Therefore, the journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $90,000.

Know more about journal entries here:

brainly.com/question/14279491

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The complete question:

T. Dole invests cash and land into an existing partnership. The cash invested is $30,000 and the land has a fair market value of $60,000. The journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $ ______.

7 0
1 year ago
1. Understanding opportunity costYou work as an assistant coach on the university basketball team and earn $15 per hour. One day
Gwar [14]

Answer:

The correct answer is letter "D": $24.

Explanation:

Opportunity cost can be defined as the cost of the best next available option after taking another decision in regards to a situation. It is also the return that the chosen option provides compared to the return that could have provided the option that was forgone.

In this case, choosing to go to the local carnival will represent losing one hour of working as a coach assistant ($15). Besides, as there is a $9 admission fee to the carnival, you will need to spend that money. Thus, the total opportunity cost of going to the carnival instead of working is $24 (<em>$15+$9=$24</em>).

6 0
2 years ago
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