Answer:
The answer is: B) $24,000
Explanation:
This type of exchange is classified as a like-kind exchange (1031 exchange); it is a transaction that allows a company to dispose an asset and acquire another replacement asset without generating a tax liability from the sale of the replaced asset.
$40,000 (replacement asset) + $4,000 (cash paid) - $20,000 (replaced asset) = $24,000
Answer:
Hello There!!
Explanation:
The steps of agriculture include many things like preparation of soil,adding manure, fertilizers and harvesting.
hope this helps,have a great day!!
~Pinky~
Answer:
$17,900
Explanation:
= ($153,000-$5,900-(3070*45))*2
= ($153,000 - $5,900 - $138,150)*2
= ($8,950)*2
= $17,900 - increase in paid-in capital in excess of par
NB - When a company issues bonds, it incurs a long-term liability on which periodic interest payments must be made, usually twice a year.
Explanation:
The adjusting entry is shown below:
Supplies expense A/c Dr $5,130
To Supplies A/c $5,130
(Being supplies account is adjusted)
The supplies expense is computed below
= Purchase of supplied made - supplies still on hand
= $7,160 - $2,030
= $5,130
We simply debited the supplies expense account and credited the supplies account
