Answer:
Specific performance
Explanation:
Based on the information provided within the question it can be said that in this scenario the order that Wally should seek is known as Specific performance. This is a court order which forces the breaching party to perform the agreed upon act, and by doing so complete the agreed upon specifications set forth by the contract. Failure to do so will find the individual in contempt of court.
Answer:
Calculation of Gain or Loss:
Book Value of Truck:
= 25,000 - 22,500
= $2,500
Gain on Exchange:
= 4,125 - 2,500 - 625
= $1,000
Therefore, the journal entry is as follows:
Accumulated Depreciation A/c Dr. $22,500
computer A/c Dr. $3,125
To Truck $25,000
To Cash $625
(To record the Truck)
Answer:
Amount to be paid annually by Ned Winslow = $8461.35
Explanation:
Fv = <u>A ( 1 + r)∧n - 1 </u>
r
90,000 = <u>A ( 1 + 0.08)∧8 - 1</u>
0.08
90,000 = <u>A ( 1.8509 - 1)</u>
0.08
90,000 = 10.6366A
A = 90,000/10.6366
= $8,461.35
Answer:
A)) interest expense from loans to purchase corporate bonds and interest expense from loans to purchase stocks.
Explanation:
An investment interest expense can be regarded as any amount of interest which is been paid on proceeds of loan that is been used in purchasing investments or securities. investment interest expense can be regarded as been deductible under some particular circumstances.
It should be noted that investment interest expense include;
✓interest expense from loans to purchase corporate bonds
✓ interest expense from loans to purchase stocks.
Have knowledge of basic math
