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VladimirAG [237]
3 years ago
9

Equipment that cost $660,000 and has accumulated depreciation of $300,000 is exchanged for equipment with a fair value of $480,0

00 and $120,000 cash is received. The exchange lacked commercial substance.
The gain to be recognized from the exchange is

A) 48,000

B) 60,000

C)180,000

D)240,000
Business
1 answer:
Dmitriy789 [7]3 years ago
8 0

Answer

A. 48.000

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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Explanation:

5 0
3 years ago
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Which of the following is the Federal Reserve unable to directly do
Alja [10]

Answer:

Increase and decrease the interest rate in the economy by a certain percentage

Explanation:

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The Federal Reserve can lend to commercial banks, Adjust reserve requirements, and buy and sell U.S. securities.

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3 years ago
g On June 30, the value of the account is 157.50. On December 31, the value of the account is X. Using the time weighted method,
irga5000 [103]

Answer:

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Explanation:

The computation of X is shown below:-

As per the time-weighted method

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4 0
3 years ago
Stephen Thublin invests $1,000,000 in a 45-day certificate of deposit with 6.55% interest. What is the total interest income fro
givi [52]

Answer:

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As the CD has a term of 45 days only the final interest paid is $8187

6 0
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Sidana [21]

Answer:

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Indeed, when using Word processing software like Microsoft word, it is possible to use the format text tool called line spacing to <em>increase or decrease the space around the text on a page.</em>

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