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
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
You might be interested in
A video game manufacturer is planning to market a new machine. The fixed costs are $550,000 and the variable costs are $120 per
tresset_1 [31]
Divide 550,000 by 140 and thats the amount need to break even, anything greater will earn $20 in profit per machine

6 0
3 years ago
Iss exercise 3 when the average person thinks of network security within a school they often think of the student trying to hack
Marina86 [1]
Eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee


eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
6 0
3 years ago
On November 1, Jasper Company loaned another company $100,000 at a 6.0% interest rate. The note receivable plus interest will no
allochka39001 [22]

Answer:

Explanation:

The journal entry is shown below:

Interest receivable A/c Dr $1,000

                     To Interest revenue A/c $1,000

(Being accrued interest is recorded)

The computation of accrued interest is presented below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $100,000 × 6% × (2 months ÷ 12 months)

= $1,000

The 2 months is calculated from November 1 to December 31

5 0
2 years ago
In the "Case Nugget," Ziva Jewelry Inc., v. Car Wash Headquarters Inc., the plaintiff left his car and keys with a car wash empl
Olenka [21]

Answer:

That the car wash was not liable to the plaintiff because the car wash employees had no notice they were taking responsibility for so much jewelry.

Explanation:

The case of Ziva Jewelry Inc., v. Car Wash Headquarters Inc involved a salesperson Stewart who locked jewellery in his car and took it to the car wash.

He did not disclose that there was expensive jewelry in the car.

The attendant finished washing the car and signalled to Stewart that his car was ready and walked away from the car.

Before Stewart could pay the bill someone had taken the car. Although the police recovered the car the jewellery was stolen.

Zeva Jewellry filed a motion against the car wash that they did not excercise due care in returning the vehicle.

In this instance the car wash was not liable because Stewart did not disclose there was expensive jewelry in the car.

Also the attendant had finished with his car and informed him of this. So it was out of their care when the car theft occured

3 0
2 years ago
What's the taxable equivalent yield on a municipal bond with a yield to maturity of 3.9 percent for an investor in the 35 percen
Nookie1986 [14]

When a person has a marginal tax bracket of 35%, their taxable equivalent yield to a municipal bond is 6%.

<h3>What is the taxable equivalent yield?</h3>

It can be found by the formula:

= Municipal bond / ( 1 + tax rate)

Solving gives:

= 3.9% / ( 1 - 35%)

= 3.9% / 0.65

= 6%

In conclusion, a 6% return would be an appropriate taxable equivalent yield.

Find out more on municipal bonds at brainly.com/question/25656290.

3 0
2 years ago
Other questions:
  • Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected
    12·2 answers
  • ________ refers to a process of negotiations between workers and managers.
    11·1 answer
  • Companies prefer that their working capital is a positive amount rather than a negative amount. True or false
    15·1 answer
  • SMITH FAMILY'S 2018 TAX SCENARIOJoseph L. Smith (age 45, Social Security number 145-26-9210) and Rita M. Smith (age 43, Social S
    10·1 answer
  • Governmental financial reporting should provide information to assist users in which situation?
    11·1 answer
  • To some people, speaking in public is not a stressor. <br><br> A. True B. False
    11·1 answer
  • Ceramic Customs Co. requires a specific type of ceramic to make custom-made tiles. Since only one supplier makes that particular
    10·1 answer
  • The base of an aquarium with given volume V is made of slate and the sides are made of glass. If the slate costs three times as
    5·1 answer
  • During recessions investment
    14·1 answer
  • Scarcity, opportunity cost, and marginal analysis Kyoko is training for a triathlon, a timed race that combines swimming, biking
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!