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Naddik [55]
3 years ago
14

  Which of the following business entities would allow you the most personal control?

Business
2 answers:
Gnesinka [82]3 years ago
7 0

Answer:

D

Explanation:

A landscaping business, of which you're the sole proprietor would allow you rhte most personal control.

Lyrx [107]3 years ago
3 0
Maybe D . not sure . correct me if im wrong. 
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Submit a well-written, one page response for each of the two questions.
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3 years ago
Vaughn Co. owns a machine that costs $48,000 with accumulated depreciation of $21,200. Vaughn exchanges the machine for a newer
Ghella [55]

Answer:

Requirement 1

Loss on Exchange $ 1,600 (debit)

New Model $58,000 (debit)

Accumulated Depreciation -Old Model $21,200 (debit)

Cost -Old Model $48,000 (credit)

Cash $32,800 (credit)

Requirement 2

Loss on Exchange 24,800 (debit)

New Model $26,800 (debit)

Accumulated Depreciation -Old Model $21,200 (debit)

Cost -Old Model $48,000 (credit)

Cash 24,800 (credit)

Explanation:

Note : the exchange lacks commercial substance.

IAS 16 gives an exception on the measurement of Cost of Acquired asset when the transaction lacks commercial substance.

The Acquired Asset will be Measured at Carrying Amount of Asset given up.Otherwise the Acquired Asset would be measured at Fair Value of Asset given up of Fair Value of Asset Acquired.

Carrying Amount of Asset Given up = Cost - Accumulated Depreciation

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3 years ago
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