Is it easy to start or stop a mma investment

On January 2, 2015, Quick Delivery Company traded in an old delivery truck for a newer model. The exchange lacked commercial sub

fenix001 [56]

Answer:

$36,000

Explanation:

The first step is to calculate the fair value of the new truck

(List price-cash paid with trade)-(original cost -accumulated depreciation)

= (36,000-30,000)-(24,000-16,000)

= 6000-8000

= loss of $2000

Therefore the cost of the new truck for financial accounting purposes can be calculated as follows

(Original cost- accumulated depreciation)+cash paid with trade-loss

= (24,000-16,000)+30,000-2000

= 8,000 + 30,000 - 2,000

= 38,000-2,000

= $36,000

Hence the cost of the new truck for financial accounting purposes is $36,000

7 0

2 years ago

King Company issued bonds with a face amount of $1,600,000 in 2015. As of January 1, 2020, the balance in Discount on Bonds Paya

dangina [55]

Answer:

Dr Bonds payable 1,600,000

Dr Loss on redemption of bonds 36,800

Cr Cash 1,632,000

Cr Discount on bonds payable 4,800

Explanation:

Loss/gain on redemption of bonds = carrying value - cash paid = ($1,600,000 - $4,800) - $1,632,000 = $1,595,200 - $1,632,000 = -$36,800 loss

7 0

3 years ago

Areas that once had vast economic growth and large amounts of industry, but are now suffering from the effects of outsourcing ar

Irina-Kira [14]

Answer:

de-industrialization

Explanation:

Deindustrialization refers to the phase of social and economic event caused by the elimination or decrease of industrial base or operation in a region or country, in particular of manufacturing industries or mining. It's the reverse of being industrialised.

It is the opposite of industrialization. Deindustrialization usually happens as it is no longer profitable for a specific industrial activity. It's a phase in which industrial development is eliminated or decreased in a country or area due to a major social or economic transition.

7 0

3 years ago

Suppose that Jacob's assets include a motorcycle worth $12,000 and a checking account with a $3,000 balance, while his liabiliti

Sonbull [250]

Answer is A

Explanation:

7 0

2 years ago

The comparative balance sheets for 2021 and 2020 are given below for Surmise Company. Net income for 2021 was $88 million.

Alinara [238K]

It can be deduced that the cash flow shows that the net cash provided by operating activities will be $58 million.

<h3>How to compute the statement of cash flow</h3>

<u>Cash flow from operating activities</u>

Net income = $54 million

Add: Depreciation $15 million.

Add: Bad debt = $6 million

Add: Amortization expense = $3

<u>Changes in operating assets and liabilities</u>

Decrease in account receivable = $4 million

Increase in inventory = ($9 million)

Increase in prepaid expense = ($2 million)

Decrease in account payable = ($10 million)

Decrease in accrued liability = ($3 million)

Net cash provided by operating activities = $58 million

In conclusion, the net cash provided by operating activities is $58 million.

Learn more about cash flow on:

brainly.com/question/735261

8 0

1 year ago