People choose a particular lifestyle and social context, or _____, because it is compatible with their personality traits

Campbell Corp. exchanged delivery trucks with Highway, Inc. Campbell's truck originally cost $23,000, its accumulated depreciati

iragen [17]

Answer:

equipment 3,700

Explanation:

First we calcualte the values of the machine given up:

traded-out assets

purchased 23000

depreciation 20,000

book value 3,000

fair value 5,000

gain on disposal 2,000

This gain would be recognzie if there was commercial substance. In this case we don't have commercial substance. So it is deffered.

Value given up forthe new equipment:

cash 700

traded-out 5,000

total value 5,700

We subtract the deffered gain on disposal to get the accounting value for the new equipment:

deferred gain (2,000)

accounting value 3,700

The machine will enter the accounting with 3,700

journal entry

equipment 3,700

acc del 20,000

equipment 23,000

cash 700

3 0

3 years ago

Quarry Mining Inc. and Riverside Vineyards agree to resolve a dispute in arbitration. The arbitrator meets with Quarry’s represe

Molodets [167]

Answer:

The correct answer is letter "D": set aside any award.

Explanation:

Arbitrators are individuals without the range of judges that are called in disputes to resolve a matter before taking it to court. Similar to trials, each party involved in the dispute present their defense in front of the arbitrator who promotes the mutual agreement between the two parties but, if that does not happen, the arbitrator provides a resolution that tends to be definite.

Arbitrators must be impartial. Thus, if the arbitrator meets with one of the parties and, eventually, the decision of that case favors that party, the court can take away any reward provided until an investigation is conducted.

4 0

2 years ago

Country A is an extremely efficient producer of tin. However, its climate and terrain makes it difficult to produce corn. Accord

Advocard [28]

Answer:

Theory of comparative advantage states that a country has a comparative in a production of certain commodities if the opportunity cost of producing these commodities is lower than the other countries.

Here, it is given that country A is a efficient producer of tin and there are some difficulties in producing corn. So, country A have to concentrate on the production of Tin and purchase the corn from any other efficient producer.

7 0

2 years ago

1) A small firm employs nine workers. The wages it pays to these workers are $200, $220, $280, $300, $310, 320, $330, $350 and $

Stolb23 [73]

solution :

sum of dollar =200+220+280+300+310+320+330+

350+390

Now,

average =total sum of all dollar

total sum of worker

=2370

9

=263.333#

5 0

2 years ago

Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units wasâ $750. What is the jour

horsena [70]

Answer:

B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750

Explanation:

The journal entry to record this transaction is shown below:

Work-in-Process Inventory A/c - Department 2 $750

To Work-in-Process Inventory A/c - Department 1 $750

(Being the completed units are transferred)

For recording this transaction we debited the work in process department 2 and credited the work in process department 1

4 0

3 years ago