An increase in the discount rate signals that the fed wants the money supply expanded.

Wolf Computer exchanged a machine with a book value of $40,000 and a fair value of $45,000 for a very similar machine. In additi

fgiga [73]

Answer:

gain of $5,000

Explanation:

Wolf's gain = fair market value - book value = $45,000 - $40,000 = $5,000

a company must determine the gain or loss of an exchange transaction using the asset's book value and comparing it against its fair market value. If the FMV is higher than the book value, the company will recognize a gain. If the FMV is lower than the book value, then the company will recognize a loss.

6 0

3 years ago

A contract in which the vendor (seller) agrees to convey the title to the real property after the vendee (buyer) has met certain

lubasha [3.4K]

The name of the contract is CALIFORNIA SALES CONTRACT AND CIVIL CODE. This contract is majorly used for purchase of lands in California. The conditions attached to the use of the contract has make it less attractive to people who desire to purchase landed properties in California.

8 0

3 years ago

The meaning of saving and investment Classify each of the following based on the macroeconomic definitions of saving and investm

kondor19780726 [428]

Answer:

All the options given are examples of investment.

Explanation:

Savings are what an individual has left after their spending has been deducted from their disposable income. Savings can increase income by investing the money saved. Investment is an item or asset gotten with aim of generating income. An investment simply means buying goods that are not for immediate consumption but generation of income.

All the options provided are investment examples. A certificate of deposit is given by the bank to an individual after a certain amount of money has been deposited and it generates interest. Also building a cabin , a laboratory and buying stock are investments.

3 0

3 years ago

Question 832 pts

Zigmanuir [339]

Statement of vash flow

5 0

3 years ago

What is the statute of limitations for transactions involving: a. Fraud (e.g., failure to file a tax return) b. Disallowance

san4es73 [151]

Answer:

The statute of limitations is as indicated for different cases:

a: Fraud: The statute of limitations remains open.

b:Disallowance of tax deduction items: The assessment is made within three years from the later date of tax filing or due date.

c: The omission of rental income that is equal to greater than 25% of the taxpayer's reported gross income: A six year statute of limitation is applicable.

Explanation:

The statute of Limitations for the following cases are

a. Fraud (e.g., failure to file a tax return)

In this case the statute of Limitations indicate that The statute of limitations remains open indefinitely if a fraudulent return is filed or if no return is filed at all.

b. Disallowance of tax deduction items

In this case the statute of Limitations indicate that The general rule for the disallowance of tax deduction items is that an assessment may be made against the taxpayer within three years from the later of the date the tax return was filed or its due date.

c:The omission of rental income that is equal to greater than 25% of the taxpayer's reported gross income

In this case the statute of Limitations indicate that A six year statute of limitations applies if the taxpayer omits an item of gross income that is in excess of 25% of the gross income that is reported on the return.

7 0

3 years ago