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Rufina [12.5K]
3 years ago
7

The amounts of money you can make on a college savings plan investment is dependent on

Business
1 answer:
Oliga [24]3 years ago
4 0

That would be the market performance of an investment.

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From march 1 to december 1 is how many months?
Ganezh [65]
The span of time is 9 months.
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2 years ago
Skysong Company purchased an electric wax melter on April 30, 2020, by trading in its old gas model and paying the balance in ca
adell [148]

Answer:

(a) has commercial substance

J1

Electric wax melter 5,720 (debit)

Accumulated depreciation :old gas model  6,930 (debit)

Old gas model : cost 12,320 (credit)

Profit on exchange of old gas model 320 (credit)

J2

Electric wax melter 11,000 (debit)

Cash 11,000 (debit)

(b) lacks commercial substance

J1

Electric wax melter 5,390 (debit)

Accumulated depreciation :old gas model  6,930 (debit)

Old gas model : cost 12,320 (credit)

J2

Electric wax melter 11,000 (debit)

Cash 11,000 (debit)

Explanation:

In terms of IAS 16, if an exchange of non-monetary item has commercial substance the Asset Acquired is measured at the Fair Value of Asset Given up or Fair Value of Asset Acquired.

However if an exchange of non-monetary item lacks commercial substance the Asset Acquired is measured at Carrying Amount of Asset Given up and there would no be any gain or loss on the exhange of asset given up.

(a) has commercial substance

J1

Electric wax melter 5,720 (debit)

Accumulated depreciation :old gas model  6,930 (debit)

Old gas model : cost 12,320 (credit)

Profit on exchange of old gas model 320 (credit)

J2

Electric wax melter 11,000 (debit)

Cash 11,000 (debit)

(b) lacks commercial substance

J1

Electric wax melter 5,390 (debit)

Accumulated depreciation :old gas model  6,930 (debit)

Old gas model : cost 12,320 (credit)

J2

Electric wax melter 11,000 (debit)

Cash 11,000 (debit)

5 0
3 years ago
What is one main feature of the free enterprise system?
SCORPION-xisa [38]

Answer:

People often use the terms free enterprise, free market, or capitalism to describe the economic system of the United States. A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition

Explanation:

People often use the terms free enterprise, free market, or capitalism to describe the economic system of the United States. A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition

3 0
3 years ago
Read 2 more answers
Morgan is moving to a new city. She should consider each of these factors when selecting a new financial institution, except ___
VikaD [51]
I don't think interest rates should matter, try that.
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3 years ago
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Read the statement.
White raven [17]

Answer

The answer would be A.

Explanation:

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