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Irina18 [472]
4 years ago
15

Cindy's Ceramics engaged in a like-kind exchange that resulted in a $3,000 gain. In addition to the like-kind property received

in the transaction, Cindy also received $5,000 cash. Cindy will have to recognize $
Business
1 answer:
Vika [28.1K]4 years ago
7 0

Answer:

$3,000

Explanation:

Data provided in the question

Gain received while exchanged = $3,000

Received cash = $5,000

Based on the above information, the Cindy recognize the gain i.e $3,000 which is received while exchanged it

Therefore in the given case, the Cindy have to recognize the gain for $3,000

The cash amount received should be ignored

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Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25%
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Answer:

$36,230

Explanation:

Month 1              Month 2               Month 3                 Month 4

60,000               70,000                50,000                  30,000

Calculation for receipts in Month 4:

9000   30% cash  in the same month(30000*30%)

12600   60% credit in the same month (30000*70%*60%

8750   25% in month following sales (50000*70%*25%)

<u>5880</u>   12% second month following sales (70000*70%*12%)

<em>36,230</em>

<em></em>

<em>I hope I made myself clear buddy.</em>

<em>Best of Luck.</em>

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3 years ago
If Sara just reconciled her checking account, what did she do?
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A vendor sets up a stall outside of a major video game exposition. He sells products (mostly t-shirts) representing various popu
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Answer:

trademark

Explanation:

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A source document that an employee uses to report how much time was spent working on a job or on overhead activities and that is
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Answer:

Time ticket

Explanation:

A source document that an employee uses to report how much time was spent working on a job or on overhead activities and that is used to determine the amount of direct labor to charge to the job or to determine the amount of indirect labor to charge to factory overhead is called a: time ticket.

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kicyunya [14]

Answer:

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Supporters of free trade area argue that it is beneficial to the country based on the trade creation argument. Trade creation is where high-cost domestic production is replaced by more efficiently produced imports from within the group; that is, more expensive domestic products are replaced by lower priced imports from countries within the group. The trade creation argument is hinged on the fact that a free trade area ensures that trade is generated over and above what would otherwise have happened if there was no integration. Further, the removal of tariffs allows members to specialize in those products for which they have a comparative advantage leading to a variety of cheap imports for domestic consumers, thereby increasing living standards or welfare gains. Trade creation also creates an incentive for high cost domestic producers to cut cost so as to remain competitive thereby enhancing efficiency.

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Explanation:

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3 years ago
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