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Irina18 [472]
3 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]3 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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Suppose, you have $20,000 in your account. You receive a monthly
Setler [38]

Answer:

According to the data provided the opportunity costs is detailed below:

Initial Balance  $20,000

Monthly interst      $200

Investment             $500

________________________

The Opportunity cost is $500

Explanation:

The opportunity cost is the price you pay for not choosing best second alternative when you make a decision. In this case the person has three options:

1. Spending the money  

2. Save the money

3.     Invest the money

Once the money is spent the opportunity costs is generated and it is measured by the interest rate lost for not keeping the money in the investment that will generate an interest rate of $500 monthly.

3 0
3 years ago
Ramses Corporation produces a product that passes through two processes. During April, the first department transferred 19,000 u
hram777 [196]

Answer: See explanation

Explanation:

A. The number of units started in the second department during April will be the number of units that is transferred in from the first department. This will be

= 19000 units

B. The number of units completed in the second department during April will be:

= Beginning units + Started Unit - Ending units

= 4000 + 19000 - 5500

= 17500 units

C. The number of units started and completed in the second department during April will be:

= Completed units - units in beginning WIP

= 17500 – 4000

= 13500 units.

3 0
3 years ago
Curry Seasonings has a patented technology for finely grinding spices while maintaining flavor. This has allowed the company to
VLD [36.1K]

Answer:

<em>Run a recoverability test and then a fair value test.</em>

Explanation:

Business assets with a loss of value are subject to impairment tests to assess and identify the magnitude of the loss.

<em>Measuring the magnitude of the loss requires two steps:</em>

  • Performing a recoverability check is to decide whether an impairment loss occurred by determining whether the future value of the undiscounted cash flows of the asset is less than the asset's book value. If the cash flow is less than the value of the book, the loss will be assessed.
  • Measure the cost of damage by measuring the difference between the book value and the asset's market value.
4 0
3 years ago
Tony's marginal income tax rate is 24%, and he pays FICA tax on his entire salary (7.65%). Tony's employer offered him a choice
Vlad [161]

Answer: The fringe benefit is worth $182 more than the additional salary.

Explanation:

The Fringe benefit is valued at $3,600.

The additional salary after taxes is:

= 5,000 - (5,000 * 24%) - (5,000 * 7.65%)

= 5,000 - 1,200 - 382.5

= $3,418

The Fringe benefit is worth more than the salary by:

= 3,600 - 3,418

= $182

<em>Options are more probably for a variant of this question. </em>

8 0
3 years ago
Yummy Peanut Butter created a new​ coconut-flavored peanut butter that it tested in a small number of representative cities. The
Sati [7]

Answer:

B.

standard test markets

Explanation:

Standard test markets is when a set of representative cities are selected and the full marketing mix is tested in these areas before a new product launch. The new products are sold through their normal channels to simulate reality.

Yummy peanuts is testing its new coconut flavored peanut butter in a group of representative cities. Aimed at forecasting national sales and profit. This is use of standard test markets.

4 0
3 years ago
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