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Veronika [31]
3 years ago
6

Which of the following situations is most likely to change a buyer's market into a seller's market? A. A natural disaster that d

rives away a lot of the population. B. The price of building materials suddenly going up. C. The government buys up a lot of houses to build a new freeway. D. A factory laying off a lot of workers in the area.
Business
1 answer:
Dovator [93]3 years ago
3 0

Answer:

The price of building materials suddenly going up.- B.

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In January of 2018, the Phillips Company purchased a patent at a cost of $100,000. In addition, $10,000 in legal fees were paid
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The answer is: $113,000

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Can you wear weave with a Jheri curl ?
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6 0
3 years ago
Read 2 more answers
Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $15,000 (original cost of $34,000 l
Vesnalui [34]

Answer:

a. Gain on sale of land  = $230,000

b. Loss on the exchange of the tractor = $5,400

c-1. Gain on Exchange of the tractor = $5,000

c-2. Initial value of new tractor = $35,600

Explanation:

a. What is the amount of gain or loss that Kapono would recognize on the exchange of the land?

This can be determined as follows:

<u>Details                                       Amount $     </u>

Fair value of land                       760,000

Book value of land                   <u>(530,000) </u>

Gain (loss) on sale of land       <u> 230,000 </u>

b. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor?

This can be determined as follows:

<u>Details                                       Amount $     </u>

Original Cost of Tractor                34,000

Accumulated Depreciation         <u>(19,000)  </u>

Book Value of Tractor                <u>  15,000 </u>

Therefore, we have:

Loss on Exchange of the tractor = Fair value - Book Value of Tractor = $9,600 - $15,000 = $5,400

c. Assume the fair value of the old tractor is $20,000 instead of $9,600. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?

c-1. Calculation of the amount of gain or loss that Kapono would recognize on the exchange

From part b, we have:

Book Value of Tractor = $15,000

And, we have:

Fair Value = $20,000

Therefore, we have:

Gain on Exchange of the tractor = Fair value - Book Value of Tractor = $20,000 - $15,000 = $5,000

c-2. Calculation of the initial value of the new tractor

This can be determined as follows:

Initial value of new tractor = Fair Value of tractor given + Cash paid = $9,600 + $26,000 = $35,600

8 0
3 years ago
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