1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Arturiano [62]
3 years ago
13

Haley's Hamburger's has just completed an exchange of some of their long-term assets with Barry's Burgerlicious. Haley's receive

s a delivery truck and gives up a piece of machinery. The fair value and book value of the machinery were $31,000 and $24,000 (original cost of $35,000 less accumulated depreciation of $11,000), respectively. Since the delivery truck was worth $36,000, Haley's paid an additional $5,000 in cash to Barry's. Record this exchange for Haley's Hamburger's.
Business
1 answer:
Snezhnost [94]3 years ago
7 0

Answer:

Debit Delivery truck for $36,000

Debit Machinery acccumulated depreciatio for $11,000

Credit Machinery for $35,000

Credit Cash for $5,000

Credit Gains on disposal of Machinery for $7,000

Explanation:

The entries will be as follows in the book of Haley's Hamburger's

<u>Details                                                    Dr ($)             Cr ($)</u>

Delivery truck                                      36,000

Accumulated dep. - Machinery           11,000

Machinery                                                                  35,000

Cash                                                                             5,000

Gains on disposal of Machinery                               7,000

<em><u>To record an exchange of some long-term assets with Barry's Burgerlicious.</u></em>

You might be interested in
Equipment that cost $660,000 and has accumulated depreciation of $300,000 is exchanged for equipment with a fair value of $480,0
Dmitriy789 [7]

Answer

A. 48.000

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
8 0
3 years ago
If the reserve requirement is 25%, a new deposit of $1,000 leads to a potential increase in the money supply of
Nezavi [6.7K]

Based on the information given regarding the reserve requirements, there'll be an increase in the money supply by $4000.

A reserve requirement simply means a regulation by the Central Bank where commercial banks set a minimum amount that must be held in liquid assets.

Since the reserve requirement is 25%, a new deposit of $1,000 leads to a potential will lead to an increase in the money supply of $4000. This was calculated thus:

= $1000 / 25%

= $1000 / 0.25

= $4000

Learn more about money on:

brainly.com/question/24556197

5 0
2 years ago
WHOEVER ANSWERS THIS IN 2 MINS GETS BRAINLIEST!!
Travka [436]

Answer:

I answered this in your other question However... Different countries have different advertising/promotional laws. Plus you have no target market if you're creating a promotional message to use for all countries. Also, assuming if your promotional message inspired, say a person in Africa, a person in Russia, a person in China, and a person in Japan bought a product from your promotion, you would have to ship to all of those countries with extreme shipping rates.

4 0
3 years ago
The four types of entrepreneur described by Arthur Cole were the Innovator, the Organization Builder, the Over-Optimistic Promot
devlian [24]

The four types of entrepreneur described by Arthur Cole were the Innovator, the Organization Builder, the Over-Optimistic Promoter, and the Calculating Investor.

Answer is A) Investor.

6 0
3 years ago
Read 2 more answers
In calculating earnings per share, companies deduct preferred dividends from net income if:
Savatey [412]

Answer: Option B

Explanation: Earnings per share is calculated by dividing net income available to common shareholders with the weighted average number of shares.

Deduction of preferred dividends from net income is done only when dividends are declared by the entity, otherwise not. Preference shareholders have priority over common shareholders in case of dividends, so it will result in reduction of earnings to common shareholders but only when the dividends are declared and distributed.

7 0
3 years ago
Other questions:
  • Jane receives utility from days spent traveling on va- cation domestically (D) and days spent traveling on vacation in a foreign
    12·1 answer
  • ​________ is used to describe how changes in price affect a​ consumer's purchasing​ power, and​ ________ is used to describe how
    13·2 answers
  • Jake receives a promotion at his law firm after winning an important case. this is an example of a:
    12·1 answer
  • Nick left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is co
    6·1 answer
  • Some states have recently restructured (or are considering restructuring) their electricity industries to allow utilities to pur
    15·1 answer
  • Paul began his speech as follows: they called lou gehrig the iron horse. this tireless worker played an astounding 2,130 consecu
    9·1 answer
  • In an organizational setting, a _____ is a small number of people with complementary skills who work together for a common purpo
    13·1 answer
  • David Harper, the marketing manager of a large cosmetic company, observes that when the company decreases the price of its premi
    5·1 answer
  • Which of these factors contributes to the popularity of cable TV advertising?
    13·1 answer
  • A farmer uses two types of fertilizers. A 50-lb bag of Fertilizer A contains 10 lbs. of nitrogen, 2 lbs. of phosphorus, and 6 lb
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!