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
Helen [10]
3 years ago
14

Equipment with an estimated market value of $55,000 is offered for sale at $75,000. The equipment is acquired for $20,000 in cas

h and a note payable of $40,000 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is ________.
Business
1 answer:
baherus [9]3 years ago
8 0

Answer:

The amount used in the buyer's accounting records to record this acquisition is $60,000.

Explanation:

Amount in the buyer's accounting records to record this acquisition = Cash paid + Note payable

= $20,000 + $40,000

= $60,000

Therefore, The amount used in the buyer's accounting records to record this acquisition is $60,000.

You might be interested in
PLZZZZZ HELP!! 20 POINTS!!
Sphinxa [80]

Answer:

i say B or D

Explanation:

out of all of them, the most reasonable would be the money you make from the partnership.

7 0
2 years ago
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.1. Cervi
Fofino [41]

Answer:

The entry to record the sales transactions and related taxes for Quartz Company would be as follows:

                Debit         Credit

Cash        $23,100

Sales                             $22,000

Sales taxes                   $1,100

Cash      $13,780

Sales                        $13,000

Sales taxes                $780

Explanation:

In order to prepare the entry to record the sales transactions for Quartz Company we would have to make the following calculation:

According to the given data On April 10, the register totals are sales $22,000 and sales taxes $1,100, hence, cash=$22,000 +$1,100=$23,100

Therefore, the entry to record the sales transactions for Quartz Company would be as follows:

       

                  Debit         Credit

Cash        $23,100

Sales                             $22,000

Sales taxes                   $1,100

In April 15 the cash is $13,780, which includes a 6% sales tax, therefore, the sales would be calculated as follows:

sales=$13,780/6%

sales=$13,000

hence, sales taxes=$780

The entry to record the sales transactions and related taxes for Quartz Company would be as follows:

Cash      $13,780

Sales                        $13,000

Sales taxes                $780

5 0
3 years ago
What is a depository institution?
Maslowich

A depository institution is a financial institution in the United States.

7 0
3 years ago
The rental income generated by a lease can depend significantly on the proportion of property-level operating expenses paid by t
yanalaym [24]

Answer:

4) Triple net lease

Explanation:

In a triple net lease (NNN lease), the tenant is responsible for all the expenses related to the leased property including property taxes, maintenance fees, reparations and property insurance. NNN leases are usually commercial leases only.

The landlord's disadvantage with a NNN lease is that the monthly lease payment tends to be lower since the tenant assumes all the costs related to the leased property. On the other hand, a NNN lease generally provides a stable cash flow, so its associated risk is lower.

4 0
3 years ago
Mary beth is a high school senior. She made $2000 this summer working at a part time job. She opened up a Roth IRA to begin savi
Rasek [7]

R: Aggressive

<u>Explanation:</u>

Aggressive development is a common store speculation target that looks for high capital increase potential among development stocks, which are loads of organizations that are required to develop at a rate quicker compared to the general financial exchange. Forceful putting implies putting more in high hazard resources than okay resources.  

<u>Development resources: </u>Growth resources are intended to develop your speculation. They incorporate speculations, for example, shares, elective ventures, and property. They will, in general, convey more elevated levels of hazard yet can possibly convey better yields over longer venture time allotments.

8 0
3 years ago
Other questions:
  • Companies that fail to install adequate safety equipment because they feel pressured not to cut into their profits commit a crim
    9·1 answer
  • Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 150 employees and occupies 44,000
    11·1 answer
  • A man buys a racehorse for ​$20 comma 00020,000 and enters it in two races. He plans to sell the horse​ afterward, hoping to mak
    11·1 answer
  • All of the following will occur if the government places an effective price ceiling on candy bars except:
    6·1 answer
  • Best Ever Toys just paid its annual dividend of $1.78 per share. The required return is 10.6 percent and the dividend growth rat
    9·1 answer
  • A major difference between high-assertiveness and low-assertiveness cultures is that people in low-assertiveness cultures tend t
    12·2 answers
  • Under rent control, bribery is a potential mechanism to:________
    9·1 answer
  • In the BCG Matrix, cash cows are: _____________
    11·1 answer
  • If the cpi was 240 in year 1 and 245.1 in year 2, what is the inflation rate between year 1 and year 2?
    15·1 answer
  • Kent and julie are recruiters for sunspree inc. when both of them interview the same applicant, they often find that they have d
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!