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Novay_Z [31]
3 years ago
8

Alamos Co. exchanged equipment and $18,000 cash for similar equipment. The book value and the fair value of the old equipment we

re $82,000 and $90,000, respectively. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) of: A. $26,000. B. $8,000. C. $(8,000). D. $0.
Business
1 answer:
Mila [183]3 years ago
4 0

Answer:

correct option is B. $8,000

Explanation:

given data

equipment = $18,000

book value = $82,000

fair value = $90,000

to find out

Alamos would record a gain/(loss)

solution

we know that When exchange have commercial substance we need to record the gain arising from transfer of old assets

so here Gain on transfer of old assets is

Gain on transfer of old assets =  fair value of the old equipment - book value of the old equipment     ................1

Gain on transfer of old assets =  $90,000 -  $82,000

Gain on transfer of old assets = $8,000

so here correct option is B. $8,000

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A small LTL shipment that originates on a truck in San Francisco and is moved from San Francisco to Las Vegas where it is unload
nikdorinn [45]

Answer:

False

Explanation:

Intermodal freight transport deals with the transportation of freight in an intermodal container or vehicle, using multiple different of transportation like ship, rail, and truck with no handling of any of the freight itself when changing

to different transport. Base on the scenario been described in the question, we can see that it false because it not does not mean the definition of intermodal freight

7 0
3 years ago
Most international business messages tend to be written in an informal, conversational manner. should be written following gener
Virty [35]

Answer:

should conform to the conventions of the receiver's country

Explanation:

The more an international business adapts its operations to the specific culture of the countries where it operates, the more likely it is that it will succeed, since customers are very sensitive to their own culture, and lacking this understanding can result in ineffective communication, and less sales.

For this reason, interantional business messages should conform to the conventions of the receiver's country: like this, people in the receiver country will not only understand the message clearly, but will also feel identified with it, raising their level of trust in the company.

6 0
3 years ago
View Policies Current Attempt in Progress Metlock, Inc. took a physical inventory on December 31 and determined that goods costi
monitta

Answer:

The amount should Metlock report as its December 31 inventory is $286,500.

Explanation:

Ending inventory = Phusical count + goods purchased in transit FOB shipping + cost of goods sold in transit FOB destination

                              = 230000 + 32000+ 24500

                             = $286,500

Therefore, The amount should Metlock report as its December 31 inventory is $286,500.

5 0
3 years ago
Aimee is a salaried nonexempt employee who earns an annual salary of $56,000 for a 43-hour workweek, paid biweekly. The employer
Alika [10]

Answer:

the compensatory time that would be received is 13.5 hours

Explanation:

The computation of the compensatory time that would be received is as follows:

Actual hours worked 95

Less: Regular working hours 86 (43 hours × 2)

Overtime hours worked 9

Now

Compensatory time 13.5 (9 hours × 1.5)

Hence, the compensatory time that would be received is 13.5 hours

7 0
3 years ago
Merone Company allocates materials handling cost to the company's two products using the below data:
wariber [46]

Answer:

d. $86,400.00

Explanation:

The computation of the  total materials handling cost allocated to the prefab barns is given below:

Total Materials Handling Cost is $228,300

Total is

= 6600 ×860 + 9600 × 360

= $5,676,000 + $3,456,000

= $9,132,000

Allocation Rate = Total Materials Handling Cost ÷ Total direct labor hours  

= $228,300 ÷ $9,132,000

= $0.025

Now

Total Materials Handling Cost allocated to prefab barns is

= Allocation Rate×  direct albor hours for Modular Homes

= $0.025 ×  $3,456,000

= $86,400

6 0
3 years ago
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