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myrzilka [38]
3 years ago
11

Arlington LLC exchanged land used in its business for some new land. Arlington originally purchased the land for $28,000. The ne

w land had a fair market value of $35,000. Arlington also received $2,000 of office equipment in the transaction. What is Arlington's gain or loss recognized on the exchange?
Business
1 answer:
Nata [24]3 years ago
3 0

Answer:

The correct answer here is $2000.

Explanation:

Given information -

Original value of asset - $28,000

Fair market value - $35,000

Equipment received in exchange of transaction - $2000

For taking out the Arlington's gain or loss  on the exchange we will select the lesser of the f\given two, which are fair market value of equipment which is $2000 and other one is gain recognized by - $35,000 + $2000 - $28,0000 = $9000, so the lesser of the two is $2000.

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Suppose the following items were taken from the December 31, 2017, assets section of the Boeing Company balance sheet. (All doll
saul85 [17]

Answer:

Inventory $16,933

Notes receivable—due before December 31, 2018 368

Debt investments (short term) 2,008

Accounts receivable 5,785

Cash 9,215

Explanation:

Current Assets Section consists of Asset items that can be converted into cash within the period of 12 months.

Conversion happens in order of liquidity. Which means how much cash can be realized from conversion of a non-monetary asset in short term.

The order is given as <em>below</em>:

Inventory $16,933

Notes receivable—due before December 31, 2018 368

Debt investments (short term) 2,008

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6 0
3 years ago
Pedro's child attends a school operated by the church the family attends. Pedro made a donation of $1,000 to the church in lieu
schepotkina [342]

Answer:

$800

Explanation:

Pedro's tuition costs of $6,000 is a personal expense and does not qualify as a charitable contribution.

Pedro's donation to the church of $1,000 is charity, but he has to deduct the registration fee of $200 from it. Thus, his total charitable contribution is $1,000 - $200 = $800

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4 years ago
Joe is the new security manager and he is responsible for ensuring that each area within a building and outside of the building
omeli [17]

Answer: B Security Zones

Explanation:

7 0
4 years ago
Bargeron corporation has a target capital structure of 64 percent common stock, 9 percent preferred stock, and 27 percent debt.
dalvyx [7]

a.

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WACC = 10.46%

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After tax cost of debt = (1- tax rate) X cost of debt pre-tax

After tax cost of debt = ((1- 40%)*8.1%))

After tax cost of debt = 4.86%

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