Answer:
homework sucks, like, really
Explanation:
Book Value Of Asset
Book Value of Assets is the asset's value in the books of records of a company or an institution at any given instance.
Assets Book Value Formula = Total Value of an Asset – Depreciation – Other Expenses
Book Value Of Asset is
and the fair value of asset exchanged is
As there is a change in the value, this substance exists in the transaction.
Commercial substance exists in business transactions where the outcome is anticipated to change the company's cash flows in the future and is considered only when there is a significant alteration in the risk of cash inflow, the timing of cash inflow, and the amount paid as a result of the transaction.
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He knew the purchase will prevent him from using the money and better ways
Answer:
a.$5 per direct labor hour
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $100,000 ÷ 20,000 direct labor hours
= $5 per direct labor hour
Simply we divide the total estimated manufacturing overhead by the estimated direct labor hours so that the correct rate can come
All other information which is given is not relevant. Hence, ignored it
Answer:
The answer is : C. Investment overstated; retained earnings overstated
Explanation:
Under the equity method of accounting, Fey Corporation should record the correct entry as below:
Dr Equity Investment 16,800
Cr Equity Income 16,800
Dr Cash 5,400
Cr Equity Investment 5,400
As a result, Investment account has been overstated by $5,400 while Dividend Revenue account has been overstated by $5,400. The overstating in Dividend Revenue will subsequently result to the overstating in Retained Earnings account through closing entry.
So, C. Investment overstated; retained earnings overstated is the correct answer.