Examples of fast-moving consumer goods are ____

Oilers, Inc. refines and markets its energy products in different nations around the world. In addition, Oilers' stockholders an

enot [183]

I think it’s D or C but I’m not sure

4 0

4 years ago

Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $15,000 (original cost of $34,000 l

Vesnalui [34]

Answer:

a. Gain on sale of land = $230,000

b. Loss on the exchange of the tractor = $5,400

c-1. Gain on Exchange of the tractor = $5,000

c-2. Initial value of new tractor = $35,600

Explanation:

a. What is the amount of gain or loss that Kapono would recognize on the exchange of the land?

This can be determined as follows:

Details Amount $

Fair value of land 760,000

Book value of land (530,000)

Gain (loss) on sale of land 230,000

b. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor?

This can be determined as follows:

Details Amount $

Original Cost of Tractor 34,000

Accumulated Depreciation (19,000)

Book Value of Tractor 15,000

Therefore, we have:

Loss on Exchange of the tractor = Fair value - Book Value of Tractor = $9,600 - $15,000 = $5,400

c. Assume the fair value of the old tractor is $20,000 instead of $9,600. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?

c-1. Calculation of the amount of gain or loss that Kapono would recognize on the exchange

From part b, we have:

Book Value of Tractor = $15,000

And, we have:

Fair Value = $20,000

Therefore, we have:

Gain on Exchange of the tractor = Fair value - Book Value of Tractor = $20,000 - $15,000 = $5,000

c-2. Calculation of the initial value of the new tractor

This can be determined as follows:

Initial value of new tractor = Fair Value of tractor given + Cash paid = $9,600 + $26,000 = $35,600

8 0

3 years ago

RL Photography reported net income of $122,700 for 2014. Included in the income statement were depreciation expense of $7,730, p

jeka57 [31]

Answer:

$142,209

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $122,700

Adjustment made:

Add : Depreciation expense $7,730

Add: Patent amortization expense $4,908

Less: Gain on disposal of plant assets -$4,417

Add: Decrease in accounts receivable $7,362 ($25,767 - $33,129)

Add: Increase in accounts payable $3,926 ($11,288 - $7,362)

Total of Adjustments $19,509

Net Cash flow from Operating activities $142,209

6 0

3 years ago

real-time Incorporated considers purchase of a new machine that cost $40,000 and requires an increase in net operating working c

Tems11 [23]

Answer: $42,000

Explanation:

The Net investment required is the total amount that a company needs to initiate a project or acquire an asset.

Net investment at time 0 = Cost of machine + increase in net operating capital

= 40,000 + 2,000

= $42,000

4 0

3 years ago

A company has the following items on its year-end trial balance:Net sales $500‚000Common stock 100,000Insurance expense 75,000Wa

Debora [2.8K]

Answer:

C. $400,000

Explanation:

The computation of the gross profit is shown below:

Gross profit = Net Sales - costs of goods sold

= $500,000 - $100,000

= $400,000

For determining the gross profit, we deduct the costs of goods sold from the net sales, so that the true value can come. It is shown in the income statement

All other information which is given is not relevant. Hence, ignored it

4 0

3 years ago

Examples of fast-moving consumer goods are _____.