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AveGali [126]
3 years ago
12

Texarkana Company exchanged equipment that cost $85,000 and has accumulated depreciation of $29,800 and a fair value of $60,000.

It receives in exchange an equipment with a fair value of $48,000 and received $12,000 cash. The exchange lacks commercial substance. The gain to be recognized from the exchange is __________.
Business
1 answer:
viva [34]3 years ago
4 0

Answer:

$4,800

Explanation:

Data provided in the question:

Cost = $66,000

Accumulated depreciation = $30,000

Book value = Cost - Accumulated depreciation

= $66,000 - $30,000

= $36,000

Now,

Fair value = $48,000 + $12,000

= $60,000

Thus,

Gain = $60,000 - $36,000

= $24,000

Therefore,

Gain to be recognized = $24,000 × [ 12,000 ÷ 60,000 ]

= $4,800

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What was a new deal program established to relieve unemployment during the great depression by providing national conservation w
allsm [11]

Hello there!

Your answer would be the <u>Civilian Conservation Corps (CCC).</u>

The reason why the Civilian Conservation Corps would be your answer is because this was one of the earliest programs in the new deal that focused to relieve unemployment ratings for young unmarried men. This program was originally for men of ages 18-25, but then moved to 17-28. This program was in operation from 1933 to 1942, and did a ton of work during that time period to get young men back on their feet and working again. This programs was founded by President Franklin D. Roosevelt, the president that brought up the new deal plan and put it into action.

In this program, they had many projects for the young men to do. In the projects, they had the men:

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This program pretty much did whatever they can to get the men to stop thinking about what's going on with them financially because of the great depression. The program provided labor jobs to the men so they could get back to working and make money, this is specifically talking about the people who had trouble finding jobs during the great depression. At the end up the day, this program costed someone $30 a month for clothing, shelter, and food.

7 0
3 years ago
Keeping track of what you earn, spend, and save are the key parts of a ______________.
mrs_skeptik [129]

Answer:

Budget

Explanation:

4 0
3 years ago
Read 2 more answers
If you save $20 a month for 12 months how much have you saved?
Gnom [1K]

Answer: $240

Explanation:

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8 0
3 years ago
Rhine Company sets price equal to cost plus 40%. Recently, Rhine charged a customer a price of $280 for an item.
yan [13]

Answer:

Option (C) is correct.

Explanation:

Given that,

Price of an item charged by the Rhine company = $280

Rhine company sets price = Cost + 40% of cost

Let the cost of an item to Rhine be x,

Hence,

Price = x + 40%(x)

$280 = x + 0.4x

$280 = 1.4x

x = $280 ÷ 1.4

  = $200

Profit for Rhine = Price - cost

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                         = $80

Therefore, the cost of the item to Rhine is $200.

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3 years ago
How does the economic boom affect a business or your business?
shepuryov [24]

Answer:

The answer is easy and simple to understand.

First of all, it ill be generally good for your business, price levels of materials required and services will remain at a reasonable level so you can afford them.

Moreover, the cost of financing will be bearable and low. Since the interest rates are low, more money can be borrowed to expand your business venture.

Economic book means more employment opportunities, and as the supply of labor increases. the cost or the wage rate can remain at a reasonable and fair level for both the employers and employees.

The currency exchange rates will be stable and will not deviate heavily during the economic boom period, making importing and importing fairly easy for your business.

However, since the economy is rigorous and healthy, more entrepreneurs will enter the market and the competition will  be sever.

Moreover, foreign investors and businesses with new technologies, products and practices may enter your market, making it a bit difficult for you.

Explanation:

4 0
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