The system described above refers to the Fixed Exchange Rate System.
<h3>What is the fixed exchange rate system?</h3>
The fixed exchange rate system is a term that refers to the exchange regime of a monetary unit whose value is adjusted according to the value of another reference currency such as the Dollar or the Euro.
According to the above, the currencies of different countries gain or lose value according to their change with respect to the reference currencies.
This system has become widespread in the world with the aim of facilitating trade and investment between countries with the reference currencies.
Learn more about currency in: brainly.com/question/13684639
Given; Equipment and building = $800,000Fair value of the land = $100,000Fair value of the building = $700,000Fair value of the equipment = $200,000
Solution;
$800,000 x [$100,000/($100,000 + $700,000 + $200,000)] = $80,000.
The company would record the land of $80,000
Answer:
a. Their AGI is $15,000, consisting of $5,000 of capital gains and $10,000 of wages.
- $0, SINCE INVESTMENT INCOME EXCEEDS $3,600
b. Their AGI is $15,000, consisting of $10,000 of lottery winnings (unearned income) and $5,000 of wages.
- $3,526, SINCE TOTAL EARNED INCOME AND AGI ARE LESS THAN $46,884
c. Their AGI is $25,000, consisting of $20,000 of wages and $5,000 of lottery winnings (unearned income).
- $3,526, SINCE TOTAL EARNED INCOME AND AGI ARE LESS THAN $46,884
d. Their AGI is $25,000, consisting of $5,000 of wages and $20,000 of lottery winnings (unearned income).
- $3,526, SINCE TOTAL EARNED INCOME AND AGI ARE LESS THAN $46,884
e. Their AGI is $10,000, consisting of $10,000 of lottery winnings (unearned income).
- $0, SINCE NO EARNED INCOME IS INCLUDED
Answer:
Option (D) is correct.
Explanation:
Given that,
Sales revenue = $32,0000
Accounts receivable = 50,000
Ending inventory = 100,000
Cost of goods sold = 250,000
Sales Returns = 20,000
Gross profit:
= Net sales revenue - Cost of goods sold
= (Sales revenue - Sales return) - Cost of goods sold
= ($320,000 - $20,000) - $250,000
= $300,000 - $250,000
= $50,000