Answer:
$7,000
Explanation:
Data provided in the question:
Amount owed by Andrea on a medical bill to university hospital = $12,000
Amount by which the Andrea's debt exceeded her assets = $5,000
Now,
The debt forgiveness that Andrea will need to include in her gross income will be
= Amount owed on a medical bill - The amount by which debt exceeded assets
= $12,000 - $5,000
= $7,000
Answer:
$300
Explanation:
<u><em>From Equipment Account we get :</em></u>
Cost of Equipment Sold = $12,000 - $8,200 = $3,800
<u><em>From Accumulated Depreciation Account we get :</em></u>
Accumulated Depreciation = $2,200 + $1,200 - $2,700 = $700
<u><em>Using Amounts above to prepare a Disposal Account - Equipment we get :</em></u>
Cash Proceeds = $3,800 - $700 - $2,800 = $300
Conclusion
The selling price of the equipment $300
Answer:
B)
Explanation:
Because Ralph´s Recliners assigns the fixed costs to more quantity of recliners. Each one of the products charges less part of the fixed cost, compared with each one made by Lazy Guys. Then, the average total cost is lower.
Answer:
The best answer is "B"
To shift profit
Explanation:
Vertically integrated firms are firms that control more than one means through which it converts raw materials to finished products and get it to the consumer.
Transfer pricing is used to value the exchange of an asset or service two products of a vertically integrated firm. It is essentially use to shift profit.
