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nikklg [1K]
4 years ago
11

Maud exchanges a rental house at the beach with an adjusted basis of $225,000 and a fair market value of $200,000 for a rental h

ouse at the mountains with a fair market value of $180,000 and cash of $20,000. What is the recognized gain or loss?
Business
1 answer:
Troyanec [42]4 years ago
8 0

Answer:

$0.

Explanation:

It's between fair market value and adjusted basis.

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Kohl Co. provides warranties for many of its products. The January 1, 2013, balance of the Estimated Warranty Liability account
Dmitry [639]

Answer: $12,894.60

Explanation:

Warranty expense for 2013 will be calculated as:

= Actual warranty expense * Estimated warranty expense %

Actual warranty expense = Sales because these are the products under warranty.

Warranty expense is therefore:

= 2,149,100 * 0.60%

= $12,894.60

4 0
3 years ago
If the interest earned by a CD is compounded annually, which rule is most accurate when calculating how long it will take the mo
Gennadij [26K]
B.) Rule of 72; just had this question on Apex and was trying to find the answer but guessed since I couldn’t find it. Posting to save a life!
5 0
3 years ago
Read 2 more answers
PB8.
Maurinko [17]

Answer:

Products         Selling price   Unit variable cost

                                $                       $

Junior                     50                      15

Adult                       75                      25

Expert                     <u>110 </u>                   <u> 60</u>

Total                      <u> 235 </u>                  <u> 100</u>

The sales price per composite unit = $235

The contribution margin per composite unit

= Composite selling price - Composite unit variable cost  

= $235 - $100

= $135

Break-even point in units

= <u>Fixed cost</u>

  Contribution per unit

= <u>$114,750</u>

  $135

= 850 units

Break-even point in dollars

= Break-even point in units x Composite selling price

= 850 units x $235

= $199,750

                     Income Statement    

                                                               $

Total contribution ($135 x 850 units)   114,750

Less: Fixed cost                                     <u>114,750</u>

Net profit                                                   <u> 0</u>

                                                                                                                                                                             

Explanation:

Sales price per composite unit is the aggregate of all the selling prices.

Contribution margin per composite unit equals composite selling price minus composite unit variable cost.

Break-even point in units is fixed cost divided per composite contribution margin per unit.

Break-even point in dollars equal break-even point in units multiplied by selling price.

Income statement is prepared by deducting the total fixed cost from the total contribution.

4 0
3 years ago
if your in highschool, 17 and in 4 months turn 18, what is the best plan to get your credit up in order to be eligible to rent a
Reptile [31]
Start paying for your own bills and pay them on time, saving money helps as well. just really being responsible with your card helps your credit.
3 0
3 years ago
after a bank reconciliation is completed, journal entries are prepared for items in the balance per company's records as well as
BaLLatris [955]

'After a bank reconciliation is completed, journal entries are prepared for items in the balance per the company's records as well as items in the balance per bank statement.

This statement is False.

In accounting, bank reconciliation is the process of reconciling the bank account balances on a company's books with the balances reported by financial institutions in their most recent bank statements. You should check the difference between the two numbers and correct if necessary.

Bank reconciliation is the process of reconciling cash book data with corresponding data on bank statements. This is an important process for the CFO's office and ensures the accuracy of the accounting records.

Bank reconciliation is an important internal control tool and is necessary to prevent and detect fraud. It also helps identify accounting and banking errors by explaining the difference between cash balances on accounting records and bank balances on bank statements.

Learn more about Bank reconciliation brainly.com/question/15525383

#SPJ4

7 0
1 year ago
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