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vlada-n [284]
3 years ago
8

On october 22, 2016, leahy corp. sold land to heller co., its non-wholly owned subsidiary. the land cost $122,000 and was sold t

o heller for $197,000. from the perspective of the combination, when is the gain on the sale of the land realized?
a. proportionately over a designated period of years
b. when heller co. sells the land to a third party
c. no gain can be recognized
d. as heller uses the land
Business
1 answer:
Sveta_85 [38]3 years ago
6 0
In this situation the answer is B. When Heller Co. sells the land to a third party. Capital gain is any money made (gained) off of a sale from an investment. Once Heller Co. sells the land the gain of the sale will be realized. 
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Keenan has won the lottery for $10,000,000. He is offered a cash payment now of $7,500,000, or 10 annual payments of $1,000,000.
Katarina [22]

Answer:

a) 5,6%

b)$16 191 937.48

Explanation:

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7 0
3 years ago
Indicate whether the above items should be disclosed (A) in the summary of significant accounting policies note, (B) in a separa
Drupady [299]

Answer:

(A) in the summary of significant accounting policies.

Explanation:

It has the company's financial statements and also describes the key policies that are being followed by the accounting department. This policy summary is mandated by the accounting framework like IFRS or GAAP.

6 0
3 years ago
An internal control system consists of all policies and procedures used to protect assets, ensure reliable accounting, promote e
GenaCL600 [577]

Answer:

Explanation:

1. True

Separation of record keeping for assets from custody over assets in custody over assets reduces theft and fraud . except in a case of collusion.

Fraud and theft of assets can be easily perpetrated and covered up when an individual combines the role.

2. False

Internal control focuses more on the internal operation of an organization rather than the external. Even though it can still be of impact in checking the excesses of external parties like the government agencies , but that is not its primary objective

3.True

Internal control's main objectives can be best accomplished when there is an operational system with managerial policies that protect waste , fraud and theft , being the major factors targeted to control

4.False

Separating the responsibility for a transaction between two or more individuals or departments is a major way of preventing creation of fictitious invoices and payment as it could have easily be detected if different individuals are involved in approval and payment of invoices.

7 0
3 years ago
Which of the following are ways to develop a better social network:
Alex

Answer:

The ways to develop a better social network is to:

C. Maximize homophily

D. Invest in relationships that extend your expertise

E. Develop connections with powerful others

Explanation:

Maximizing homophily refers to the tendency to have positive ties with individuals who are similar in socially significant ways. Engaging regularly or hanging out with your kind is a good way to develop better social network.

Investing in relationships that extends your expertise is a proactive way of breaking new grounds and connecting with people that are ahead of you in a cordial manner. More like a mentor-mentee approach.

Developing connections with powerful others opens up the gate to the elite social community which will deepen your social network.

7 0
3 years ago
A firm has $76,000,000 in debt, which accounts for 43% of their total funds raised; the after-tax cost of these funds is 6.10%.
Digiron [165]

11.55% is the weighted average cost of capital for these funds

Explanation:

Firm has 76000000 in debt and 100000000 in equity. Thus the proportion of debt =

             = 76000000/(76000000 + 100000000)

             = 43.18%

and proportion of equity =  1 - 43.18%  = 56.82%

Therefore, WACC =  0.4318 * 6.1 + 0.5682 * 15.7

                               = 11.55%

7 0
3 years ago
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