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timurjin [86]
3 years ago
11

Russell Corporation sold a parcel of land valued at $440,000. Its basis in the land was $294,800. For the land, Russell received

$121,500 in cash in year 0 and a note providing that Russell will receive $229,000 in year 1 and $89,500 in year 2 from the buyer (plus reasonable interest on the note). (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)
a. What is Russell’s realized gain on the transaction?

b. What is Russell’s recognized gain in year 0, year 1, and year 2?

Year 0
Year 1
Year 2

Business
1 answer:
WITCHER [35]3 years ago
6 0

Answer:

Please see attachment

Explanation:

Please see attachment

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Wanda is faced with an ethical dilemma. She knows her supervisor, the CFO, wants to accelerate the recoding of revenue to an ear
jolli1 [7]

Answer:

Wanda is most likely to refuse.

Explanation:

The stage 4 of Kohlberg's Moral Development Model is defined as the Law and Order Orientation Stage, in which doing what is dutiful is paramount. If Wanda accepted his supervisor's demands, she would be breaking a law (the GAAP), and this act would therefore go against what the Kohlberg's model proposes. She will most likely respect the law despite the conquesequences that this might have on her personal life (for example, being fired).

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3 years ago
Documentation is necessary to establish educational accommodations. true or false​
Karolina [17]

Answer:

True

Explanation:

6 0
3 years ago
Karley's setting aside $32,000 each quarter, starting today, for the next three years for an expansion project. How much money w
Mashutka [201]

Answer:

Final Value= $414,135.43

Explanation:

Giving the following information:

Quarterly deposit= $32,000

Number of quarters= 3*4= 12

Interest rate= 0.0545/4= 0.01363

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

FV= {32,000*[(1.01363^12)-1]} / 0.01363

FV= $414,135.43

8 0
3 years ago
You, being a supplier of steak dinners, opened your steak house. Assume the market-clearing price is $20 and the market clearing
Shalnov [3]

Answer:

A) Shortage, B) Fall in Price

Explanation:

A] Market is at equilibrium where - downward sloping Market Demand (inversely related to price), & upward sloping Market Supply (directly related to price) - are equal &  these curves intersect each other.

Above condition gives us equilibrium price & quantity.

If market price < equilibrium price, as given case 15 < 20. Then, supply being directly related to price is lesser, demand being inversely related to price is higher. So, there is a situation of excess demand, ie <u>shortage </u>(graphically denoted by distance between demand & supply curve at actual price below equilibrium price)

B] Dealers of hybrid vehicles increase imply increase in supply of these vehicles, rightwards shift in the supply curve. This creates excess supply ie surplus of them. It implies that competition among sellers lead to <u>fall in price </u>of these hybrid vehicles.

7 0
3 years ago
On January 1, Year 2, the Arlington Company had 100,000 shares of common stock issued and outstanding. On July 1, Year 2, the co
Dennis_Churaev [7]

Answer:

The correct answer is 137,500 Shares.

Explanation:

According to the scenario, the computation of the given data are as follows:

Time period  Jan.1 - Jul.1 = 6 months

So, first we calculate the weighted average before dividend.

Weighted average before dividend shares outstanding = (100,000 × 6 ÷ 12) + (120,000 × 6 ÷ 12)

= 50,000 + 60,000 = 110,000

Now we can calculate the weighted-average number of common shares outstanding during Year 2 by using following formula:

Weighted-average number of common shares outstanding = Weighted average before dividend shares outstanding + Dividend on outstanding Shares

By putting the value we get,

= 110,000 + 25% × 110,000

= 110,000 + 27,500

= 137,500 Shares

6 0
3 years ago
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