1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Wittaler [7]
3 years ago
6

Darla owns a dress shop called Darla's Darling Dresses. During the past year, Darla sold some assets to upgrade her facility. Sh

e sold racks and shelving units for $600 cash. In addition to the cash, the buyer gave two mannequins worth a total of $200 to Darla. The racks and shelving units had an original cost of $2,500 and had accumulated depreciation for tax purposes of $2,200. Darla's amount realized on the sale is $ and the adjusted basis in the assets sold is
Business
1 answer:
Alexxx [7]3 years ago
8 0

Answer:

Darla's amount realized on the sale is $800

Adjusted basis in the assets sold is $300

Producing a realized gain on the sale of $500

Explanation:

Amount realized = cash received + FMV of other property + buyer’s assumption of seller’s liabilities – seller’s expenses

Amount realized = 600 + 200 + 0 -0

= $800

Adjusted basis = initial basis – cost recovery deductions

Adjusted basis = 2500-2200 = $300

Gain or loss realized = amount realized – adjusted basis = 800-300

= $500

Therefore Darla's amount realized on the sale is $800 and the adjusted basis in the assets sold is $300, producing a realized gain on the sale of $500

You might be interested in
Accounts payable, end of year $ 5,643 $ 9,588 Accounts receivable, net, end of year 21,325 16,438 Inventory, end of year 7,944 7
JulsSmile [24]

Answer:

(1) We have:

Current year cash conversion cycle = 46.03 days

Previous year cash conversion cycle = 28.88 days

(2) The company did NOT manage cash more effectively in the current year.

Explanation:

Cash conversion cycle (CCC) can be described as a metric that is employed to show the length of time, in days, that a company takes to convert inventory and resources into cash flows. The CCC can be calculated using the following formula:

Cash conversion cycle = Days inventory outstanding + Days Sales Outstanding - Days payable outstanding ............ (1)

Where:

Days inventory outstanding = (Ending inventory / Cost of goods sold) * 365

Days Sales Outstanding = (Ending accounts receivable / Net sales) * 365

Days payable outstanding = (Ending accounts payable / Cost of goods sold) * 365

(1) Use the information above to compute the number of days in the cash conversion cycle for each year

Using equation (1) above, we have:

For the Current year, we have:

Days inventory outstanding = (7,944 / 112,000) * 365 = 25.89 days

Days Sales Outstanding = (21,325 / 202,000) * 365 = 38.53 days

Days payable outstanding = (5,643 / 112,000) * 365 = 18.39 days

Therefore, we have:

Current year cash conversion cycle = 25.89 + 38.53 - 18.39 = 46.03 days

For the Previous year, we have:

Days inventory outstanding = (7,175 / 125,000) * 365 = 20.95 days

Days Sales Outstanding = (16,438 / 167,000) * 365 = 35.93 days

Days payable outstanding = (9,588 / 125,000) * 365 = 28.00 days

Therefore, we have:

Previous year cash conversion cycle = 20.95 + 35.93 - 28.00 = 28.88 days

(2) Did the company manage cash more effectively in the current year

Since the Current year cash conversion cycle of 46.03 days is greater than the Previous year cash conversion cycle of 28.88 days, this indicates that the company did NOT manage cash more effectively in the current year.

3 0
3 years ago
If the united states placed an embargo on swedish products, what would happen in the u.s. market for swedish furniture
olga nikolaevna [1]
An embargo<span> (from the </span>Spanish embargo, meaning hindrance, obstruction, etc. in a general sense, a trading ban in trade terminology and literally "distraint" in juridic parlance) is the partial or complete prohibition of commerce and trade with a particular country or a group of countries.<span> Embargoes are considered strong diplomatic measures imposed in an effort, by the imposing country, to elicit a given national-interest result from the country on which it is imposed. Embargoes are similar to </span>economic sanctions<span> and are generally considered legal barriers to trade, not to be confused with </span>blockades<span>, which are often considered to be acts of </span>war<span>.

</span><span>in the u.s. market for swedish furniture, </span>The supply curve would shift to the left.
8 0
3 years ago
Drag the tiles to the boxes to form correct pairs.
Arada [10]

Answer:

WWW = indicates that the website  the World Wide Web

Domain Name= indicates the type of organization  that the website belongs to

Resource ID = indicates where the file resides  on a web server

Server Name= indicates name of the server  that hosts the website

Explanation:

8 0
3 years ago
True or false most small business owners enjoy being part of a team
Mandarinka [93]
I believe the answer is false
4 0
3 years ago
Write merits of one dimensional diagrams ?​
Usimov [2.4K]

Answer:

(i) They are readily understood even by those unaccustomed to reading charts or those who are not chart-minded.

(ii) They posses the outstanding advantage that they are the simplest and the easiest to make.

(iii) When a large number of items are to be compared they are the only form that can be used effectively.

7 0
2 years ago
Read 2 more answers
Other questions:
  • When dealing with insurance what is a premium
    5·1 answer
  • When a perfectly competitive firm is in long-run equilibrium, the firm is:
    14·1 answer
  • Prepare a bank reconciliation for Show Me, Inc., as of June 30 from the following information:
    11·1 answer
  • Beginning inventory amounted to 1,000 units. This period, 4,200 units were started and completed. At the end of the period, the
    6·1 answer
  • The Square Box is considering two independent projects, both of which have an initial cost of $18,000. The cash inflows of Proje
    5·1 answer
  • You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and on
    9·1 answer
  • Sarah has investments in four passive activity partnerships purchased several years ago. Last year the income and losses were as
    13·1 answer
  • Which of the following accurately describes a capital gain?
    15·1 answer
  • C'est quoi une stratégie
    14·1 answer
  • The open systems model of ob assumes that ________. organizations exist in a vacuum organizations are contingent organizations a
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!