A US saving bond is an example of a short or long term investment

Lewis Company traded machinery with a book value of $950,000 and a fair value of $900,000. It received in exchange from Timmons

Komok [63]

Answer:

Lewis should recognize a gain on the exchane of $13,636

Explanation:

In order to calculate the amount of gain or loss should Lewis recognize on the exchange, first we have to determine the amount of gain with the followig formula:

Gain=Total value of the machine received-Book value of machine exchanged

=(cash received+fair value of machine received)- $950,000

=($100,000+$1,000,000)-$950,000

=$ 150,000

Next, In order to calculate the amount of gain or loss should Lewis recognize on the exchange we have to use the following formula:

recognize gain or loss=( <u> cash received )</u>× gain

cash received+fair value of equipment received

= (<u> $ 100,000 </u>)× 150,000

$100,000+$1,000,000

=$13,636

Lewis should recognize a gain on the exchane of $13,636

8 0

4 years ago

The collective term used to reer to the systems that are used to maintain the comort of an office environment and that are often

satela [25.4K]

The answer to your question is HVAC (heating, ventilation and air conditioning).

3 0

3 years ago

Read 2 more answers

Prepare summary journal entries to record the following transactions for a company in its first month of operations.

iragen [17]

Answer: The journal has been attached

Explanation:

The summary journal entries to record the following transactions for a company in its first month of operations has been attached.

Note that the work on process Inventory for (f) was calculated as the direct labor of 40000 multiplied by 125%. This will be:

= 40000 × 125%

= 40000 × 1.25

= 50000

4 0

3 years ago

Which of the following is a feature of high-level code

Deffense [45]

Answer:

feature

Explanation:

Easier to read, write and maintain as commands are similar to English. Allow access to module libraries. Use data types and data structures, selection statements and repetition/iteration constructs. Use logic operators and functions that are built into the language.

6 0

3 years ago

Where are the details of skills and qualities required for a post usually found? *

bija089 [108]

Answer:

Personal skills and qualities that employers look for in candidates for ... Overall, employers look for job candidates with strong personal skills because ... They are just as, if not more, important to employers, though you'll need a mix of both. ... two employees utilizing their information technology skills working on fixing a tech ...

Explanation:

8 0

3 years ago