Answer: C : They will need to subtract a partial year of depreciation from the book value of the second truck but not the first truck.
Explanation:
When disposing of fixed assets such as vehicles, depreciation has to be charged on them to see their Net Book Value.
Companies usually depreciate their vehicles on a yearly basis in accordance with the end of their fiscal year. This company therefore most likely depreciates on December 31.
The first truck is sold 2 days after this Depreciation so there is no need to add more depreciation to it.
However the second truck on the other hand was sold 6 months later. Depreciation needs to charged on this substantial period but since it was not for the full year, a partial one needs to be charged.
Answer:
d. $250,000.
Explanation:
In order to calculate the expense of the goodwill, we must first calculate the net asset's fair value shown below:
The fair value of net asset = The fair market value of total assets - the fair market value of liabilities
= $125,000 + $750,000 - $175,000
= $700,000
And, the purchase value of all outstanding stocks is $950,000
So, the goodwill would be
= $950,000 - $700,000
= $250,000
Foster and Johnston evenly split the cost of bat removal
Answer: Option (B) is correct
<u>Explanation:</u>
Even splitting of bat removal cost will divide the burden equally between Foster and Johnston. Since the cost of bat removal is very high. If The burden falls on a single town then it will take it as a burden and will not contribute.
But equal participation from both the towns will ease the task and matter will be solved quickly. This will help in the removal of bats otherwise this matter will not be resolved.
Answer:
c. the political environment
Explanation:
The executive summary is a section a business plan usually contained in the first set of pages that gives a brief and concise overview of what the document contains by summarizing its main parts and points. In this case, it is a marketing plan so the executive summary would provide a concise overview of the marketing plan
Answer:
The correct answer is letter "A": Felipe is the owner of the deposits because they became his personal property upon quarry.
Explanation:
In real estate, the chain of title is the document where all the legal owners of a property are registered. This document also includes information if there are minerals below the surface and to whom they belong in case of the purchase of the property. If in the sale contract that information is not specified and there is no clause denying the ownership of minerals to the buyer if found any, the seller is not necessarily the owner of those minerals.
Therefore, if the purchaser quarries minerals found below the surface of property bought, the minerals would belong to the purchaser upon extraction since they became personal property.
