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
zloy xaker [14]
3 years ago
9

Equipment that cost $660,000 and has accumulated depreciation of $300,000 is exchanged for equipment with a fair value of $480,0

00 and $120,000 cash is received. The exchange lacked commercial substance?What is the gain to be recognized?
Business
1 answer:
amid [387]3 years ago
7 0

Answer:

$240,000          

Explanation:

The computation of the gain to be recognized is shown below:

= Total Exchange value - net value

where,

Total exchange value equals to

= Fair value of equipment + cash received

= $480,000 + $120,000

=$600,000

And, the net value would be

= Estimated cost - accumulated depreciation

= $660,000 - $300,000

= $360,000

ow put these values to the above formula

So, the value would be equal to

= $600,000 - $360,000

= $240,000

You might be interested in
Malone Imports stock should return 12 percent in a boom, 10 percent in a normal economy, and 2 percent in a recession. The proba
Rufina [12.5K]

Answer:

6.11%

Explanation:

For computing the variance, first we have to determine the expected return which is shown below:

= (Expected return of the boom × weightage of boom) + (expected return of the normal economy × weightage of normal economy)  + (expected return of the recession × weightage of recession)

= (12% × 5%) + (10% × 85%)  + (2% × 10%)  

= 0.6% + 8.5% + 0.2%

= 9.30%

Now the variance would equal to the

= Weightage × (Return - Expected Return) ^2

For boom:

= 5% × (12% - 9.3%) ^2

= 0.3645

For normal economy:

= 85% × (10% - 9.3%) ^2

= 0.4165

For recession:

= 10% × (2% - 9.3%) ^2

= 5.329

So, the total variance would be

= 0.3645 + 0.4165 + 5.329

= 6.11%

4 0
3 years ago
Park & Company was recently formed with a $6,200 investment in the company by stockholders in exchange for common stock. The
KengaRu [80]

Answer:

a) $14,600.

Explanation:

The computation of the company total assets are shown below:

= Cash balance + supplies balance + equipment balance

where,

Cash balance =  investment amount + borrowed amount - paid amount for equipment

= $6,200 + $3,200 - $2,120

= $7,280

And, the other item values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $7,280 + $1,120 + $6,200

= $14,600

4 0
3 years ago
One key role of marketing is ______
andre [41]

Answer:

3. Looking outward by listening to customers

Explanation:

This particular role assist in retaining customers by creating new opportunities to win customer loyalty and business.

8 0
3 years ago
with a variety of different brands, marriott needs a clear ________ strategy to help provide customers with accommodations that
liubo4ka [24]

With a variety of different brands, Marriott needs a clear ________ strategy to help provide customers with accommodations that best meet their needs.

  • <u>Marketing</u>

According to the given question, Marriott needs a strategy that would best help her provide her customers with accommodation based on their different needs.

The best type of strategy that Marriott needs to undertake would be a marketing strategy.

This is because, when she starts to market to her customers, then she would be able to know their various needs and serve them based on those needs.

<u />

Therefore, the correct answer is marketing

<u />

Read more here:

brainly.com/question/21629547

8 0
3 years ago
Your coin collection contains 59 1952 silver dollars. required: if your grandparents purchased them for their face value when th
ololo11 [35]
The coins were purchased in 1952 for their face value, one dollar per coin. This puts total face value at 59 dollars in 1952. They appreciate at 6.6% per year, so in 101 years, their value can be found through this calculation: 59 x (1.066^101) = $37,525.78.
7 0
3 years ago
Other questions:
  • Majesty Productions accepted a $7,200, 120-day, 6% note from Swartz Studio on March 1. On the date the note matures, Swartz is u
    12·2 answers
  • Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
    8·1 answer
  • On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $44,000 and
    9·1 answer
  • The United States does not allow oranges from Brazil (the world's largest producer of oranges) to enter the United States. If Br
    15·1 answer
  • After the Communist Party took control, Beijing was transformed into a producer city. Growth in what sector of the economy put B
    14·1 answer
  • A traditional cover letter’s format includes an introduction, a and a paragraph.
    11·1 answer
  • Ms. Finkel has suggested that if given sufficient resources, she could redesign the production process to reduce the percentage
    14·1 answer
  • Within her company, maria utilizes a management style that varies according to the individual and environmental situation, with
    9·2 answers
  • How important is the value of a product for a customer
    8·2 answers
  • Please answer need help asap
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!