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Grace [21]
3 years ago
14

A company exchanged land and cash of $4,500 for similar land. The book value and the fair value of the land were $89,800 and $10

1,500, respectively. Assuming that the exchange has commercial substance, the company would record land-new and a gain/(loss) of: Land Gain/(loss) a.$106,000 $0 b.$106,000 $11,700 c.$94,300 $0 d.$94,300 $11,700
Business
1 answer:
ololo11 [35]3 years ago
5 0

Answer:

b.$106,000 $11,700

Explanation:

Given that

Fair value = $101,500

Land and cash = $4,500

Book value = $89,800

The computation of record land-new and a gain/(loss) is shown below:-

Record Land New = Fair Value + Land and cash

= $101,500 + $4,500

= $106,000

Gain (loss) = Fair Value - Book value

= $101,500 - $89,800

= $11,700

Therefore the record of land new is $106,000 and gain is $11,700

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The amount of underapplied manufacturing overhead at the end of the year is $1200.

Explanation:

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direct labour hours 45000 = $8x (Actual Dl hours) 47000

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Actual Overhead worked = $377,200 - $376,000

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Therefore, The amount of underapplied manufacturing overhead at the end of the year is $1200.

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The owner of a company that produces electronic circuit boards sees many competitors with extra capacity and says, "the only hop
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sales era

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<h3>What does withdrawing from a bank do?</h3>

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Find out more on required reserves at brainly.com/question/10684321.

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