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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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miss Akunina [59]

Answer:

9.52%

Explanation:

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Risk free return = return on a risk free asset

Beta is a measure of the systematic risk.  

Risk premium = market rate of return - risk free rate

2.95% + (0.90 x 7.30%) = 9.52%

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The reason that the grand ma is recently widowed will make it likely that the person should treat her in a way that her feelings won't get hurt. The likely response for the given scenario above is to tell her that grand pa is probably doing that, in order for her to be happy and not to deny in a way that she is experiencing it because she longs for him and misses him.
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3 years ago
When a company lends cash to a customer who signs a promissory note: total assets decrease when the lending transaction occurs,
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2 years ago
On March 5, 2020, Northwest Co. purchased $400,000 in merchandise on account with credit terms of 1/15, n/45. Purchases were all
NikAS [45]

Answer:

Net amount paid = 391050

Explanation:

Accounts payable =395,000

Cash =391,050

Inventory =3,950

Accounts payable =396,000

Cash =396,000

Accounts payable =395,000

Purchase discount  =3,950

Cash =398,950

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Purchase discount =4,000

Accounts payable  = 395,000

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Gross amount due = Amount of purchase - return = 400000-5000 = 395000 will be debited to Accounts payable

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Disount will be = 1% of 395000 = 3950 which will be credited to inventory

Net amount paid will be credit to cash = 395000-3950 = 391050

5 0
3 years ago
Read 2 more answers
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