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
Lorico [155]
2 years ago
13

On December 31, Slugger Batting Cages Company decides to trade in one of its batting cages for another one that has a cost of $5

00,000. The seller of the batting cage is willing to allow a trade-in amount of $12,000. The initial cost of the old equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year. The difference will be paid in cash. What is the amount of boot in this transaction?
Business
1 answer:
torisob [31]2 years ago
4 0

Answer:

There is a loss of 18,000

Explanation:

In this question, we are asked to calculate the amount of boot in this transaction.

We proceed as follows;

We must identify that to buy one asset, we exchanged one asset with another

Mathematically;

loss or gain = asset given up - Discount received in exchange

From the question we identify the following;

value of asset given up = 225,000 - 195,000 = 30,000

Discount received in exchange = 12,000

Thus, loss or gain is

= 30,000 - 12,000

So, there's a loss of 18,000

You might be interested in
Which of the following statements is false? Multiple Choice The short run refers to a period of less than one year. In the long
Jet001 [13]

Answer:

The short run refers to a period of less than one year.

Explanation:

The statements is false that the short run refers to a period of less than one year.

The short run, long run and very long run are different time periods in economics.

<u>Short run – where one factor of production (e.g. capital) is fixed</u>.

long run – Where all factors of production are variable,

Unlike in accounting where operating period refer to a period of one year, <u> there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken.</u>

7 0
3 years ago
Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $89,000. However, the bu
gogolik [260]

Answer:

The correct option is D,$42,000

Explanation:

The balance on Maxwell capital account=market  value of building contributed less the mortgage on the building

market value of the building is $89,000

Mortgage on the building is $47,000

balance on Maxwell capital account=$89,000-$47,000

balance on Maxwell capital account=$42000

The correct option is D.

Care must taken so that one does include the cash of $38,000 contributed by Smart in Maxwell's capital account balance calculation,otherwise one would have concluded that option  E,$80,000($42,000+$38,000)

6 0
3 years ago
This problem has been solved!
velikii [3]

hey there!:

1)

a) Amount of credit the company would receive against the FUTA tax for its SUTA contributions = 2896.21

(56900*3.1%*90%)+(56900*(5.4%-3.1%)) = 2896.21

b)  Amount that Peroni Company would pay to the federal government for its FUTA tax = 517.79

(56900*6%)-2896.21 = 517.79

c) Amount that the company lost because of its late payments = 176.39

=517.79-(3414-1763.9-1308.7) = 176.39

Hope that helps!

4 0
3 years ago
The level at which individual is viewed by Society is called​
tatiyna

Answer:

The level at which an individual is viewed by society is called Social Status. ... It is the measure of worth or the position that the 'person holds in society'.

Explanation:

I hope this helps and pls mark me brainliest :)

5 0
3 years ago
Determine if the following situations describe a game or a decision. Indicate what specific features of the situation caused you
hammer [34]

Answer:

China chooses a level of tariffs to apply to American imports.

3 0
3 years ago
Other questions:
  • The following information is taken from the production budget for the first quarter: Beginning inventory in units 600 Sales budg
    6·1 answer
  • Which economic system supports government control of maior b
    13·1 answer
  • A recent study shows the benefits of using public transportation. Government officials have hired your consulting firm to increa
    14·1 answer
  • At the beginning of the accounting period, Nutrition Incorporated estimated that total fixed overhead cost would be $50,600 and
    12·1 answer
  • Uncertainties such as natural disasters are: Select one: a. Estimated liabilities because the amounts are uncertain. b. Not cont
    10·1 answer
  • The level of investment in markets often indicates the stability of the government. the state of the economy. the success of ind
    10·2 answers
  • What is one way that critical thinking can help in career exploration?
    6·2 answers
  • QUESTION 7 of 10: What aspect of your advertising is it vital to measure?
    10·1 answer
  • On August 24, Edward Charles offered to sell his 1967 Chevy Corvette Convertible for $150,000 to Mark Anderson. Anderson offered
    9·1 answer
  • If the sales volumes in the east and west regions had been reversed, what would be the company’s overall break-even point in uni
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!