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
frosja888 [35]
2 years ago
9

Stiller Company, an 80% owned subsidiary of Leo Company, purchased land from Leo on March 1, 2017 for $75,000. The land original

ly cost Leo $60,000. Compute the gain or loss on the intra-entity sale of land that Leo would recognize on their individual accounting records. Group of answer choices a) $15,000 loss b) $15,000 gain c) $50,000 loss d) $50,000 gain e) $65,000 gain.
Business
1 answer:
Ierofanga [76]2 years ago
7 0

Answer:

$15,000

Explanation:

In leo company books, the gain recognized would be $75,000 - $60,000 = $15,000 as they are selling the land $15,000 more than it initially cost them

You might be interested in
Brandon owes his brother $120. He has a stamp collection worth $1,250 and he has $300 in a bank account. He also has a skateboar
monitta

Answer:

Complete the problem. What are you trying to solve for?

Explanation:

4 0
1 year ago
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company’s recor
ahrayia [7]

Answer:

Equity at August 1st                                       0

adds: Carmen Camry Investment    101,4000

Net Income                                               5,410

Subtotal                                                106,810

Withdrawals                                           -5,950

Carmen Camry capital account at the end of August 31th  100,860

Explanation:

We have to calculae the net income

Fees earned                            26,960

office                           5,200

rent expense                   9,500

salaries expense           5,560

telephone expense      820

miscellaneous expenses    470

Total Expenses         21,550

Net Income                            5,410

Then we do the equity stamtent:

beginning + investment + net income - withdrawals = ending

Equity at August 1st                                       0

adds: Carmen Camry Investment    101,4000

Net Income                                               5,410

Subtotal                                                106,810

Withdrawals                                           -5,950

Carmen Camry capital account at the end of August 31th  100,860

7 0
3 years ago
Read 2 more answers
What is a natural risk that businesses should consider when establishing their information-management procedures
sukhopar [10]
Data security issues such as: Information leaks, Breach of the GDPR law, hacking
4 0
2 years ago
Union Local School District has a bond outstanding with a coupon rate of 2.8 percent paid semiannually and 16 years to maturity.
mafiozo [28]

Answer:

$4,420.35

Explanation:

Bond Price = C x [1 - (1 + r)^{-n} / r] + F / (1 + r)^{n}

Where:

  • C = Coupon
  • r = Yield to Maturity
  • n = compounding periods to maturity

Now we plug the amounts into the formula =

Bond Price = $140 x [1 - (1 + 0.034)^{-32} / 0.034] + $5,000 / (1 + 0.034)^{32}

Bond Price = $4,420.35

3 0
3 years ago
Select the correct answer. You are reading product reviews posted online by consumers. Which external information source are you
joja [24]

consumer reports

_______________

8 0
2 years ago
Other questions:
  • John: "I will sell you my laptop computer for $330." Mary: "Will you include the carrying case"? John: "Sold." a. There is a con
    9·1 answer
  • A company issues a callable (at par) ten-year, 6% coupon bond with annual coupon payments. The bond can be called at par in one
    8·1 answer
  • Like every individual business must have
    15·1 answer
  • Juan, the owner of Quality Catering, is driven by competition. He is very focused on meeting deadlines and quality, and on deliv
    9·1 answer
  • Government can reallocate resources of an economy through taxes, ________ payments, and by providing direct services..
    14·1 answer
  • At the end of each of the next 5 years, you will deposit the following amount into your savings account: Year Cash Flow 1 $200 2
    15·1 answer
  • Jose Peacher is an executive with a large manufacturing company. A former coworker of his recently started a company and raised
    6·1 answer
  • Why are so many people on brainly weird.
    15·1 answer
  • Mark Simpson earns $980 biweekly as a security guard for Albany Med. His group medical insurance costs $7,000 a year. The compan
    9·1 answer
  • You have been provided with the following summarized accounts of Golden Times Ltd. For the year ended 31 March 2000:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!