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alexandr1967 [171]
3 years ago
8

Cedric Company recently traded in an older model of equipment for a new model. The old model’s book value was $252,000 (original

cost of $552,000 less $300,000 in accumulated depreciation) and its fair value was $280,000. Cedric paid $68,000 to complete the exchange which has commercial substance. Required:
Prepare the journal entry to record the exchange. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
vfiekz [6]3 years ago
7 0

Answer:

Explanation:

General Journal

Dr Cr

Equipment - new 348,000

Accumulated depreciation 300,000

Cash 68,000

Equipment - old 552,000

Gain 28,000

Workings:

Equipment – new ($280,000 + 68,000) = $348,000

Gain ($280,000 – 252,000) = $28,000

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Jones Corp. reported current assets of $191,000 and current liabilities of $136,000 on its most recent balance sheet. The curren
stiks02 [169]

Answer:

acid-test ratio 1,4044

Explanation:

We are asked for a variation ofthe current ratio

whie current ratio is determinate like:

\frac{current\: assets }{current\: liab}

the acid-test will remove inventory from the current assets, leaving only cash, marketable securities and accounts receivables considered for the calculations:

191,000 current assets - 85,000 inventory = 106,000

136,000 current liabilities

191,600 / 136,000  = 1,4044

7 0
3 years ago
Suppose that policymakers are considering placing a tax on either of two markets. In Market A, the tax will have a significant e
slava [35]

Answer:

The answer is: B) Market B

Explanation:

Deadweight loss refers to an economic loss caused by market inefficiencies.

Market inefficiencies occur when supply and demand are not in equilibrium. In market A, the tax will barely affect the equilibrium quantity, so the deadweight loss will not be as large as in market B where the equilibrium quantity will be severely affected.

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3 years ago
Which button in the Print Preview tab allows users to set specific margins on the page of a report?
Irina-Kira [14]

Answer:

Page Setup

Explanation:

Page set up allows users to determine how a print out will appear. The user can customize the page size and layout. The page setup dialog box is available under the Layout tab in the Ribbon menu.

Page layout makes it possible for users to set the print parameters. These parameters include paper size,  page orientation, page margins, and quality of the print.

6 0
2 years ago
20. To add body to a hearty broth, you may use
Sophie [7]

Answer:

The correct answer would be A, Onions.

Explanation:

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3 years ago
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vovangra [49]

Answer is  tough question and homework.

The purchasing professional is concerned with ensuring that his or her purchasing actions complement the strategic goals of the firm. The ordinary shopper concentrates on tactical purchases, or just purchasing what is directed to him or her. Self-development is a second factor that separates the purchasing professional. The purchasing professional is always looking for ways to further his or her career by attending training seminars, continuing post-secondary education, reading, and benchmarking the methods of world-class purchasing companies.

The usual buyer would do little more than attend mandated training provided by his or her company. Supplier ties are a third consideration. The buying professional tries to form alliances with world-class suppliers who offer competitive pricing, exceptional quality systems, on-time delivery, and customer centricity.

Therefore, the blank is to be filled by tough question and homework

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8 0
2 years ago
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