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
Dafna1 [17]
3 years ago
13

Marigold Corp. is indebted to Ivanhoe under a $960000, 13%, three-year note dated December 31, 2019. Because of Marigolds financ

ial difficulties developing in 2021, Marigold owed accrued interest of $124800 on the note at December 31, 2021. Under a troubled debt restructuring, on December 31, 2021, Ivanhoe agreed to settle the note and accrued interest for a tract of land having a fair value of $870000. Marigolds acquisition cost of the land is $720000.
Required:
1. Ignoring income taxes, on its 2021 income statement, what should Marigold report as its gain on disposal and restructuring gain?
Business
1 answer:
exis [7]3 years ago
6 0

Answer:

$150,000 and $214,800

Explanation:

The computation is shown below:

Gain on disposal = Fair value of the land - cost of the land

= $870,000 - $720,000

= $150,000

Now the restructuring gain is

= Loan amount + accrued interest - fair value of the land

= $960,000 + $124,800 - $870,000

= $214,800

We simply applied the above formulas so that the gain on disposal and restructuring gain could come

You might be interested in
The price quotations of Treasury bonds in the Wall Street Journal show an ask price of 104.25 and a bid price of 104.125.
Andreas93 [3]

As a seller we would receive $1,041.25

<u>Solution:</u>

You may receive the bid price of the dealer, 104.125\% of $1,000, or $1,041.25

Prices of treasury bonds are expressed as par value amounts.  

The quote price of 104:25 means that the bond is priced at (104 + \frac{25}{100})\%= 104.25\% of the par value.  

Therefore, if the debt is $1,000, the dollar values to be charged by the borrower should be 1,000\times104.25\% = \$1,041.25

5 0
3 years ago
Which of the following theories argues that organizations try to minimize their reliance on other organizations for the supply o
aleksklad [387]

Answer: The answer is C.

Explanation: The Resource dependence theory is based on the principle that organizations, must engage in transactions with other organizations in their environment in order to acquire the resources needed for their daily operations.

Although such transactions may be advantageous, they may also create dependencies that are not, and so organization A may want to rely less on organization B, in their quest to influence the environment to make resources available.

This theory actually originated in the 1970s with the publication of The External Control of Organizations: A Resource Dependence Perspective by Jeffrey Pfeffer and Gerald R. Salancik.

The theory is based on the idea that resources are vital for organisational success and that access and control over resources forms the basis of power.

4 0
3 years ago
Read 2 more answers
able sold to both the low and high tech segments last year, and marketing predicts able will have the same market share next yea
OverLord2011 [107]

Able sold to both the low and high-tech segments last year, and marketing predicts able will have the same market share next year. 1,841 units would you forecast for able.

Marketing describes the actions a business does to encourage the purchase or sale of a good or service. Advertising, selling, and delivering goods to customers or other firms are all included in marketing. Affiliates perform some marketing on behalf of a business.

Advertising is one of the primary methods used by marketing and promotion specialists to capture the interest of important target markets. Targeted promotions may include celebrity endorsements, memorable slogans or taglines, eye-catching packaging or graphic designs, and general media exposure.

Learn more about marketing here:

brainly.com/question/13414268

#SPJ4

7 0
2 years ago
Person A earns $100,000 per year, while person B earns $45,000 per year.
USPshnik [31]
A is correct, sales tax is the same for everybody in a state, no matter the income. Hope this helps!
3 0
3 years ago
Read 2 more answers
What is one of the three functions of the central vision area of a driver?
ruslelena [56]
Although the focus vision is the one responsible for the targeting function, it is the central vision that allows the viewing of the line of sight to the target area. It is the central vision that allows a relative focus for mid distances and blurring of what's around. It is important on a motorway, for example, as what's ahead is the most important once there isn't people or very busy areas around.
7 0
3 years ago
Other questions:
  • ​Connecticut, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the compar
    13·1 answer
  • The following events occurred for Favata Company: Received $16,000 cash from owners and issued stock to them. Borrowed $13,000 c
    6·1 answer
  • In monopolistic competition, what effect do price variations generally have on the market as a whole
    5·1 answer
  • Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 360,000 Beginning m
    15·1 answer
  • When purchases of tennis socks decline following an increase in the price of tennis sneakers (other things remaining equal), the
    12·1 answer
  • Leona bought two different brands of wine from vineyards in Australia. When asked for her opinion about the wines, she said that
    8·1 answer
  • Consider a bond (with par value = $1,000) paying a coupon rate of 9% per year semiannually when the market interest rate is only
    5·1 answer
  • Dearborn Company has earnings per share of $2.80, it paid a dividend of $2.10 per share, and the market price of the company's s
    11·1 answer
  • What is brand personality​
    12·1 answer
  • How can you best describe the irony of interpersonal communication in the technology age
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!