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Yuri [45]
3 years ago
6

On December 1, 2020, Concord Corporation acquired new equipment in exchange for old equipment that it had acquired in 2017. The

old equipment was purchased for $216000 and had a book value of $83720. On the date of the exchange, the old equipment had a fair value of $91000. In addition, Concord paid $286000 cash for the new equipment, which had a list price of $386000. The exchange lacked commercial substance. At what amount should Concord record the new equipment for financial accounting purposes?
Business
1 answer:
vredina [299]3 years ago
6 0

Answer:

$369,720

Explanation:

The computation of the amount record the new equipment for financial accounting purpose is shown below:

Book value of new equipment = book value of old equipment + cash given

where,

Book value of old equipment is $83,720

And, the cash paid for new equipment is $286,000

SO, the book value of new equipment is

= $83,720 + $286,000

= $369,720

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How do occupancy rate and potential gross rate relate​
Setler79 [48]

Explanation:

Occupancy rate is the ratio of rented or used space to the total amount of available space.

The potential gross rate is the total rental income a property can produce if all units were fully leased and rented at market rents with a zero vacancy rate.

They relate through that they both allow for renting?

3 0
3 years ago
Gaden company sells a product for $50 per unit. Warialbe costs are $40 per unit. Calculate the contribution margin per unit, in
max2010maxim [7]

The Garden company sells a product for $50 per unit. Variable costs are $40 per unit.  50 % of the contribution margin per unit, in total, and as a ratio.

Selling price per unit - Variable cost per unit = Contribution margin per unit

50 - 25 = $ 25

Sales - Variable cost = Contribution margin

( 610 * 50 ) - ( 610 * 25 ) = $ 15250

Contribution margin / Sales = Contribution margin ratio

15250 / 30500 = 50%.

Variable costs are directly related to the cost of producing goods and services, whereas fixed costs do not change with the level of production. Variable costs are commonly referred to as COGS, but fixed costs are not usually included in COGS. Fluctuations in sales and production levels can affect variable costs when factors such as sales commissions are included in the unit price of production. On the other hand, fixed costs still have to be paid, even if production slows down significantly.

Learn more about Variable costs at

brainly.com/question/5965421

#SPJ4

7 0
1 year ago
Suppose that in your first year of college you spend $21,800.00 more than you earn. In your second year, your expenses increase
lilavasa [31]

Answer:

$483,000.987

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Explanation:

8 0
3 years ago
In the United States, ownership of intellectual property rights is established by "prior use versus registration" which implies
timurjin [86]

Answer:

D. prove the ownership of a trademark in a court of law

Explanation:

  • The intellectual property laws in the united states is under the Federal laws and are directly followed by the constitution for the copywriter and the patents and only the federal govt has the power to make laws and the ability to regulate commerce.
3 0
3 years ago
What was this product's net operating income (loss) last year? last year minden company introduced a new product and sold 15,000
mafiozo [28]

Answer:

1. What was the product's operating income(loss) last year = $90,000 loss

2. What is the product's Break even point in unit sales and dollars

• Break even sales in units 18,000

• Break even i n sale dollars $1,260,000

3. Maximum annual profit given an increment of 5,000 units and reduction of sales price per unit by $2.

• Net profit of $20,000

4. What would be the break even point in unit sales and dollars using the selling price that you determined in requirement 3.

• Break even sales units 19,285.7

• Break even in sales dollars $1,311,427.6

Explanation:

Please see attached detailed solution to the above questions and answers.

3 0
3 years ago
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