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ASHA 777 [7]
3 years ago
11

Cedric Company recently traded in an older model computer for a new model. The old model's book value was $140,000 (original cos

t of $370,000 less $230,000 in accumulated depreciation) and its fair value was $210,000. Cedric paid $65,000 to complete the exchange, which has commercial substance.
Calculate the following values:
1. Amount to debit for new equipment
2. Amount to debit accumulated depreciation
3. Amount to credit to cash
4. Amount to credit for old equipment
5. Gain or loss on sale
Business
1 answer:
Semmy [17]3 years ago
8 0

Answer:

1. $210,000

2.$230,000

3. $65,000

4. $370,000

5. $135,000 loss

Explanation:

1. Amount to debit for new equipment

Use the Fair Value of Asset given

2. Amount to debit accumulated depreciation

Use the accumulated depreciation of asset given up.

3. Amount to credit to cash

Use the Cash Paid up

4. Amount to credit for old equipment

Use the cost of asset given up

5. Gain or loss on sale

Gain or loss = Carrying Amount - Fair Value - Cash traded up

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One form of IDS starts operation by generating an alert for every action. Over time, the administrator adjusts the setting of th
statuscvo [17]

Answer:

The term IDS refers to a system that listens to network traffic to detect abnormal or suspicious activities, and thus reduce the risk of intrusion.

Explanation:

Its advantages are

•They are connected in network segments, so with a single IDS you can detect attacks on all computers connected to that segment

•They are independent of the mobile platform by the different teams in the network.

•These are attacks to detect attacks detected in the detection of IP attacks or denial of service attacks that can block the server.

-They can behave as if they were invisible to attackers.

Its disadvantages are

•They are ineffective in systems with encrypted traffic.

•Its operation becomes difficult in network environments detected in high-speed computers, since they usually reach Gbps speeds, preventing the IDS from analyzing all packets on time.

•If there is momentary network congestion, the IDS could start losing packets.

•Because they operate in heterogeneous environments (Windows, Linux, etc.) they may not be able to define the relevance of an attack on each platform.

3 0
3 years ago
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules,
marissa [1.9K]

Answer:

Shoemarket Corporation

Journal Entries:

April 1, 2021:

Debit Notes Receivable $490,000

Credit Cash Account $490,000

To record the issue of notes.

December 31, 2021:

Debit Interest on Notes Receivable $36,750

Credit Interest on Notes $36,750

To accrue interest on notes for the year.

April 1, 2022:

Debit Cash Account $539,000

Credit Notes Receivable $490,000

Credit Interest on Notes Receivable $36,750

Credit Interest on Notes $12,250

To record cash collection of the note and interest.

Explanation:

a) The acceptance of  notes receivable increases the Notes Receivable account and reduces the Cash Account by $490,000.

b) Due to the accrual concept and the matching principle, on December 31, 2021, interest on notes receivable will be accrued.  This is calculated as follows:

Interest for 9 months = $490,000 x 10% x 9/12 = $36,750.

c) On April 1, 2022, when the cash collection of the note and interest is made, the Cash received will total $539,000 ($490,000 + 10% Interest for a year).  This is worked as $490,000 x 10% = $49,000.  But, already interest for 2021 had been accrued.  The difference is now accrued in 2022.

d) The entries required are a debit to the Cash Account $539,000, a credit to Interest on Notes Receivable $36,750, to Interest on Notes $12,250, and Notes Receivable Accounts $490,000 respectively.

3 0
2 years ago
Read 2 more answers
Which type of account will typically have the highest interest rate?
Firdavs [7]

<u>A certificate of deposit account will have the highest interest rate. </u>

Further Explanation:

Interest rate:

The interest rate is the rate of interest earned on investment for a particular time period. Account refers to the investment of money made for a particular period. The investors invest in those account which provides the highest rate of return. If the investor gets a lower rate of return, he is not interested in investing the money.  

Certificate of deposit:

A certificate of deposit is the type of account in which the investment has been made for a particular time period. It provides the highest interest rate. The investor invests in this type of account when he does not need the money immediately. He makes this type of investment for an extended period of time for different purposes. The investor makes this investment in case of long term funds needed for a particular purpose. For example, the marriage of the son or daughter, sometimes the investor may face the disease problem, purchase of land, purchase of the home, purchase of the car and many more purposes. As this investment provides a higher rate of interest, it will increase the amount of principal that the investor deposited.

Therefore, the certificate of deposit provides the highest interest rate.

Learn more:

1. Learn more about account

<u>brainly.com/question/5057443 </u>

2. Learn more about the savings account

<u>brainly.com/question/2652429 </u>

3. Learn more about bank account

<u>brainly.com/question/3212764 </u>

Answer details:

Grade: Middle School

Subject: Business  

Chapter: Money and banking

Keywords:  certificate of deposit, higher interest rate, investment, investor, provides, deposited, particular time period.

7 0
3 years ago
Regarding a broker's commission, the California Business and Professions Code requires that in the sale of residential property
Harrizon [31]

Answer:

The remaining part of the question is:

They are set by each broker individually and may be negotiable between the seller and broker.” This clause must be printed:

1. In not less than 8-point boldface type.

2. In not less than 10-point boldface type.

3. In not less than 11-point boldface type.

4. In not less than 12-point boldface type.

Correct Answer:

2. In not less than 10-point boldface type.

Explanation:

<em>In-order to print the clause, the 10-point boldface type should be the minimum font on which the compensation clause is printed. It would make it easier to read.</em>

4 0
3 years ago
A thief steals an ATM card and must randomly guess the correct three​-digit pin code from a 9​-key keypad. Repetition of digits
Dennis_Churaev [7]

Answer:

The thief has a 0.11% probability of hitting the pin code on the first try.

Explanation:

Simply, if the ATM card has a 3-digit code that can be repeated, and the board has 9 numbers (for example, from 1 to 9), we must start from the smallest number that could be formed with these numbers to the highest number that these numbers could also compose, which in the case would be 111 and 999. Then, 889 different numbers could be formed (it is the distance between 111 and 999), with which the possibility of hitting the key to the first attempt would be 1 in 889 times, or 1/889.

To take the probability to a percentage, we must know that 889 / 8.89 gives 100. Therefore, dividing 1 / 8.89 we will know the percentage of probabilities of hitting the key on the first attempt: 1 / 8.89 = 0.11.

This shows us that the thief has a 0.11% probability of hitting the key on the first try.

7 0
2 years ago
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