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
LUCKY_DIMON [66]
3 years ago
14

A company bought new heating system for $64,000 and was given a trade-in of $3,400 on an old heating system, so the company paid

$60,600 cash with the trade-in. The old system had an original cost of $57,800 and accumulated depreciation of $52,200. If the transaction has commercial substance, the company should record the new heating system at:
Business
1 answer:
zheka24 [161]3 years ago
7 0

Answer:

$64,000

Explanation:

The Cost price of the item Acquired is measured at fair value. When the Fair Value of Both the Asset Acquired and Asset given up can be determined reliably, the fair value of the asset given up will be used. Unless, the fair value of the asset acquired is more evident, that value may be used.

<u>Measurement of New Heating System :</u>

Cash                           $60,600

Add Trade In Value      $3,400

Total                           $64,000

You might be interested in
Cash values within an ordinary straight whole life insurance policy _______ over time.
WINSTONCH [101]

Answer:

Increase

Explanation:

Whole Life Insurance Policy represents a life insurance policy that runs through the lifetime of the insured based on either the payments of pre-determined premiums or arrival at the date of maturity. The policy which is also referred to as 'straight or ordinary life' represents a contract between the insured and the insurer. The insurer pays the guaranteed sum or cash values to the insured's beneficiaries at the death of the insured or maturity of the policy.

As compared to another type of life insurance which is the termed life insurance, <u>Whole Life Insurance should provide increasing cash values overtime on the policy</u>. This is because aside the fixed cash value which goes along with the premium the insured pays regularly there  is the accumulation of interest credited by the insurer based on pre-agreed terms to the cash value which is to be paid at maturity. The advantage as well as the fact that the tax treatment of these credited interests is quite favourable as they are tax-free. This benefit accumulates when insurance is greater than ten to fifteen years.

Hence, the cash value of the whole life insurance policy is expected to <u>increase</u> over time as a result of the accumulation of tax-free interests/dividends along with side the predetermined cash value.

3 0
4 years ago
"what are the key steps in retirement planning
scoundrel [369]
Deciding on an income usage would be useful.
7 0
3 years ago
When a project has a positive total slack, some activities can be ________ without jeopardizing completion of the project by its
Art [367]

Answer:

Delayed, accelerated

Explanation:

Total or aggregate slack, is the term which is defined for the activity, is the time that this activity could delayed without impacting on the final date of the project.

It can be computed as the:

Smaller value of Late finish - Early finish field

and

Late start - Early start field

So, when project has positive total slack, few activities delayed the completion of project and when the project has negative total slack, then few activities accelerated to finish the project.

4 0
3 years ago
A one-brand-name strategy should be adopted when the name cannot be pronounced in the local language, when the brand name is own
marishachu [46]

Answer:

False

Explanation:

A brand is a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Name brands are sometimes distinguished from generic or store brands.

4 0
3 years ago
What is a flag drop in cab fees?
Rudik [331]
This is what a customer pays if he or she travels less than a block (for example) and charges mind and decide to get off can. Then after at every additional mile travelled the $2.80 per mile applies.
4 0
3 years ago
Other questions:
  • You have a loan outstanding. It requires making eight annual payments of $ 1 comma 000 each at the end of the next eight years.
    15·1 answer
  • Walmart relies on a cost leadership strategy and tries to keep all of its expenses as low as possible. The company relies heavil
    8·1 answer
  • Discuss how being a multinational enterprise, with a presence in more than 170 countries, helps McDonald’s build its business re
    15·1 answer
  • How did the minimum wage change in october 1996? what other change occurred in september 1997?
    9·1 answer
  • Decisions regarding investment are made by​ __________, whereas decisions regarding saving are made by​ __________.
    10·1 answer
  • Which of the following is a reason managers working abroad in multinational firms may behave in a manner that is unethical?
    8·1 answer
  • The following units of an inventory item were available for sale during the year. Use this information to answer the following q
    5·1 answer
  • Select the correct term for each of the following definitions. Definition Term An interest-earning deposit with a specified matu
    9·1 answer
  • The main purpose of a depository institution is to:
    12·2 answers
  • Discuss the differences between utilization and efficiency as measures of system performance. Which (if any) is the most useful
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!