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Luden [163]
3 years ago
9

A machine cost $1,200,000, has annual depreciation of $200,000, and has accumulated depreciation of $950,000 on December 31, 202

0. On April 1, 2021, when the machine has a fair value of $275,000, it is exchanged for a machine with a fair value of $1,350,000 and the proper amount of cash is paid. The exchange had commercial substance. The gain to be recorded on the exchange is
Business
1 answer:
Andrew [12]3 years ago
7 0

Answer: $1,350,000

Explanation:

If an exchange is said to have commercial substance, it means that the company will either record the asset received at its fair value and if this is not available, it will then record the value of the asset received at the fair value of the assets that were exchanged for it.

The fair value of the assets acquired are available in this instance so the machine will be recorded at its fair value of $1,350,000.

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Joan has entered into a contract with the federal government to design a computer simulation model for training helicopter pilot
balu736 [363]

Answer:

The correct answer is letter "A": cost-based pricing strategy.

Explanation:

Cost-based pricing strategy is one of the most basic methods of setting the price of a product consisting only in determining the fixed price of the good or service at first and, after obtaining that amount, adding a percentage according to what the profits are expected. The selling price of the product becomes the sum of the fixed costs and the percentage of the fixed costs expressed un dollar amounts (or the currency that applies).

4 0
3 years ago
Lesa drives her car approximately 18,000 miles per year. During the most recent year, she drove 7,000 miles commuting to and fro
White raven [17]

Answer:

The answer is: 4,500 miles

Explanation:

Lesa can only deduct 4,500 miles as transportation expenses form her taxable income. She could include any other related expenses like parking fees, tolls, etc., that she spent during her business related trips.

The 7,000 miles she drove to and form work are not considered business expenses, since going to work is not an actual part of working. It's like an employee trying to get paid for the time he or she spends in a bus going to work.

3 0
3 years ago
Funds acquired by the firm through retaining earnings have no cost because there are no dividend or interest payments associated
bonufazy [111]

Answer:

The correct answer is false.

Explanation:

This statement is false because all funds acquired through earnings have an intrinsic cost that must be determined at the time of withholding them, which must be taken into account during the sale process of any title that is part of the estate. business.

5 0
3 years ago
If the bonds were issued under a gross lien revenue pledge, how much in funds were available to pay the bondholders for this yea
natima [27]

If the bonds were issued under a gross lien revenue pledge, Whatever the balance of gross revenues is in funds existed available to pay the bondholders for this year

<h3>What is Gross lien revenue pledge?</h3>

A gross revenue pledge states that municipal bond issuers will pay creditors' debts out of income before covering other costs. Revenue bonds, obligations that be repaid from a particular source of income rather than the issuer's entire revenues, use gross revenue promises.

A bond is a sort of instrument in which the issuer owes the bearer a debt and is required, depending on the terms, to repay the bond's principal and interest over a predetermined period of time at the bond's maturity date. Interest is often paid at predetermined times. When they need to raise money, governments and businesses issue bonds. By purchasing a bond, you are effectively lending the issuer money. In exchange, they commit to repay you the face amount of the loan on a particular date and to make periodic interest payments—typically twice a year—along the way.

Hence, If the bonds were issued under a gross lien revenue pledge, Whatever the balance of gross revenues is in funds existed available to pay the bondholders for this year.

To learn more about Gross lien revenue pledge refer to:

brainly.com/question/17306050

#SPJ4

3 0
1 year ago
changing an organization's culture is a(n) process. a. quick and easy b. quick but difficult c. long but easy d. impossible e. l
vfiekz [6]

Changing an organization's culture is a process that is e. long and difficult.

Culture is an umbrella time period that encompasses the social behavior, establishments, and norms observed in human societies, as well as the knowledge, beliefs, arts, legal guidelines, customs, talents, and behavior of the people in these groups. culture is regularly originated from or attributed to a specific area or area.

Subculture may be defined as all of the ways of life including arts, ideals, and establishments of a populace which might be passed down from era to generation. lifestyle has been called "the way of life for an entire society." As such, it includes codes of manners, dress, language, religion, rituals, and art.

Cultures are businesses or individuals who proportion a not unusual set of values and beliefs. they will additionally proportion cultural factors like languages, fairs, rituals and ceremonies, pastimes, meals, and architecture. Examples of cultures consist of western tradition, teenagers' way of life, counterculture, and excessive lifestyle.

Learn more about the culture here brainly.com/question/514395

#SPJ4

6 0
2 years ago
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