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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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maria [59]

U.S. President Donald Trump checked one more item on his “To Undo” list of Obama administration actions last Friday when he reset the U.S. policy on Cuba. While the new policy restricts individual tourist travel and business investment in more than half of Cuban industry, it retains many smaller features like permitting family-related travel and professional/academic visits to the country. Among the immediate casualties will be a burgeoning tourism and hospitality industry that sprung up in Cuba after Barack Obama’s friendly overtures began two years ago.

Explanation:

4 0
3 years ago
Suppose 90-day investments in Britain have a 6% annualized return and a 1.5% quarterly (90-day) return. In the U.S., 90-day inve
Vilka [71]

Answer:

1 pound = $1.6582

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5 0
3 years ago
How can you train yourself to never give up before you reach you number one goal.
slavikrds [6]

Answer:

Make a List of Goals. Write down your goals and visualize how you will feel when you hit each one. ...

Work Out Every Day. ...

Make a Schedule and Stick to It. ...

Find Your “Whys” ...

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Stop Comparing Yourself With Other People. ...

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Explanation:

3 0
2 years ago
If a country has a working-age population of 200 million, 135 million people with jobs, 10 million people who were looking for a
spayn [35]

Answer:

The labor force is 140 million.

Explanation:

The working-age population refers to the portion of the population that is of the working age. It does not include children and old people.

People who have a job or business are considered employed.

The workers who do not have a job and are actively looking for one are considered unemployed.

Those workers who do not have a job and are not actively looking for one are called discouraged workers.

Working-age population = 200 million

Number of people employed = 135 million

Number of discouraged workers = 10 million

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Labor force = Number of people employed + Number of people unemployed

Labor force = 135 million + 5 million

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6 0
3 years ago
What are equity investments?
snow_tiger [21]

An equity investment generally refers to the buying and holding of shares of stock on a stock market by individuals and firms in anticipation of income from dividends and capital gains. :)

7 0
3 years ago
Read 2 more answers
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