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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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You price a product at $100. Its cost you s60 to make. What is your percentage margin?
BARSIC [14]

the percentage margin is40%

4 0
3 years ago
StuckinMyHouse book company is a boutique shop that produces a small selection of adult coloring books. The first quarter 2020 M
suter [353]

Answer:

<em>Labour rate variance  =    $260 favourable</em>

Explanation:

<em>The rate variance would be the difference between the standard labour cost of the 2,300 units sold and the actual labour cost</em>

Standard labour cost  (3600/1200× 2300)<em>      6,900</em>

<em>Actual labour cost                                             </em><u><em>6, 640</em></u>

<em>labour rate variance                                     </em><u><em>   $260</em></u><em> favourable</em>

The variance is favourable because the StuckinMyHouse book company saved $260 as a result of of his actual cost been less than the expected cost.

6 0
3 years ago
"During this period, employees had more input into management decisions and how they performed their jobs. The use of groups and
Lyrx [107]

Answer: The 1990s

Explanation:

The aim of human relations is to enable the creation of a win-win scenario such that employee needs can be satisfied and organizational objectives can also be achievable.

In the 1990s, employees had more input into management decisions and how they performed their jobs. Also, the use of groups and teams also became popular.

8 0
3 years ago
You purchased 500 shares in a mutual fund for $32 NAV. You elected the dividend reinvestment plan and had all dividend and capit
zloy xaker [14]

Answer:

Return on investment = 50%

Explanation:

Return on Investment is the proportion of investment cost  that an investor earns as as return in dollar

For a mutual fund= total return in dollar/investment cost

                             = (48-32)× 500/(500× 32)  × 100

                            =50%

<em>Note that the gains in dollar is the difference between the selling price at the end and the selling price at the beginnin</em>g.

8 0
3 years ago
Acme enterprises began the new year owing its suppliers $3,000 for merchandise purchased last year. Acme then sold half of this
Zanzabum

Answer:

$8500

Explanation:

Beg AP bal = 3000

Sold 1/2 of merch on acct = add 2500

Paid suppliers = subtract 1000

Bought more merch on acct = add 4000

3000 + 2500 - 1000 + 4000 = 8500

Ending AP bal = 8500

4 0
2 years ago
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