All categories

2 years ago

In most situations, asset values do not equal the amount of money that could be realized if the assets were sold.

Business

1 answer:

charle [14.2K]2 years ago

4 0

Answer:

True

Explanation:

The answer to this question is true. The recording of assets is usually done at cost. This is equivalent to the value that was exchanged when the asset was sold. In a country like the United States for example, if an asset such as a land or machine gets to appreciate in value after a period of time, it is not usually revalued. Therefore the answer to this question is true.

You might be interested in

The inventory of Cullumber Company was destroyed by fire on March 1. From an examination of the accounting records, the followin

maria [59]

Answer:

a. Merchandise lost by fire value = $20,760

b. Merchandise lost by fire value = $25,770

Explanation:

Net sales = $51,000 - $1,100

= $49,900

Net purchase cost = $31,000 + 1,200 - $1,500

= $30,700

a. Gross profit = $49,900 × 40%

= $19,960

Cost of goods sold = $49,900 - $19,960

= $29,940

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $29,940 = $20,000 + $30,700 - ending inventory

Ending inventory = $20,760

Merchandise lost by fire value = $20,760

b. Gross profit = $49,900 × 30%

= $14,970

Cost of goods sold = $49,900 - $14,970

= $34,930

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $34,930 = $30,000 + $30,700 - ending inventory

ending inventory = $25,770

Merchandise lost by fire value = $25,770

5 0

3 years ago

While working at a busy law firm, Bruce is using Skype to meet with a client in another state. Although Bruce is trying to conce

Neporo4naja [7]

Answer:

Information overload

Explanation:

Information overload can be described as a type of difficulty experienced by individuals in some situations, it is as a result of too much information present at a particular time, this makes it hard for the individual to carry out the right decision.

As individuals we come across a lot of information daily, but our brains can only process such information one at a time, if we attempt to process more data it may lead to the overstressing of the brain capacity which may eventually cause information overload.

6 0

3 years ago

Victor is a single taxpayer in the 24% marginal tax bracket. In 2019, he sold stock shares for a long-term capital gain of $8,50

arsen [322]

Answer:

1. He has a net taxable long-term capital gain for the year of 2019

2. The net taxable long-term capital gain is $ 21.500

3. He will pay $5,160 in taxes as a result of these transactions

Explanation:

1. According to the given data we can conclude that he has a Net taxable long term capital Gain

2. In order to calculate the the net taxable long-term capital gain (or loss) we would have to make the following calculations:

ITEMS GAIN / LOSS

long term capital gain $8,500

long term capital loss ($2,000)

amount adjusted $6,500

long term capital gain as house sold after 3 years $15,000

Net capital long term capital gain $21,500

Overall, long term gain as loss is adjusted and the long term capital gain is $21,500

3. Tax impact on the Net capital long term capital gain $21,500 is at the rate of 24% marginal tax bracket is $5,160 which is determined as ($21,500 x 24%)

Therefore, He will pay $5,160 in taxes as a result of these transactions

3 0

3 years ago

You would like to hold a protective put position on the stock of Ximera Corp to lock in a guaranteed minimum value of $50 at yea

Luba_88 [7]

Answer: C) -0.5

Explanation:

So first we take down the information we where given;

lets say

x = 50

SO = 50

therefore

uSO = ( 50 * ( 1 + 0.1) = (50 * 1) = 55

dSO = ( 50 * ( 1 - 0.1) = (50 * 0.9) = 45

Pd = (x - dS0) = 50 - 45 = 5

Pu = (x - uSO) = 50 - 55 = (-5) because its negative, its = 0

now to get the HEDGE RATIO

we say HEDGE RATIO = (Pu - Pd) / ( uSO - dSO)

HEDGE RATIO = ( 0 - 5) / ( 55 - 45)

HEDGE RATIO = -5 / 10

HEDGE RATIO = -0.5

7 0

3 years ago

When stocks with the same expected return are combined into a portfolio:?

Effectus [21]

The expected return of the portfolio is equal to the weighted average expected return of the stocks<span />

7 0

3 years ago