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
lana66690 [7]
2 years ago
6

Johnson borrowed $45,000 secured by land with a basis of $20,000. Johnson could not pay the principal, so the bank foreclosed an

d sold the land for $35,000 as full settlement of the debt. What income should Johnson recognize
Business
1 answer:
vredina [299]2 years ago
4 0

Answer:

the income that should be recognized is $25,000

Explanation:

The computation of the income that should Johson recognized is shown below:

Income To be recognized is

= Borrowings amount - Basis of land

= $45000 - $20000

= $25,000

hence, the income that should be recognized is $25,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered

You might be interested in
The interest rate for this lease is 11%. the payments are due on december 31 of each year. the first payment was made on decembe
Artist 52 [7]
So what is the question? This is just a statement.
4 0
3 years ago
Sydney has worked for WillCo for the last 20 years. She just had her 60th birthday and is thinking about retirement. WillCo spon
Wittaler [7]

Answer: c. Sydney can diversify 50% of her WillCo stock.

Explanation:

Employee stock ownership plan (ESOP) is simply referred to as an employee benefit where the employees of a particular company are given ownership interest as long as some certain criteria are met.

Once the workers become qualified participants, they can diversify certain percentage of their stocks. From the 1st-5th year, a qualified participant is allowed to diversify about 25% of his or her stock account and about 50% in the 6th year.

Based on the explanation, since Sydney has worked for WillCo for the last 20 years, Sydney can diversify 50% of her WillCo stock.

5 0
3 years ago
There exists a(n)
FrozenT [24]

Answer:

Direct, upward sloping

Explanation:

Supply refers to the quantities of goods or services that firms are willing to sell to the markets are a specific price. As per the law of supply, an increase in prices leads to an increase in the quantity supplied. Therefore, the relationship between the price and quantity supplied is direct. Firms prefer to supply more products to the markets at higher prices because they will make more profits.

The supply curve is a graphical presentation of the relationship between price and quantity supplied.  The supply curve is upward sloping. It originates from the bottom left corner, showing how quantities vary along the curve at different prices. Quantity supplied increases as the price rise.

7 0
3 years ago
Which of the following is a current liability?
Vitek1552 [10]

Answer:

D) None of these answers are correct

Explanation:

None of the answers are correct because the definiton of current liability is a debt or obligation that has to paid off before the fiscal year ends. In other words, current liabilities are by definition short-term obligations, and all the options in the question refer to long-term obligations.

6 0
3 years ago
Sage Company is operating at 90% of capacity and is currently purchasing a part used in its manufacturing operations for $14.00
romanna [79]

Answer:

The correct answer to the following question will be "$76,986".

Explanation:

Although the organization is reportedly going to pay $14.00 per unit, even before manufactured throughout the corporation, cost and save per unit will become the variation among current value as well as production costs without set rate. The cost of operating expenses will not be included to measure the gain because the idle resources of the company would be included and would not raise the fixed costs.

Therefore the cost differential would be as follows:

⇒ Differential \ cost = (Current \ purchasing \ price-Manufacturing \ cost \ excluding  \ fixed \ cost)\times 38,493On putting the values in the above formula, we get

⇒                        =(14-12)\times 38,493

⇒                        =2\times 38,493

⇒                        =76,986

5 0
3 years ago
Other questions:
  • one of the major criticisms of the G-20 is that they are completely ineffective in setting policies? true or false
    6·1 answer
  • What is the residual value of a leased vehicle? A. The vehicles current selling price
    10·2 answers
  • If caviar prices doubled, while sales of caviar rose 20%, this example would definitely refute the law of demand. A. TrueB.False
    15·1 answer
  • The introduction of diet coke by the Coca Cola Company is an example of ________.A) line extensionB) brand harmonizationC) categ
    15·1 answer
  • Shawn Incorporated planned to produce 3,000 units of its single product, Megatron, during November. The standard specifications
    11·1 answer
  • _____ are words that are specific to an employer’s needs or industry and improve your chances of having your résumé considered.
    6·1 answer
  • A buyer-supplier relationship is formed around leverage items in portfolio analysis to attain the desired levels of quality, qua
    9·1 answer
  • THIS IS BUSINESS ENGLISH!
    10·2 answers
  • Which advertising option reaches more than 96 percent of all households, both in their homes and outside of homes in places such
    6·1 answer
  • According to a supply and demand model for apples, if the average household income decreases at the same time ten apple orchards
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!