Answer:
Please find attached Balance sheet.
Explanation:
A fund formed by periodically setting aside money for the gradual repayment of a debt or replacement of a wasting asset.
This sounds like multiple choice but my guess would be that he has to decide if he will profit off of it making it a strategic decision
Answer:
c. $(5,000)
Explanation:
Calculation for the record of either gain/(loss)
In Case B
Book Value amount was $39,100
Fair Value amount was $34,100
Hence:
Using this formula
Gain/(loss)= Book Value-Fair Value
Let plug in the formula
Gain/(loss)=$39,100-$34,100
Loss=$5,000
Grand Forks would record a loss of $5,000 because the fair value which is the price the buyer is willing to buy the asset is lesser than than book value amount.
Obviously, it becomes half so it'll be 10%
Forgive me if its wrong. im answering as best as i can.
