Trickle irrigation can be used to reduce

Samson Corporation sold the following during the year: Two delivery trucks purchased in March 2016 for $78,000 are sold in June

Marta_Voda [28]

Answer:

Truck = Short term capital loss of $8,000

Land = Long term capital gain of $320,000

Machine = Long term capital loss of $125,000

Building = Long term capital gain of $125,000

Net effect Long term capital gain of $125,000

And Short Term Capital Loss of $8,000

Explanation:

As for the provided information we have,

Sale of Trucks within a few months, as purchased in March and sold in June, therefore,

Sale price - Carrying value = $70,000 - $78,000 = -$8,000

Therefore, it is short term capital loss

Sale of land which is 5 years old, therefore, it will be long term.

Sales price - Carrying value = $400,000 - $80,000 = $320,000

Long term capital gain = $320,000

Machines are old and now depreciated, thus it will be long term

Sale price - carrying value = $75,000 - $200,000 = - $125,000 Long term capital loss

Building purchased 8 years ago will be long term in nature, therefore,

Sale price - carrying adjusted basis = $425,000 - $300,000 = $125,000 Long term capital gain.

Final Answer

Truck = Short term capital loss of $8,000

Land = Long term capital gain of $320,000

Machine = Long term capital loss of $125,000

Building = Long term capital gain of $125,000

Net effect Long term capital gain of $125,000

And Short Term Capital Loss of $8,000

7 0

3 years ago

When a donor makes a gift in trust, who is considered the done?

BartSMP [9]

Answer:

yeet

Explanation:

5 0

3 years ago

If a business is in need of working capital, one option is to use a(n) ________ that will buy the company's account receivables

vesna_86 [32]

Answer:

factoring company

Explanation:

Factoring companies purchase your company's invoices (account receivables). When they do that, your company promptly receives a cash advance, instead of waiting for the usual 60, 90 day period to receive the full payment amount. Afterward, the factoring company collects the payment from your clients.

All of that is done for a fee to the factoring company (deducted from the full payment amount) and mostly with clients with whom it is normal to have longer payment periods. Factoring is an essential way to get bigger working capital.

5 0

3 years ago

Read 2 more answers

Benoit company produces three products—a, b, and

Lana71 [14]

My answer is: Produce Product C first, then followed by Product A. to maximize contribution margin. Product B will not be produced since the maximum number of pounds has already been used in producing Products C and A.

 PER UNIT
 PRODUCT A B C
 SELLING PRICE 80 62 81
 VARIABLE EXPENSES
 DIRECT MATERIALS 24 18 9
 OTHER VAR EXP. 24 25.4 43.65
 TOTAL VAR EXP 48 43.4 52.65
 CONTRIBUTION MARGIN 32 18.6 28.35
 CM RATIO 0.4 0.3 0.35
 
COMPANY CAN SELL 800 UNITS OF EACH PRODUCT PER MONTH.
 SAME RAW MATERIAL IS USED IN EACH PRODUCT.
 MATERIAL COSTS 3 PER POUND W/ A MAX OF 5,000 POUNDS EACH MONTH
 
PRODUCT DM UNIT COST NO. OF LBS
 A 24 3 8
 B 18 3 6
 C 9 3 3
 PRODUCT NO. OF LBS/UNIT MAX UNITS TOTAL NO. OF LBS
 A 8 800 6400
 B 6 800 4800
 C 3 800 2400
 TOTAL 13600
 LIMITATION: 5,000 POUNDS PER MONTH ONLY.

 required: 
 1. calculate the contribution margin per pound of the constraining resource for each product. 
 2. which orders would you advise the company to accept first, those for a, b, or c? which orders second? third?
 
PLS. SEE ATTACHMENTS FOR MY FULL COMPUTATIONS.