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BaLLatris [955]
3 years ago
9

A pump has failed in a facility that will be completely replaced in 3 years. A brass pump costing $6000 installed will last 3 ye

ars. However, a used stainless steel pump that should last 3 more years has been sitting in the maintenance shop for a year. The pump cost $13,000 new. The accountants say the pump is worth $7000 now. The maintenance supervisor says that it will cost an extra $500 to reconfigure the pump for the new use and that he could sell it used ( as is) for $4000. (a) What is the book cost of the stainless steel pump
Business
1 answer:
Kamila [148]3 years ago
8 0

Answer: $7,000

Explanation:

The book value of the pump is the same as the value stated by the accountants.

The accountants are skilled in the field and most probably used accounting assessment techniques which were based on certain assumptions by accounting bodies so their valuation of the pump is to be considered the book value.

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In which investment category are fair values and subsequent growth of an investee not relevant for reporting?
Iteru [2.4K]

Answer:

The correct answer is <em>held-to-maturity securities</em>.

Explanation:

Securities held until expiration (HTM) are purchased to be held until expiration. The management of a company could invest in a bond that they plan to hold until they expire. As a result, there are different accounting treatments for retained securities until maturity compared to securities that must be settled in the short term.

4 0
3 years ago
Current disposable income held to buy consumption goods in the future is referred to as:______.
maxonik [38]

The current disposable income held to buy consumption goods in the future is referred to as saving.

Consumables are goods that are best suited for their end use. In other words, the end-user of consumer goods is the consumer themselves, and capital goods are the goods used to manufacture consumer goods.

Common examples include food, drink, clothing, shoes, and gasoline. Consumer services are usually intangible products or actions that are produced and consumed simultaneously.

Learn more about   consumption goods here

brainly.com/question/18849286

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3 0
2 years ago
g The "monetary base" is simply: a. the total of all currency in circulation, outside banks b. the total vault cash held among a
Zanzabum

Answer:

e. the total of currency in circulation, plus depository institution reserves and vault cash

Explanation:

Monetary base is a concept in money supply that measures highly liquid assets in an economy.

It includes all cash that is in circulation in the economy and those deposits that are held as reserves by the central bank from commercial banks. Cash in bank vaults are also included because they are readily available to the economy.

For example if there is $200 million in circulation and there is $13 billion in the central bank as reserves from commercial banks, the total monetary base is $13.2 billion

6 0
3 years ago
A local sports team sends out messages to cell phones of loyal fans informing them about a tailgate event before the next home g
Sedbober [7]

Answer:

A. limited details of offer

Explanation:

The offer is strong as it reaches only the persons that are fans and will be more interested in this event. The only particular reason for this offer to fail is that the message won't contain enough information about the event and this will lose the attention of the fans.

7 0
3 years ago
The following information is available for Moiz Company:________.
notsponge [240]

Answer and Explanation:

1. Interest Revenue $23,000  

 Sales Revenue $510,000  

              To Income Summary $533000

(Being closing of revenues accounts are closed)

2. Income Summary $453,000

  To Sales returns $20,000

      To Sales Discounts  $7,000

     To Cost Of goods sold $310,000

     To Freight out $2,000

      To Advertise Exp $15,000

      To Interest Exp  $19,000

      To Salaries & Wages $55,000

      To Utility  $18,000

      To Depreciation $7,000

(Being closing of expenses accounts are closed)

3. Income Summary $80,000

      To Retained Earning $80,000

(Being profit is recorded)

4. Retained Earning $30,000

        To Dividends  $30,000

(Being closing of dividend is recorded)

8 0
3 years ago
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