Answer:
$36,000
Explanation:
The first step is to calculate the fair value of the new truck
(List price-cash paid with trade)-(original cost -accumulated depreciation)
= (36,000-30,000)-(24,000-16,000)
= 6000-8000
= loss of $2000
Therefore the cost of the new truck for financial accounting purposes can be calculated as follows
(Original cost- accumulated depreciation)+cash paid with trade-loss
= (24,000-16,000)+30,000-2000
= 8,000 + 30,000 - 2,000
= 38,000-2,000
= $36,000
Hence the cost of the new truck for financial accounting purposes is $36,000
<span>Mr. Shiftlet is a character from the story, The Life You Save May Be Your Own, written by Flannery O’Connor. In it, Mr. Shiftlet visits the Crater farm in Alabama and Mrs. Crater hires him to do repairs around the farm. From the beginning, Mr. Shiftlet's greatest desire is to obtain a car he found parked at the farm. He spends a good deal of time working on the car and wants it for himself.</span>
Answer:
c. $500
Explanation:
A contract is an agreement by two or more parties to perform a.certain activity within a given time.
When contract are breached, the beneficiary has the right to gain back the amount promised.
If the beneficiary can get another option, the other party is obligated to pay the balance.
On this instance Nora had the chance to get a new job at $2,000 salary the balance is $2,500 - $2,000= $500. Since she rejected the job she is responsible for that loss.
However ABC is still liable to pay the balance of $500
Answer:
Don’t take ‘no’ for an answer
Learn from the best
Stay hungry and ambitious
Never stand still; evolve with the times
Nurture long-term business relationships
Inspire those around you
Trust your gut instinct, not just your spreadsheet
Explanation:
It takes hard work and dedication and they are many free sources that is available today such as videos
Answer:
The store manager must decide to buy 3
Explanation:
Given that:
- The first: $200 a year
- The second $150
- The third $75,
- The fourth $50
- Interest rate is 12 percent
- Investment: $500
As we know that the rate of return will be: Income / Investment
So the rate of return of:
- The first: $200 / $500 = 0.4 = 40%
- The second $150 / $500 = 0,3 = 30%
- The third $75 / $500 = 0.15 = 15%
- The fourth $50 / $500 = 0.1 = 10%
Only three rug cleaners have the rate of return greater than the interest rate so the store manager must decide to buy 3
