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Assoli18 [71]
3 years ago
6

Wolf Computer exchanged a machine with a book value of $40,000 and a fair value of $45,000 for a very similar machine. In additi

on, Wolf paid $6,000 as part of the exchange. Wolf should recognize:
Business
1 answer:
fgiga [73]3 years ago
6 0

Answer:

gain of $5,000

Explanation:

Wolf's gain = fair market value - book value = $45,000 - $40,000 = $5,000

a company must determine the gain or loss of an exchange transaction using the asset's book value and comparing it against its fair market value. If the FMV is higher than the book value, the company will recognize a gain. If the FMV is lower than the book value, then the company will recognize a loss.

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What are five private agencies that protect consumer rights
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<span>Consumer Financial Protection Bureau (CFPB)


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3 years ago
What is monetary policy? A.Monetary policy is policy set by the central bank to influence the amount of money and credit availab
kakasveta [241]

Monetary policy is policy set by the government to influence the amount of money and credit available in the economy

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3 years ago
Too little spending in an economy often leads to:__________
vlabodo [156]

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To know more about recession here:

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7 0
2 years ago
The basis for designing an effective strategy for exporting begins with ________.
Lelechka [254]

Answer:

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4 years ago
Do you think it is possible for an outsider to accurately discern about the underlying cultural values of an organization by ana
Rudiy27

Answer:

From the given variables, an outsider might be able to understand roughly 35% of the organization's culture.

Explanation:

Culture is ultimately a state of mind, a mode of perception and a collective conscious.

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4 years ago
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