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Assoli18 [71]
2 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]2 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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You oversee the $250 petty cash for your company. When an employee needs a special item that is not in inventory, you take money
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Since this is the first time you have ever done this, is this a problem?

Of course this is a problem, you stole money. Stealing money is not right and it is a problem. If someone finds out, you will lose your job. legally, you could also be prosecuted, but the amount is very little. Another problem is that if you are able to go unpunished and no one finds out, this behavior will continue until you cannot hide it anymore. By then , the amount might be larger, not just a few dollars, and you will be in deep trouble.

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3 years ago
List the professional skills categories required for kinesiology practitioners to be successful
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4 0
2 years ago
In the five forces model, the __________ that companies compete against one another for customers, the _________ the level of pr
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3 0
3 years ago
A good is excludable if: a) Those who are unwilling or unable to pay for the good do not obtain its benefits. b) It is not possi
N76 [4]

Answer:

The correct answer is letter "A": Those who are unwilling or unable to pay for the good do not obtain its benefits.

Explanation:

The excludability feature of goods does not allow individuals to have access to them without having paid for them. Thus, non-excludable goods are those that no one cannot prevent its use. <em>Private goods</em> (clothing, vehicles, houses) are excludable but they are also considered rival goods since when one person uses it another individual cannot consume the goods.

4 0
3 years ago
Read 2 more answers
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