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oksano4ka [1.4K]
3 years ago
11

Colt Football Co. had a player contract with Watts that is recorded in its books at $5,600,000 on July 1, 2014. Day Football Co.

had a player contract with Kurtz that is recorded in its books at $7,000,000 on July 1, 2014. On this date, Colt traded Watts to Day for Kurtz and paid a cash difference of $700,000. The fair value of the Kurtz contract was $8,400,000 on the exchange date. The exchange had no commercial substance. After the exchange, the Kurtz contract should be recorded in Colt's books at
Business
1 answer:
vlada-n [284]3 years ago
7 0

Answer:

the amount after the exchange is $6,300,000

Explanation:

The computation of the amount after the exchange is as follows;

= Book value + cash paid

= $5,600,000 + $700,000

= $6,300,000

Since it has no commerical substance so no loss or no gain is recorded

hence, the amount after the exchange is $6,300,000

Therefore the same is to be considered

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Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive?
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Nothing the payments will cease.

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If you started with $100 in the bank and you had $200 after letting it sit there for 5 years, what would be the annual interest
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The annual interest rate is 10 %.

Annual percent fee refers to the yearly interest generated with the aid of a sum it's charged to borrowers or paid to buyers. APR is expressed as a percentage that represents the real yearly price of price range over the time period of a mortgage or profits earned on investment If a man or woman borrows hundred rupees at one rupee interest, for instance, he needs to pay one rupee hobby in keeping with month. So in twelve months, he has to pay ten rupees.

Here,

let the annual interest rate is r

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