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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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The facts that money must withstand the wear and tear that comes from being used over and over again is a measure of its?
Lemur [1.5K]
I think the correct answer from the choices listed above is option C. <span>The facts that money must withstand the wear and tear that comes from being used over and over again is a measure of its durability. Hope this answers the question. Have a nice day.</span>
3 0
3 years ago
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One advantage of proprietary software versus off-the-shelf software is that _____.
Serjik [45]

(C) the software provides a company a competitive advantage by solving problems in a unique manner

Proprietary software is a special software designed for a specific application and owned by the organization, firm or individual that uses it. Proprietary software can give an organization leverage over competitors, by solving problems in a unique manner, however, off-the-shelf software is mass produced software used by several other organizations, thereby giving other organizations simple and identical problem-solving technique.


6 0
2 years ago
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In a standard cost accounting system, the entry to record purchase of raw materials on account for $13500 when the standard cost
Sedaia [141]

Answer:

a. Debit to raw material inventory for $12,750, debit to material price variance $750 and credit to account payable for $13,500.

Explanation:

Date  Journal Entry                                   Debit      Credit

         Raw Material Inventory                   $12,750

         Material Price Variance                   $750

               Accounts Payable                                     $13,500

3 0
3 years ago
If all resources were perfectly adaptable for alternative uses, the production possibilities curve would:
Svet_ta [14]

Answer:

The correct answer is letter "C": be a straight line.

Explanation:

The Production Possibility Frontier (<em>PPF</em>) aims to determine what the maximum production would be using finite factors. Typically, the higher production of a good implies lowering the production of another. The PPF is represented by a graph with a vertical "X" axis and a horizontal "Y" axis for easiness in understanding.

Thus, if the factors for production were perfectly adaptable, the PPF curve will display a straight line in a graph.

8 0
2 years ago
On January 1, 2020, Korsak, Inc. established a stock appreciation rights plan for its executives. It entitled them to receive ca
kykrilka [37]

Answer:

$570,000

Explanation:

Missing question: <em>"On December 31, 2022,50,000 SARs are exercised by executives. What amount of compensation expense should Korsak recognize for the year ended December 31, 2020"</em>

Amount of compensation expense = [(33-20)*120,000*3/4] - [(30-20)*120,000*2/4]

Amount of compensation expense = [13*120,000*3/4] - [10*120,000*2/4]

Amount of compensation expense = 1,170,000 - 600,000

Amount of compensation expense = $570,000

So. the amount of compensation expense that Korsak should recognize for the year ended December 31, 2020 is $570,000.

8 0
2 years ago
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