Solution :
We know that the exchange takes place when the FMV receive is equal to the FMV given up.
Where the FMV = fair market value
The commercial substance means the future cash flows exchange.
The non monetary exchange refers to the cash which is less than 25% of the fair value exchange.
The journal entries for the Santana Corp. when the exchange lack the commercial substance are reported as :
Transaction Debit ($) Credit ($)
Asset(new) 11,000
Accumulated depreciation(old) 9,000
Asset (old) 28,000
Cash 2000
The journal entries for Delaware Corp. when the exchange lacks the commercial substance.
Transaction Debit ($) Credit ($)
Asset(new) 16,000
Accumulated depreciation (old) 10,000
Loss 2500
Assets (old) 28,000
So 20 percent of 35 is 7.
Look at it this way:
20%
20*5=100
35 divided by 5 is 7.
So the sale price we would take7 from 35 to get 28.00 which is your answer.
Ps don't do it the way i did because i already knew the answer,and the way i worked it out worked this one time but there are no gaurentees for the next.
You must be wondering why we subtracted that 7 from 35 and why 7 isn't the full answer. Well, 7 was the factor, basically every 20 percent you would subtract 7. So if it were 40% off it would be 14. Or 60 percent would be 21. You subtract that number from the original price to get the sale which in this case is 28.00
Your answer: 28.00
Hope this helped!:)
Answer:
Explanation: current assets are assets other than fixed asset that a company uses in its day to day operations and are noted in the Balanced sheet of an organisation and they include:
Cash, Account receivable, Inventory, Supplies.
From the above question, the current asset of Buffalo Industries is stated below:
Balanced Sheet (extract)
Current assets :
Cash $97,340
Merchandise inventory $167,950
Supplies. $12,560
Total current asset. $277,850
Performance and productivity, unproductive work habits, organisational citizenship, and absenteeism and turnover are all employee behaviours that managers can affect.
Employee behaviour is the term used to describe how employees act in particular situations or circumstances at work. Employees' behaviour in the workplace is influenced by a variety of factors, but particularly by their own and the organization's cultures.
Employee behaviour is characterised as a person's response to a specific situation at work. Employees must act responsibly at work in order to uphold a positive work environment as well as the respect and admiration of their coworkers. One must follow the rules and regulations at work.
Learn more about employee behavior here:
brainly.com/question/16391201
#SPJ4
Answer: 1 million in British pounds converts to 1221650.00 US Dollars
I hope this helps! :)
