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2 years ago

Have some points anyone i dont care :)

Business

2 answers:

soldi70 [24.7K]2 years ago

5 0

Thank you!! hope you have a nice morning, day , or night!

VARVARA [1.3K]2 years ago

4 0

Answer:

Hey

Explanation:

Thanks so much.............

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Samson Corporation sold the following during the year: Two delivery trucks purchased in March 2016 for $78,000 are sold in June

Marta_Voda [28]

Answer:

Truck = Short term capital loss of $8,000

Land = Long term capital gain of $320,000

Machine = Long term capital loss of $125,000

Building = Long term capital gain of $125,000

Net effect Long term capital gain of $125,000

And Short Term Capital Loss of $8,000

Explanation:

As for the provided information we have,

Sale of Trucks within a few months, as purchased in March and sold in June, therefore,

Sale price - Carrying value = $70,000 - $78,000 = -$8,000

Therefore, it is short term capital loss

Sale of land which is 5 years old, therefore, it will be long term.

Sales price - Carrying value = $400,000 - $80,000 = $320,000

Long term capital gain = $320,000

Machines are old and now depreciated, thus it will be long term

Sale price - carrying value = $75,000 - $200,000 = - $125,000 Long term capital loss

Building purchased 8 years ago will be long term in nature, therefore,

Sale price - carrying adjusted basis = $425,000 - $300,000 = $125,000 Long term capital gain.

Final Answer

Truck = Short term capital loss of $8,000

Land = Long term capital gain of $320,000

Machine = Long term capital loss of $125,000

Building = Long term capital gain of $125,000

Net effect Long term capital gain of $125,000

And Short Term Capital Loss of $8,000

7 0

3 years ago

Parent Inc acquired 90% of Sub Inc on January 1, 20X8. Parent paid 50% of the acquisition price by cash and fund the rest with a

Rainbow [258]

Answer and Explanation:

Please find attached

4 0

3 years ago

. jarell is grocery shopping for his bbq cookout this weekend. he is grilling 1313lb. burgers and expects about 20 people. how m

anzhelika [568]

Jarell is grocery shopping for his bbq cookout this weekend. he is grilling 1313lb. burgers and expects about 20 people. 6.667 lbs. of ground beef should be purchased.

Jarrell should purchase 7 lbs of ground beef.

Number of attendees = 20

Fraction of burger per person = 1/3 lbs

Total fraction of burger required to feed 20 persons :

Number of attendees × fraction per person

20 × 1/3 = 6.667.

Grilling is a cooking method that applies dry heat to the surface of food, usually from the top, bottom, or sides. Grills typically use large amounts of direct radiant heat and are typically used to quickly cook meat and vegetables.

Almost all types of grilling on gas and/or charcoal grills can be divided into three cooking methods: direct, indirect, or combination. As the name suggests, method differences are determined as follows.

Learn more about grilling at

brainly.com/question/13973768

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7 0

1 year ago

The president of a growing engineering firm wishes to give each of 20 employees a holiday bonus. how much needs to be deposited

Ludmilka [50]

Given that: F (Future worth) = $2,500, i (nominal interest rate) = 0.12, compounded monthly = 12 months, years of investment = 1 year, and no. of employees = 20. Compute using the annuity formula: A=Fi/(((1+i)^n)-1). Calculating i = 0.12/12 = 0.01, since it is compounded monthly. Calculating n (total number of compounding) = 1 x 12 = 12, since year of investment is equal to 1. Substituting F=2500, i=0.01 and n=12 to the annuity formula, you will get A=$197.12. Multiply by 20, you will get $3,942.44.

4 0

3 years ago

The adjusting entry to record accrued revenue a.differs from the journal entry to record revenue on account. b.includes a debit

motikmotik

Answer:

Explanation:

To accrue means to grow or to accumulate over time. In accrual accounting, if the revenue recognition criteria are met in the current period, revenue will need to be accrued in the current accounting period even if cash will not been received until a later accounting period.

Accrued revenues is a type of account that require adjustment, to register the unrecorded revenues that have been earned and for which cash has not yet to be received.

The accrual journal entry to record the sale involves a debit to the accounts receivable account and a credit to sales revenue. If the sale is for cash, debit cash instead. The revenue earned will be reported as part of sales revenue in the income statement for the current accounting period.

It is the same for accrued revenue and for revenue on account.

8 0

3 years ago