Business, 29.11.2019 02:31, aeshaalhemri

Hexaco corp. exchanged a piece of land that was being held for investment purposes for an oil rig that it will use in its drilling operations. the land hada carrying value of $230,000 and a fair value of $250,000 on the date of the exchange. the oil rig received in exchange had a fair value of $200,000and, as a result, hexaco received an additional $50,000 in cash in the transaction. how much gain, if any, will hexaco recognize on the exchange?
a. $50,000.
b. $20,000.
c. $4,000.
d. $0

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:30, orteg555a

Clonex labs, inc., uses the weighted-average method in its process costing system. the following data are available for one department for october: percent completed units materials conversion work in process, october 1 53,000 90 % 65 % work in process, october 31 29,000 74 % 52 % the department started 381,000 units into production during the month and transferred 405,000 completed units to the next department. required: compute the equivalent units of production for october.

Answers: 2

continue

Business, 22.06.2019 07:30, maskythegamer

Why has the free enterprise system been modified to include some government intervention?

Answers: 1

continue

Business, 22.06.2019 10:30, pierrezonra

What are the positive environmental trends seen today? many industries are taking measures to reduce the use( _gold, carbon dioxide, ozone_) of -depleting substances and are turning to(_scarce, renewable, non-recyclable_) energy sources though they may seem expensive. choose one of those 3 option to fill the

Answers: 3

continue

Business, 22.06.2019 13:30, bobbycisar1205

Hundreds of a bank's customers have called the customer service call center to complain that they are receiving text messages on their phone telling them to access a website and enter personal information to resolve an issue with their account. what action should the bank take?

Answers: 2

continue

Do you know the correct answer?

Hexaco corp. exchanged a piece of land that was being held for investment purposes for an oil rig th...