Business, 22.08.2020 23:01, innocentman69
On December 31, Year 1, JM Co. exchanged a used machine for a new machine from DP Inc. The used machine had a book value of $100,000 ($120,000 cost minus $20,000 accumulated depreciation) and a fair value of $90,000. The new machine had a list price of $150,000, and DP gave JM a trade-in allowance of $ 105,000, with the difference paid in cash. The exchange has commercial substance. 1 Question
2 How much should JM record as the cost of the new machine in Year 1?
3 How much should JM record as a gain (loss), if any, in Year 1?
Situation 2:
On December 1, Year 1, AB Inc. exchanged a used truck for a new truck from LL Co. The used truck had a book value of $57,500 ($75,000 cost minus $17,500 accumulated depreciation) and a fair value of $60,000. In addition to the exchange of the used truck, AB paid LL $8,000. The exchange has commercial substance.
1 Question
2 How much should AB record as the cost of the new truck in Year 1?
3 How much should AB record as a gain (loss), if any, in Year 1?
Situation 3:
On July 1, Year 1, DDC Co. exchanged a used crane for a new crane with ZN Corp. The used crane had a book value of $120,000 ($225,000 cost minus $105,000 accumulated depreciation) and a fair value of $125,000. The fair value of the new crane is $110,000. In addition to the exchange of the used crane, ZN paid DDC $15,000. The exchange lacks commercial substance.
1 Question
2 How much should DDC record as the cost of the new crane in Year 1?
3 How much should DDC record as a gain (loss), if any, in Year 1?
Answers: 2
Business, 21.06.2019 15:00, kprincess16r
Pursuant to the video, if the news reporter had challenged the reasonableness of her detention by the coach store, coach could have claimed the which is also known as merchant protection statutes according to the book.
Answers: 2
Business, 22.06.2019 00:50, emma3216
cranium, inc., purchases term papers from an overseas supplier under a continuous review system. the average demand for a popular mode is 300 units a day with a standard deviation of 30 units a day. it costs $60 to process each order and there is a five−day lead−time. the holding cost for a paper is $0.25 per year and the company policy is to maintain a 98% service level. cranium operates 200 days per year. what is the reorder point r to satisfy a 98% cycleminus−service level? a. greater than 1,700 unitsb. greater than 1,600 units but less than or equal to 1,700 unitsc. greater than 1,500 units but less than or equal to 1,600 unitsd. less than or equal to 1,500 units
Answers: 1
Business, 22.06.2019 03:00, nyceastcoast
How does having a flexible mind you become a better employee? a. it you become more honest toward work. b. it you become a team player. c. it you learn new things that will better your performance. d. it you to finish your work on time. e. it you reach work on time
Answers: 1
Business, 22.06.2019 10:50, lindalu
Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.
Answers: 3
On December 31, Year 1, JM Co. exchanged a used machine for a new machine from DP Inc. The used mach...
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