Big lake boat tours sold off one of their tour boats that

Assignment Help Accounting Basics

Reference no: EM13614476

Big Lake Boat Tours sold off one of their tour boats that was toosmall to meet the current needs of business.The boat was sold toAbe's Used Boats for $25,000. Big Lake book value of the boat was$15,000.The boat, which turned out to be a collector's item, wassold two weeks later by Abe to Sam Boat Tours for $150,000. Explain the difference between the two transactions from the standpoint ofthe seller. Use the component elements of income to support theanswer.

Reference no: EM13614476

Questions Cloud

Determine the values of the friction factor corresponding : chemical civil and mechanical engineers must often determine the power required to pump a fluid through a series of

Widgets inc uses the straight-line method to depreciate : widgets inc uses the straight-line method to depreciate assets in determining its finacials profit. widgets also

Determine the reduction in the exit temperature of the : the compression stages in the axial compressor of the industrial gas turbine are close coupled making intercooling very

As reported by a spokesperson for southwest airlines the : as reported by a spokesperson for southwest airlines the no-show rate for reservations is 16. in other words the

Big lake boat tours sold off one of their tour boats that : big lake boat tours sold off one of their tour boats that was toosmall to meet the current needs of business.the boat

Consider a normal distriubtion with mean 5 and standard : consider a normal distriubtion with mean 5 and standard deviation 2a. sketch the associated normal curveb. write the

The refrigerant leaves the condenser at 07 mpa 26 degc : consider a non-ideal vapor-compression cycle where refrigerant 134a flows at a rate of 0.05 kgs. the refrigerant enters

An american roulette wheel consists of 38 numbers of which : an american roulette wheel consists of 38 numbers of which 18 are red 18 are black and 2 are green. when the roulette

On january 2 2001 the wilcox studios leased six : on january 2 2001 the wilcox studios leased six computersfor use in the engineering department. the lease period is for

User Account

All Pages