Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - On July 1, 2021, Bulkeyno Inc. exchanged machine with Mawnteyn Company. Bulkeyno's cost to the machine was P576,000 with related accumulated depreciation of P270,000. Its fair market value was P54,000 higher than its book value.
Mawnteyn, on the other hand purchased the machine for P660,000. Carrying value as of the date of exchange was P348,000. Bulkeyno paid Mawnteyn P90,000 for the difference in fair values of the two machines.
1. If the transaction had commercial substance, what was the amount to be recorded by Bulkeyno as the cost of the asset acquired through exchange?
A. 450,000 C. 306,000
B. 396,000 D. 258,000
2. If the transaction was one without commercial substance, what was the amount recorded by Mawnteyn as the cost of the asset acquired through exchange?
A. 450,000
B. 396,000
C. 306,000
D. 258,000
Why was the European Monetary System introduced? What are the factors underlying the European Monetary system? Has the European Monetary System been successful?
The machine can be sold to a buyer for £316,406 at the end of the project. What are the annual incremental tax cash flows
How much of accounts receivable was written off during 2014? Use a T-Acct to figure this out. What was the amount of cash collected on receivables during 2014? Use a T-Acct to figure this out. Why is the "bad debt expense" added to net income in the ..
What is the yield to maturity using the U.S. bond equivalent yield calculation? What is the yield to maturity using the German effective annual yield calculation?
Leverage. A firm has a long-term debt-equity ratio of .4. Shareholders' equity is $1 million. Current assets are $200,000, and the current ratio is 2. The only current liabilities are notes payable. What is the total debt ratio?
What are the disclosure obligations on providers of financial products to retail clients? (Explain key features of relevant codes of practice in regards)
A company offers ID theft protection using leads obtained from client banks. Three employees work 40 hours a week on the leads, at a pay rate of $30 per hour per employee. Each employee identifies an average of 2,500 potential leads a week from a lis..
How much of the research and development cost should be expensed and what amount should be amortised in the year ended 30 June 2020?
Assuming that David's basis in his S corporation stock is $270,000 on the distribution date, discuss any Federal income tax ramifications
Technique Technologies, Inc. started a? defined-benefit plan this year. As part of the union? agreement, it provided $560,000 in retroactive benefits to all employees for their prior? years' service. At the end of the? year, the actuary provided you ..
Brachlan Company's net income last year was $80,000 and its interest expense was $20,000. What the company return on total assets for the year
The estimated amount of the loss from the tornado is $ 100,000 and the related tax effect is 40 percent. Prepare final section of Fellups’s income statement, beginning with income before extraordinary items.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd