Difference between carrying amount of asset

Reference no: EM13148070

Scott Co. exchanged similar nonmonetary assets with Dale Co. No cash was exchanged. The carrying amount of the asset surrendered by Scott exceeded both the fair value of the asset received and Dale's carrying amount of that asset. If the transaction lacks commercial substance, Scott should recognize the difference between the carrying amount of the asset it surrendered

Reference no: EM13148070

Questions Cloud

What other explanations might be possible : Using production theory as a basis, is the CEO correct in his assumption that lazy workers or ineffective supervisors are to blame for the decline in productivity? What other explanations might be possible?

New wages increase or decrease : wages decrease by 15%. by what % do the new wages increase or decrease. 3. divide 3420 into two parts such that one part is 28% more.

Calculate numerical summaries-measures of central tendency : Calculate numerical summaries including measures of central tendency such as mean and median and measures of variation including range and standard deviation.

Difference between carrying amount of asset : The carrying amount of the asset surrendered by Scott exceeded both the fair value of the asset received and Dale's carrying amount of that asset. If the transaction lacks commercial substance, Scott should recognize the difference between the car..

Indicate the direction of mass action of co2 : There is an unfortunate individual whose carbonic anhydrase (CA) does not function properly. In order to explain in one way what effect this would this have, focus on the red blood cell in the systemic circulation.

Finding net income of a company : Knox Corp. plans to sell 1,000 units in 2011 at an average sale price of $40 each. Cost of goods sold will be 40% of the sale price. Depreciation expense will be $2,500, interest expense $1,500, and other expenses will be $3,000. Wessel's tax rate..

When pam does not pay the loan : Pam borrows $5,000 from Quality Auto Sales to buy a car. When Pam does not pay the loan or return the car, Quality wants to transfers the right to the payment to Rapid Collection Agency. Rapid agrees to pay Quality for this right, but for a price tha..

Calculate the enthalpy change : A calorimeter contains 27.0 mL of water at 11.0 C. When 2.10 g of X (a substance with a molar mass of 74.0 g/mol) is added, it dissolves via the reaction X{(s)}+H_2O{(l)} -> X{(aq)}

User Account

All Pages