User Account

All Pages

What is the amount of the gain or loss in a transaction

Assignment Help Accounting Basics
Reference no: EM131961625

Question - On December 31, Strike Company has decided to trade-in one of its batting cages for another one that has a cost of $567,013.00. The seller of the batting cage is willing to allow a trade-in amount of $39,784.50. The initial cost of the old equipment was $294,700.00 with an accumulated depreciation of $250,495.00. Depreciation has been taken up to the end of the year. The difference will be paid in cash. What is the amount of the gain or loss in a transaction with commercial substance?

A. Loss of $4,420.50

B. Gain of $4,420.50

C. Gain of $39,784.50

D. Loss of $39,784.50

Reference no: EM131961625

Questions Cloud

Create your own curriculum vitae : Review the Writing the Curriculum Vitae information on the Purdue Online Writing Lab (OWL) website, and then create your own Curriculum Vitae.
Explain how adverse selection might arise : In the market for used airplanes, explain how adverse selection might arise. What might the buyer or seller do to eliminate adverse selection?
Misuse detection and anomaly detection methods : Discus the training of these models, their advantage and disadvantage and effectiveness in determining zero-day malware.
Advance static analysis and advance dynamic analysis : Contrast the difference between Advance Static Analysis and Advance Dynamic Analysis. In particular when are each applicable and which tools are used.
What is the amount of the gain or loss in a transaction : The difference will be paid in cash. What is the amount of the gain or loss in a transaction with commercial substance
Would the hypothesis be directional or non-directional : What would your choice of test depend on? For the test you select, explain your design and your comparison groups. Would the hypothesis be directional.
Calculate the internal rate of return : HND Business - Business Decision Making - Create a plan for collecting data from students across all campuses - Design a questionnaire for collecting the data
How has it expanded or contracted over its history : How does the organization of this company differ from a smaller business (i.e. sole proprietorship) in how it operates, grows, makes decisions, etc.?
At what value will buildings be recorded by rails company : Rails Company paid $2,500,000 for the net assets of Hawk Corporation and Hawk was then dissolved. At what value will the buildings be recorded by Rails

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd