On December 31, 2015, Heritage Co. traded equipment with an original cost of $200,000 and accumulated depreciation of $30,000 for a new piece of equipment with a fair value of $160,000. In addition, Heritage Co. paid $40,000 cash. Assume the exchange lacks commercial substance. What should Heritage Co. record as the cost of the new asset? Select one: O a. $200,000 O b. $160,000 O $120,000 O d. $130,000 O e $170,000

Answers

Answer 1

The cost of the new asset that should be recorded by Heritage Co. is $170,000. When a company makes an exchange transaction that has commercial substance, it recognizes the difference between the fair value of the asset received and the fair value of the asset given up as a gain or loss in the income statement.

When a company makes an exchange transaction that lacks commercial substance, it recognizes the difference between the fair value of the asset received and the carrying value (book value) of the asset given up as a gain or loss in the income statement.

Here, Heritage Co. exchanged equipment with an original cost of $200,000 and accumulated depreciation of $30,000, for a new piece of equipment with a fair value of $160,000 and paid cash of $40,000. The $40,000 cash paid will not affect the cost of the new equipment since it is an additional payment.

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Related Questions

If Martha set a goal for employees to sell $60,000 of merchandise during the month of December and give them a directive to re-organize the back room under the same deadline then employees my question which of the five essential go accomplishment factors
1. time bound
2.specificity
3.relevancy
4. measurability
5. all of the above

Answers

The employees might question this element of the five essential goal-accomplishment factors: 3. relevancy.

What is a SMART goal?

A SMART goal can be defined as a well-established tool that can be used by an individual, a project manager or business organization to plan (create), track, and achieve (accomplish) both short-term and long-term goals.

Generally speaking, SMART is a mnemonic acronym and it comprises the following elements:

SpecificityMeasurableAchievable or Attainable.Relevancy (realistic).Time bound (timely)

In conclusion, we can reasonably infer and logically deduce that these employees would question the relevancy of this goal-accomplishment because it does not conform with a SMART goal.

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Complete Question:

Martha set a goal for employees to sell $60,000 of merchandise during the month of December and gave them a directive to reorganize the break-room under the same deadline, then employees might question which of the five essential goal-accomplishment factors?

1. time bound

2.specificity

3.relevancy

4. measurability

5. all of the above

When you are a speaker, it is important to know your audience.
A) true
B) false

Answers

Answer:

A) True

Explanation:

You want to know general things about your audience because you won't speak the same way to kindergartners as you would college students. That's just one example.

The answer would be A because it is important to know all your audience.

Promotional discounts are given to stores by manufacturers to place their products in preferred locations in the store and to display their products in a ski manufacturer sells a local ski shop 35 pairs of their new store window: skis for $7000, which is a discount of $2,625. What is the percentage of the discount given to the store? (Round your answer to the nearest whole percent.)

Answers

Answer:

27%

Explanation:

The ski was sold for $7,000 which has a discount of $2,625.

the price before discount is

= $7,000 + $2,625.

=$9,625

the discount as a percentage

=$2,625 / $9,625  x 100

=0.272727 x 100

=27.27%

=27%

3. ______ are defined as goods or services that are required for health and safety.

Answers

Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.

What is the safety of goods?

A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.

Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.

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ANSWER ASAP Which of the following may help you protect against identity theft? A. Carrying your Social Security card at all times B. Clicking on pop-up windows to verify their information C. Contacting your credit card company if you don’t receive bills D. Including your name in your online passwords

Answers

Explanation:

I think A. Because it is the only safe way to protect yourself even in the credit card company people might steal your identity and they dont know. So I say A

Answer:

Its C) contacting your credit card company if you don't receive bills

Explanation:

EDGE 2021

T/F : Limited liability means that even in the event of bankruptcy, stockholders in a corporation can lose no more than the amount they invested in the company.

Answers

Limited liability means that even in the event of bankruptcy, stockholders in a corporation can lose no more than the amount they invested in the company. This statement is true.

In the event of bankruptcy, a corporation's stockholders are only liable for their initial investment, which is known as limited liability. Beyond the investment they have made, owners of a single proprietorship or partnership may be held personally accountable for the obligations the firm has accrued.

The likelihood that a company will be incorporated increases with the amount of cash it is expected to need. The inability of the firm's investors to transfer their ownership interests is one drawback of founding a corporation as opposed to a partnership.

Therefore, This statement is true.

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beth just finished answering all her customer's questions about the software she is pitching for her prospect's business. she asks them if arranging their training for during the day or in the evening would work better for them. what part of the personal selling process is this?

Answers

This is the closing stage of the personal selling process.

After Beth has answered all the customer's questions, she is asking about arranging the training which is a final step in the process of securing the sale.

The closing stage involves asking for the sale or inquiring about the next steps to finalize the deal.

By asking about the training arrangements, Beth is ensuring that the prospect is ready to move forward with the purchase and is taking the necessary steps to ensure their successful implementation of the software.

This stage is crucial as it sets the tone for the ongoing relationship between the customer and the company.

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"What a given group of people appreciates" are their ___________. A. Cultural contexts b. Culture shock c. Cultural education d. Cultural values Please select the best answer from the choices provided A B C D

Answers

Answer:

d. Cultural values

Explanation:

Cultural values are the values and norms that are followed by a distinct society or a group of people. In other terms, values and norms developed within the society to form its basis are said to be the cultural values. The people believe, follow, and appreciate the values. They help in defining the ways of living and leading the life. The behavior, nature, and thinking of the society is influenced or structured as per the cultural values.

Answer:

D

Explanation:

I just took the assignment

You have decided to pursue a career in nursing. You are willing to relocate based on salary differences. The states you are willing to relocate to have the following average hourly wages: NY = $33.55, MA = $33.37, CA = $31.54, and FL $24.58. What is the mean salary for these options?

You have decided to pursue a career in nursing. You are willing to relocate based on salary differences.

Answers

Your answer :

The mean of salary for these options is $30.76\

hope I helped. :)

the third screening of the market screening process focuses on blank forces, such as barriers to entry and government controls. multiple choice question.

Answers

Government regulations and entry barriers are examples of political and legal issues.

Why do you use the word "market"?

Market: A mechanism whereby commodities and services are exchanged as a result of contacts between buyers and sellers, either individually or through intermediaries or institutions. Market makers accept orders from purchasers and then sell stock from their inventories to fill the order after displaying buy and sell prices for a preset amount of stocks.

What does "market" mean in business?

A markets is a place where sellers and buyers can meet and trade services and goods. Markets can be real like a store or they can be electronic like an online retailer. Other examples are black marketplaces,

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HELP!!!
A fashion boutique manager is responsible for doing the annual books for the
shop. The boutique has managed to bring in $100,000 in revenue this year,
and their expenses for the year total $25,000. What profit did the boutique
make for the year?
O A. $40,000
O B. $25,000
O c. $75,000
D. $100,000

Answers

The answer is C. 75,000

Explained: 100,000(total)-25,000(expenses)

the most fundamental question facing an organization is whether to buy domestically or globally . true false

Answers

False, the most fundamental question facing an organization is not simply whether to buy domestically or globally.

The decision to buy domestically or globally depends on various factors and considerations specific to each organization, such as cost, quality, availability, market conditions, and strategic objectives.

The choice between domestic and global sourcing involves evaluating the advantages and disadvantages of each option. Domestic sourcing may offer benefits such as reduced transportation costs, shorter lead times, and better control over quality. On the other hand, global sourcing can provide access to lower-cost labor, a wider range of suppliers, and potential economies of scale. Organizations need to analyze these factors, along with their specific industry dynamics and competitive landscape, to make informed decisions about sourcing strategies.

Therefore, while the decision between domestic and global sourcing is an important consideration for organizations, it is not the singular most fundamental question. The complexity of this decision requires careful analysis and alignment with organizational goals and priorities.

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Identify two major effects of new technology on business during the industrial revolution.

Answers

Answer:

A. Production became faster and less expensive.

B. Workers made more money and worked fewer hours..

Explanation:

How would a past history of criminal charges potentially affect a company's
ability to recruit highly talented employees?

Answers

Answer:The potential employees would view the company with less confidence because of the company’s past history

Explanation:

Answer:

The potential employees would view the company with less confidence because of the company’s past history

Explanation:

PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE

Manni wants to start a paper company. He needs to find a place where he can have access to lumber so he can create his products. Which category of economic resource does he require?



labor




entrepreneurial ability




land

Answers

Answer:

I think land

Explanation:

because he needs the wood to make paper, and wood makes paper so

The Correct Answer: land

PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCEManni wants to start

1) Inflation represents the rate of increase of the average price of goods. If inflation decreases from 10% to 5%, does the average price of goods decrease? Explain.

Answers

No, the average price of goods does not decrease when inflation decreases from 10% to 5%.

Inflation represents the rate of increase in the average price of goods and services over time. When inflation decreases, it means that the rate of price increase has slowed down, but it does not imply a decrease in the average price itself. Even with a lower inflation rate, prices can still continue to rise, albeit at a slower pace.

The percentage of inflation indicates the extent of price increase compared to the previous period. If the inflation rate decreases from 10% to 5%, it means that prices are still increasing but at a slower rate. For example, if an item was priced at $100 at the beginning of the year, with a 10% inflation rate, its price would increase to $110. However, with a 5% inflation rate, the price would increase to $105. While the rate of increase has decreased, the average price of goods has not decreased.

Therefore, it is important to differentiate between a decrease in the inflation rate (a decrease in the rate of price increase) and an actual decrease in the average price of goods, which would indicate deflation.  

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Retail websites can most advisedly grow their email list by:.

Answers

allowing customers to sign up for the email list during the checkout procedure :)

Retail websites can most advisedly grow their email list by giving their customers the option to sign up  their email during the check in.

What are retail websites?

The retail websites are websites that offer products for sale to the public. They can be owned and operated by individual retailers or by larger companies that offer products from multiple retailers.

These websites typically feature a variety of products, ranging from clothing and electronics to home goods and food. They allow customers to browse and purchase items from the comfort of their own homes, using their computers or mobile devices.

The examples of  retail websites are  Amazon, Walmart. The retail websites can most advisedly grow their email list by giving their customers the option to sign up  their email during the check in.

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Which condition is a result of open competition in a free market system?
A. Poor customer service
B. Government regulation
C. Higher prices
D. Higher quality goods

Answers

A result of open competition in a free market system is higher quality goods (option D).

What is the result of open competition?

Competition is when there are many producers operating in a particular industry. Competition is high in purely competitive markets and low in a monopoly. This is because in a pure competition, there are many producers while there is only one producer in a monopoly.

Due to the high level of competition in an industry, prices would be more likely to be low. This is because producers would want to attract more consumers by fairly pricing their goods. Also, producers would want to offer good customer service in order to retain consumers as there are many competing producers in the market. High quality goods are also a way to attract an retain customers.

A free market system is a market system where prices are set by the forces of demand and supply. There is no government regulation in this type of market.

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Business law
Why is the act of falsifying company records not in line with good business
ethics?
Help

Answers

It’s not a good act because it’s false information, false information can get the business in lawsuits

Answer:

C. Because  it shows lack of honesty

Sharon contributed property to the newly formed QRST Partnership. The property had a $100,000 adjusted basis to Sharon and a $160,000 fair market value on the contribution date. The property was also encumbered by a $90,000 nonrecourse debt, which was transferred to the partnership on that date. Sharon is treated as a general partner. She is allocated 30% of QRST's profits and 20% of QRST's losses. Sharon's basis in the partnership interest after the formation transaction is:

Answers

Answer: $37000

Explanation:

Sharon's basis in the partnership interest after the formation transaction is calculated below:

Adjusted basis of property to Sharon = $100,000

Less: Basis in mortgage = $90000 × (100% - 30%) = $90000 × 70% = $63000

Then, Sharon's basis in the partnership interest after the formation transaction will be:

= $100000 - $63000

= $37000

Employees of Wells Fargo were found out to be creating fake accounts for their customers to improve their measured performance. How might an unclear delineation of decision management-decision control have led to such behavior? How might Wells Fargo and other banks reorganize this process to avoid reoccurrence?

Answers

The Wells Fargo scandal is an example of how unclear delineation of decision management-decision control can lead to unethical behavior. Employees created fake accounts to improve their measured performance. The unclear delineation of decision management-decision control can lead to employees making unethical decisions.

Wells Fargo and other banks can reorganize the process to avoid reoccurrence by improving the management structure and implementing better control measures. Wells Fargo is one of the biggest banks in the United States. In 2016, it was discovered that employees of the bank had been creating fake accounts for their customers to improve their measured performance. This scandal was one of the biggest in the history of the banking industry.

The scandal resulted in the resignation of the CEO, John Stumpf.The unclear delineation of decision management-decision control can lead to unethical behavior. In the case of Wells Fargo, employees were given targets to meet, which were difficult to achieve. They felt under pressure to meet these targets, and they resorted to creating fake accounts to improve their measured performance. This shows that there was an unclear delineation of decision management-decision control in the bank.Wells Fargo and other banks can reorganize this process to avoid reoccurrence.

One way is by improving the management structure. The bank should ensure that there is a clear line of decision management-decision control. This will ensure that employees do not make unethical decisions. Wells Fargo and other banks can also implement better control measures to prevent unethical behavior. They can put in place checks and balances to ensure that employees do not engage in fraudulent activities.

In conclusion, the Wells Fargo scandal is an example of how unclear delineation of decision management-decision control can lead to unethical behavior. Wells Fargo and other banks can reorganize this process to avoid reoccurrence by improving the management structure and implementing better control measures.

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"take hundred now is more valuable than take hundred after one year" explain it​

Answers

Answer:

Today's dollar is worth more than tomorrow's because of inflation (on the side that's unfortunate for you) and compound interest (the side you can make work for you). Inflation increases prices over time, which means that each dollar you own today will buy more in the present time than it will in the future.

Natalie wants to deposit $2,000 into a savings account at a 1.25 percent interest rate. The interest is compounded every six months. How much interest will she earn over two years?

Answers

Answer:

Natalie will earn $50.31 in interest over two years assuming that the interest is compounded every 6 months.

Explanation:

Natalie will earn $50.31 in interest over two years, assuming that the interest is compounded every six months.

Here's how to calculate it:

- First, we need to figure out how many times the interest will be compounded over two years. Since the interest is compounded every six months, there will be four compounding periods per year, or a total of eight compounding periods over two years.

- Next, we can use the formula A = P(1 + r/n)^(nt) to calculate the amount of money Natalie will have in her account after two years, where:

- A is the amount of money in the account after two years

- P is the principal (the initial amount of money deposited)

- r is the annual interest rate (1.25%)

- n is the number of times the interest is compounded per year (4, since it's compounded every six months)

- t is the number of years (2)

Plugging in these values, we get:

A = 2000(1 + 0.0125/4)^(4*2)

= 2000(1.00625)^8

= 2100.31

- Finally, we can subtract the initial principal from the final amount to find the amount of interest earned:

Interest = A - P

= 2100.31 - 2000

= 100.31

Rounding to the nearest cent, Natalie will earn $50.31 in interest over two years.

Answer:

$4050.16

Explanation:

using the formula 2000(1+.0125/2)^2(2) to represent the 6 month period (A=P(1+r/n)^nt) you get 4050.15625 which rouned to the nearest tenth is 4050.16 to represent the change

A recipe for fruit punch call for 7 cup of apple juice for every 5 cup of cranberry juice, and you want to make 48 cup of fruit punch. How many cup of each juice do you need to make a total of 48 cup of fruit punch?

Answers

If the fruit punch calls for 7 cup of apple juice for every 5 cup of cranberry juice, then to make 48 cups of fruit punch you need 28 cups of apple juice and 20 cups of  cranberry juice.

In mathematics, a proportion  is an equation in which there are two ratios are set equal to each other. For example, if there is one guy and four girls, the ratio may be written as 1: 4, which means every 1 guy there are 4 girls.

In this problem, we can write the ratio of apple juice, cranberry juice, and fruit punch as:

apple juice : cranberry juice : fruit punch = 7 : 5 : 12

Now you want to make 48 cups of fruit punch. We can ask, how do we get 48 from 12? It should be multiplied by 4. Hence, all number in the above proportion should be all multiplied by 4.

Thus,

apple juice : cranberry juice : fruit punch = 7 : 5 : 12

                                                                    = (7 x 4) : (5 x 4) : (12 x 4)

                                                                    = 28 : 20 : 48

Hence, you need 28 cups of apple juice and 20 cups of  cranberry juice.

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poulter products reports under ifrs and wrote its inventory value down from cost of $400,000 to net realizable value of $380,000. the most likely financial statement effect of this change is:

Answers

The most likely financial statement effect of writing down the inventory value from $400,000 to $380,000 is as follows:

1. Income Statement: The write-down of inventory will result in a decrease in the company's net income for the period. The amount of the write-down ($20,000 in this case) will be recognized as an expense on the income statement, reducing the company's profitability.

2. Balance Sheet: The write-down will also impact the balance sheet. The inventory value will be reduced by $20,000, reflecting the lower net realizable value. This decrease in inventory value will directly impact the company's assets, specifically reducing the inventory balance.

Overall, the financial statement effect of the inventory write-down will result in a decrease in net income on the income statement and a decrease in the inventory value on the balance sheet. This adjustment reflects a more conservative valuation of the inventory, recognizing that it may not be sold at its original cost due to potential obsolescence, damage, or other factors.

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A financial institution that accepts deposits makes loans and provides other services as a nonprofit organization is called a:
A. Credit Union
B. Retail Bank
C. Title Pawn Lender
D. Payday Lender

Answers

Credit Unions are nonprofit financial institutions that accept deposits, provide loans, and offer other services. As a result, choice (A) is right.

What is meant by a  nonprofit organization?

A nonprofit organization (NPO) or non-profit organization is a legal entity organized and operated for a collective, public, or social benefit, as opposed to an entity that operates as a business with the goal of making a profit for its owners. It is also referred to as a non-business entity,[1] or nonprofit institution,

The non-distribution constraint applies to nonprofit organizations, which means that any surplus funds must be used to further their mission rather than being distributed to other parties.

A wide range of organizations, including certain political organizations, schools, business organisations, churches, social clubs, and consumer cooperatives, are nonprofit. Governments may grant tax-exempt status to nonprofit organizations, and some may be eligible for tax-deductible donations. However, an organization can establish as a nonprofit organization without obtaining tax-exempt status.

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Why is lying or exaggerating on your resume, job application, or during an interview wrong? Why might someone choose to do this? What will most likely happen if the prospective employer finds out about the lie or exaggeration?

Answers

Lying or exaggerating on your resume, job application, or during an interview is wrong because it is unethical, dishonest, and undermines the trust between the applicant and the prospective employer. It can also lead to serious consequences if the falsehood is discovered.

One reason someone might choose to lie or exaggerate on their job application or during an interview is because they believe it will increase their chances of getting hired. For example, they may lie about their qualifications, work experience, or education to appear more qualified for the position. They may exaggerate their accomplishments or job responsibilities to make themselves look more impressive.

However, if the prospective employer discovers the lie or exaggeration, it can lead to serious consequences, such as being disqualified from consideration for the job, being fired if already hired, and damage to their professional reputation. In some cases, it may even result in legal action or criminal charges.

In addition to the potential legal and professional consequences, lying or exaggerating on a job application or during an interview can also harm the individual's self-esteem, credibility, and integrity. It can create a cycle of dishonesty that ultimately undermines their ability to succeed in their career.

Overall, it is important to be honest and transparent throughout the job application and interview process. Even if it means admitting to a lack of experience or qualifications, it is better to be upfront about it than to lie or exaggerate. By doing so, individuals can build trust with prospective employers and establish a foundation for a successful and rewarding career.

Which of the following crimes, by definition, involves the use of fear or Force

Answers

Robbery uses fear or force because you are forced to give up your property or threatened with injury

Hope that’s makes sense

Which of the following best describes a stock.

A) An incredibly stable investment that is always a safe investment
B) Is insured by the FDIC
C) Represents a share of ownership of a corporation
D) Only sold in the United States

Answers

Answer: C

Explanation: A stock represents a share of ownership of a corporation. Stocks are bought by people so they can get money. If the company's stock they by it from goes well, they get money as well as interest. The answer is C. Hope this helps!

from an investor's point of view, corporate bonds offer less risk than government bonds.True or false?

Answers

From an investor's point of view, corporate bonds offer more risk than government bonds is a false statement.

Corporate bonds have a lower rating than government bonds, and their market value is more subject to changes in economic conditions.Corporate bonds have a high risk element in them which means investors are more likely to experience loss than gain when investing in them. When buying a corporate bond, investors are effectively lending money to the company, and in return, the company pays a fixed rate of interest, known as the coupon rate, over the life of the bond.Corporate bonds are issued by private sector companies to raise funds for their operations, expansion, and other business objectives. In contrast, government bonds are issued by national governments to finance their spending and development projects.In conclusion, the given statement "from an investor's point of view, corporate bonds offer less risk than government bonds" is False.

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He mixes a liquid drink mix with water to create his own special blend.Jerome usually uses 8 cups of water and 3 cups of drink mix. Tomorrow, there is a road race in town, however, and Jerome thinks hell be able to sell a lot more of his energy drinks than usual. Jeromes brother told him to add one cup of water for every one cup of drink mix he added to keep the ratio of water to drink mix the same and still increase the total amount of energy drink. Jeromes sister told him to multiply both the amount of water and the amount of drink mix by the same number to keep the ratio the same and still increase the total amount of energy drink.Who is correct: Jeromes brother or Jeromes sister?As you complete the task, keep this question in mind: Based on what you know about ratios, what do you think the answer will be?Directions:Complete each task, reading the directions carefully as you do. You will be graded on the work you show, or your solution process, in addition to your answers. Make sure to show all your work and to answer each question as you complete the task. Type all of your work into this document so you can submit it to your teacher for a grade. You will be given partial credit based on the work you show and on the completeness and accuracy of your explanations.Your teacher will give you further directions on submitting your work. You may be asked to upload the document, e-mail it to your teacher, or hand in a hard copy.Now lets get started! Step 1: Finding the part-to-part and part-to-whole ratiosTo make his special energy drink, Jerome uses 8 cups of water and 3 cups of drink mix. What is the ratio of water to drink mix? (2 points) What is the ratio of drink mix to water? (2 points) What is the ratio of drink mix to mixed energy drink? (2 points) What is the ratio of water to mixed energy drink? (2 points)Step 2: Testing Jeromes brothers approachJeromes brother told him to add one cup of water for every one cup of drink mix he added to keep the ratio of water to drink mix the same and still increase the total amount of energy drink. Complete the table below. (2 points)Original Ratio+1+2+3+4Drink mix (cups)34Water (cups)89b) Is Jeromes brother correct? Explain why or why not, using examples from the ratio table to support your argument. (4 points)Step 3: Testing Jeromes sisters approachJeromes sister told him to multiply both the amount of water and the amount of drink mix by the same number to keep the ratio of water to drink mix the same and still increase the total amount of energy drink. Complete the table below. (2 points)Original Ratio1234Drink mix (cups)3Water (cups)8 Is Jeromes sister correct? Explain why or why not, using examples from the ratio table to support your argument. (4 points)Step 4: Calculating the right recipe for JeromeTwenty-two people are running in tomorrows road race and Jerome thinks they will each want two cups of energy drink. How many cups of energy drink does Jerome need to make? (1 point) How much water and how much drink mix should Jerome use to make enough energy drink for all the runners? Create a table to show your work and explain your results in writing. (4 points) why do the themes in fables tend to be simpler and easier to determine? What document was created by the French in the Enlightenment?