A company traded an old forklift for a new forklift, receiving a $13,500 trade-in allowance 132 Copyright ©2018 McGraw-Hill and paying the remaining $47,200 in cash. The old forklift had cost $43,000, a 5-year useful life and a $5,000 salvage value. Straight-line accumulated depreciation of $27,200 had been recorded as of the exchange date.
1. What was the book value of the old forklift on the date of the exchange?
2. What amount of gain or loss (indicate which) should be recognized in recording the exchange, assuming the transaction has commercial substance?
3. What amount should be recorded as the cost of the new forklift?
In this case, the new forklift should be recorded at its market value of $60,700.
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The Fed makes an open-market purchase of $5 million in an economy in which no bank holds excess reserves and the assumptions of the simple multiplier hold with a reserve requirement of 8 percent. Draw up a table to show the amount of new deposits in each new bank (show the amounts in the first five of them), the additional reserves held by that bank, and the loans made by that bank, as each successive bank lends out its excess reserves. Finally, calculate the total amount of new deposits, of additional reserves, and of loans made in the economy.
What will be an ideal response?
Most job refusal letters ________
A) use the indirect strategy B) give concrete reasons for not hiring the candidate C) provide as much information as possible D) mention the name of the person who was hired for the position
Using the fixed-time-period inventory model, and given an average daily demand of 300 units, 4 days between inventory reviews, 5 days for lead time, 1,200 units of inventory on hand, a z of 1.96, and a standard deviation of demand over the review and lead time of 12 units, what quantity should be ordered?
Fill in the blank(s) with the appropriate word(s).
If you owe the lending institution more at the end of the year than you did at the beginning of the year, you have negative amortization
Indicate whether the statement is true or false.