A company bought new heating system for $46,000 and was given a trade-in of $4000 on an old heating system, so the company paid $42,000 cash with the trade-in. The old system had an original cost of $40,700 and accumulated depreciation of $35,400. If the transaction has commercial substance, the company should record the new heating system at:
A. $47,300.
B. $5300.
C. $4000.
D. $42,000.
E. $46,000.
Answer: E
You might also like to view...
The literature suggests that expatriate assignments do offer a number of benefits as well as challenges to MNEs in staffing their foreign operations. Keeping these in mind, are MNEs justified in using expatriates? Could MNEs’ objectives be achieved through alternative means? If so, what are some of the other alternative forms of international assignments?
What will be an ideal response?
In 2014, venture capitalists invested in ____ of seed-stage companies.
a. 15% b. 2% c. 5% d. 8%
Meetings or speeches held by the employer during working hours which employees are required to attend is called ________ speeches
a. captive-audience b. presidential c. mandatory d. in-house
Fax on demand enables an outside party to call an organization and then request information
Indicate whether the statement is true or false.