Answer: For an explanation, please refer to the explanation section
Explanation:
recording a journal entry for Patel Products selling a delivery van priced at $20,000 with accumulated depreciation totaling $18,000, while receiving $2,000 cash from the buyer, results in:
December 29, 2019
Account title----- Cash----------Debit $2,000
Account title----Accumulated Depreciation-----Debit $18,000.
Account title------Delivery Van ----Credit $20,000
The equipment's book value at the sale was $2,000, reflecting its original cost of $20,000 adjusted by the accrued depreciation of $18,000. Since Patel received the same $2,000 from the sale of the delivery van, there is no profit from the disposal.
Answer:
just think.....all that’s needed is a little thought XD
but genuinely, the answer is to assess your options
Answer:
Based on the calculations, the amount is $135,000.
Explanation:
Book value of the acquiring company's inventory before the merger = $90,000
Fair value of the acquired inventory = $45,000
Total inventory value post-business combination = $90,000 + $45,000 = $135,000
Thus, the total amount is $135,000
Answer:
d. 15.09
Explanation:
425,000 sales
52,500 AR
within a year consisting of 365 days
Days Sales Outstanding
Average days late
45.09 - 30 = 15.09
on average, customers clear their payments within 45 days.
This means they are paying, on average, 15.09 days later than the given credit terms.
