Wall corporation exchanges old equipment for new equipment. the original cost of the old equipment was $100,000, and its accumulated depreciation at the date of exchange was $60,000. the new asset received had a fair value of $80,000 and a book value of $65,000. the journal entry to record this exchange will include which of the following entries? credit gain on exchange of asset $4000 credit equipment $100,000 debit accumulated depreciation $60,000 debit equipment $80,000 debit equipment $65,000 credit equipment $80,000 credit accumulated depreciation $60,000

Malcolm has several receipts from recent transactions that he entered in his records. the receipts include an atm receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00 when he finishes entering his transactions, malcolm realizes that his balance is incorrect. assuming that malcolm had no beginning balance, what should his correct balance be?

The framers of the us constitution created a system of government that established branches of government set forth the powers of such a branches and placed limits on those powers what are the benefits of such a system? are there any problems associated with such a system?

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out