subject
Business, 25.10.2019 19:43 ShayMoore

On january 1, 2017, sandhill corporation sold a building that cost $258,210 and that had accumulated depreciation of $105,500 on the date of sale. sandhill received as consideration a $248,210 non-interest-bearing note due on january 1, 2020. there was no established exchange price for the building, and the note had no ready market. the prevailing rate of interest for a note of this type on january 1, 2017, was 9%. at what amount should the gain from the sale of the building be reported? (round factor values to 5 decimal places, e. g. 1.25124 and final answer to 0 decimal places, e. g. 458,581.)

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 07:30
Which two of the following are benefits of consumer programs
Answers: 1
question
Business, 22.06.2019 09:40
Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?
Answers: 2
question
Business, 22.06.2019 19:00
12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.
Answers: 1
question
Business, 22.06.2019 20:10
Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken
Answers: 2
You know the right answer?
On january 1, 2017, sandhill corporation sold a building that cost $258,210 and that had accumulated...
Questions
question
Mathematics, 11.06.2021 15:00
question
Mathematics, 11.06.2021 15:00
question
English, 11.06.2021 15:00
question
Biology, 11.06.2021 15:00
question
Physics, 11.06.2021 15:00
question
Social Studies, 11.06.2021 15:00
question
Chemistry, 11.06.2021 15:10
Questions on the website: 13722360