A machine cost $360,000, has annual depreciation of $60,000 and has accumulated depreciation of $270,000 on December 31, 2012. On April 1, 2013 when the machine has a fair value of $82,500 it is exchanged for a machine with a fair value of $405,000 and the proper amount of cash is paid. The exchange lacked commercial substance.
The new machine should be recorded at
A. 322,500
B. 367,500
C. 397,500
D. 405,000

The gain to be recorded on thee exchange is
A. $7,500 loss
B. 0
C. 15,000 gain
D. 45,000 gain

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)

Tom has brought $150,000 from his pension to a new job where his employer will match 401(k) contributions dollar for dollar. each year he contributes $3,000. after seven years, how much money would tom have in his 401(k)?

1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%