What is the amount of gain or loss on disposal of business, Accounting Basics

+44 141 628 6080
[email protected]

What is the amount of gain or loss on disposal of business

ACME co. paid $110000 for the net assets of comb corp. At the time of the acquisition the followin infomation was available:
Book Value FMV
Current Assets 50000 50000
Bldg 80000 100000
Equip 40000 50000
Liabilities 30000 30000

What is the amount of gain or loss on disposal of business should comb corp recognize?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of gain or loss on disposal of business

Reference No:- TGS058884

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : What is the overhead cost for each unit of job

Assume if the company used a plantwide overhead rate based on direct labor hours, what is the overhead cost for each unit of Job 3175? Of Job 4286?

Q : Concealing cheating exist in the online classroom

The difference may be in the ability to conceal it. So, what unique ways of concealing cheating exist in the online classroom which may not exist in a traditional classroom?

Q : Explain concepts in terms of specialization-trade

Scientists tend not to be very good at running a business, and a lot of times, not very interested in it". Explain these concepts in terms of specialization, trade, opportunity cost and comparative advantage.

Q : Business-level strategy of victory motorcycles

From the e-Activity and the case study, evaluate the business-level strategy of Victory Motorcycles to determine whether you believe the strategy is appropriate to offset forces in the industry. Provide specific examples to support your response

Q : What is the amount of gain or loss on disposal of business

ACME co. paid $110000 for the net assets of comb corp. At the time of the acquisition the followin infomation was available:

Q : Internet international marketing

What were the main ideas recommended and that have the most influence on the Internet international marketing for this firm/product (Processed Meat) in this market (South Korea)?

Q : Major capital improvements

In October of 2011, Mike and Cathy Bennett sold their residence for $550,000. They purchased it in 2000 for $300,000. They made major capital improvements during their 10-year ownership, which totaled $50,000.

Q : Find life y for alternative b-two alternatives is desirable

Determine the life Y for alternative B so that the two alternatives will be equally desirable, assuming an interest rate of 10%.

Q : What is the cost of goods sold for herren, inc.

Herren, Inc. reported the following data regarding costs and inventories for the current year: beginning goods-in-process inventory, $4,000;

1949660

Questions
Asked

3,689

Active Tutors

1445006

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of gain or loss on disposal of business

Reference No:- TGS058884

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the overhead cost for each unit of job

Q : Concealing cheating exist in the online classroom

Q : Explain concepts in terms of specialization-trade

Q : Business-level strategy of victory motorcycles

Q : What is the amount of gain or loss on disposal of business

Q : Internet international marketing

Q : Major capital improvements

Q : Find life y for alternative b-two alternatives is desirable

Q : What is the cost of goods sold for herren, inc.

Which are forms of media bias

Discussion about idea of the tramp stamp

Examine gender inequality on a global scale

What is meant by indigenismo

How sociological models help understand mental illness

Symbolic interactionism took off as a theoretical approach

Review the real-life cat and mouse chase

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of gain or loss on disposal of business

Reference No:- TGS058884

Recent Questions Asked Accounting Basics

Q : What is the overhead cost for each unit of job

Q : Concealing cheating exist in the online classroom

Q : Explain concepts in terms of specialization-trade

Q : Business-level strategy of victory motorcycles

Q : What is the amount of gain or loss on disposal of business

Q : Internet international marketing

Q : Major capital improvements

Q : Find life y for alternative b-two alternatives is desirable

Q : What is the cost of goods sold for herren, inc.

Asked Questions