Business

24 April, 15:45

Amble, inc., exchanged a truck with a carrying amount of $12,000 and a fair value of $20,000 for another truck and $5,000 cash. the fair value of the truck received was $15,000. the exchange was not considered to have commercial substance. at what amount should amble record the truck received in the exchange?

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “Amble, inc., exchanged a truck with a carrying amount of $12,000 and a fair value of $20,000 for another truck and $5,000 cash. the fair ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

When Corey runs out of shampoo he buys whatever brand is on sale at his local CVS drugstore. What is his level of involvement in the purchase decision for shampoo? A. Extensive. B. Limited. C. Moderate. D. Modest. E. Routine.

Adding more people to a project that is falling behind schedule often causes more setbacks because of the increased complexity of communications. a. True b. False

Suppose the dollar value of imports to the U. S. exceed the dollar value of exports from the US. This implies that A. foreigners are holding an excess supply of dollars. B. foreigners have a shortage of dollars. C. U. S.

What is the financial impact on owners when a corporation is sued and loses its case?

Bradley is a new employee in the sales department at a local car dealership. In his first few months on the job, he will be learning the norms and values of the organization. This refers to organizational culture. a. True b. False

New Questions in Business

Should the law allow someone that becomes voluntarily incapacitated through intoxication or other means escape from a contractual obligation using incapacity as a defense?

Price per Ticket Quantity Demanded $13 1,000 11 2,000 9 3,000 7 4,000 5 5,000 3 6,000 Refer to the information and assume the stadium capacity is 5,000.

Carol Bates, a young, dynamic, and affluent banker, likes to shop online and try out new products. She likes to keep herself updated about the latest products introduced in the market.

The equilibrium quantity in the market for widgets is 250 per month when there is no tax. Then a tax of $6 per widget is imposed. As a result, the government is able to raise $750 per month in tax revenue.

Watching consumers' actions during the postpurchase evaluation step of the consumer decision-making process led to the development of Chipotle's best-selling product, the Multiple Choice a. fried burrito. b. soft taco. c. taco salad. d.