Business, 07.05.2021 19:20 brown62

Hamilton, Inc. owned a building that was destroyed in a fire on August 1, 2019. The building had a cost of $400,000 and accumulated depreciation of $150,000 as of the date of the fire. The company received insurance proceeds of $450,000 for the building and used that money plus additional funds to purchase another building for $500,000. Which of the following would be included in the journal entries to record the above transactions?
a. Debit - Building $100,000
b. Credit - Gain $200,000
c. Debit - Loss $250,000
d. Credit - Building $450,000

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:10

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.

Answers: 3

Answer

Business, 22.06.2019 14:20

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?

Answers: 1

Answer

Business, 22.06.2019 23:30

Sally mitchell works as a manager at an environmental organization. she is currently working on a global warming project and decides which tasks related to creating awareness about the issue need to be done. in addition, she is also deciding which members of her team will work on engaging with the public and which will work on lobbying with the government. she is also assigning people as team members to ensure that tasks are undertaken on time. which of the following categories of functions is mitchell undertaking? envisioning organizing controlling planning

Answers: 1

Answer

Business, 23.06.2019 01:30

What is a market? a. a system that allows people or companies to buy and sell products and services b. the number of companies willing to manufacture a specific product c. the ability to buy production materials in large quantities and save on costs d. a product's ability to satisfy a consumer

Answers: 2

Answer

You know the right answer?

Hamilton, Inc. owned a building that was destroyed in a fire on August 1, 2019. The building had a c...

Questions