Ask Question
BusinessBusiness
28 October, 21:36

Vijay sells land and receives $5,000 cash, a motorcycle worth $2,000, two tickets to the Super Bowl with a total face value (cost) of $800 but worth $1,200, and the buyer assumes the mortgage on the land of $12,000. What is Vijay's amount received in this transaction? a. $5,000b. $7,800c. $8,200d. $19,800e. $20,200

+3
Answers (1)
  1. 29 October, 01:01
    0
    The correct answer is E

    Explanation:

    The amount which is received or collected by Vijay in the transaction is as follows:

    Amount received = Cash received by selling land + Selling motorcycle + Tickets of Super Bowl + Mortgage on the land

    where

    Cash received by selling land is $5,000

    Selling motorcycle is $2,000

    Tickets of Super Bowl is $1,200

    Mortgage on the land is $12,000

    Putting the values above:

    = $5,000 + $2,000 + $1,200 + $12,000

    = $20,200
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Vijay sells land and receives $5,000 cash, a motorcycle worth $2,000, two tickets to the Super Bowl with a total face value (cost) of $800 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Assume that a $1,000,000 par value, semiannual coupon US Treasury note with four years to maturity has a coupon rate of 3%. The yield to maturity (YTM) of the bond is 11.00%.
Answers (1)
Do you think it was easy for people in declining manufacturing industries to switch into the service sector? explain.
Answers (1)
Keating Co. is considering disposing of equipment that cost $74,000 and has $51,800 of accumulated depreciation to date. Keating Co. can sell the equipment through a broker for $29,000 less a 5% commission. Alternatively, Gunner Co.
Answers (1)
Jerry Lewis is thinking about purchasing some life insurance. He goes to a company that is owned by shareholders. What type of life insurance company has he gone to? A. A stock life insurance company B. A debt life insurance company C.
Answers (1)
Appreciation of the U. S. dollar will have the following impact on McDonald's: A. lower sales abroad because foreign customers cannot afford McDonalds' products. B. more transfer of ingredients from the U. S.
Answers (1)
New Questions in Business
Why does unoka consult the oracle? what does the oracle tell him?
Answers (1)
Which job title would be given to someone responsible for supervising production in a manufacturing setting?
Answers (1)
If a management team wishes to boost the company's stock price, then it should consider actions to
Answers (1)
On March 15, Year 1, Kathleen Corp. adopted a plan to accumulate $1,000,000 by September 1, Year 5. Kathleen plans to make 4 equal annual deposits to a fund that will earn interest at 10% compounded annually.
Answers (1)
A natural monopoly's preemption of entry by other firms by exploiting its economies of scale is an example of
Answers (2)
Home » Business » Vijay sells land and receives $5,000 cash, a motorcycle worth $2,000, two tickets to the Super Bowl with a total face value (cost) of $800 but worth $1,200, and the buyer assumes the mortgage on the land of $12,000.
Sign Up Forgot Password?