A debt instrument with no ready market is exchanged for property whose fair market value is currently indeterminable. When such a transaction takes place:. a. the present value of the debt instrument must be approximated using an imputed interest rate.
b. the board of directors of the entity receiving the property should estimate a value for the property that will serve as a basis for the transaction.
c. it should not be recorded on the books of either party until the fair market value of the property becomes evident.
d. the directors of both entities involved in the transaction should negotiate a value to be assigned to the property.

Label each scenario with the term that best describes it. use the midpoint method when applicable. marcel duchamp was a famous artist prior to his death, and was known for his dada artwork, including works such as "soft toilet". all of his original sculptures and paintings go on sale. paul owns a tim horton's, a famous donut and coffee franchise. he is willing to sell as many maple glazed donuts as customers want at a price of $1.00 each, but he refuses to sell any donuts for any price lower than $1.00 . the price of facial tissues rises from $2.85 per box to $3.15 . as a result, p& g increases production from 15 million boxes to 25 million boxes of facial tissue. with the school semester starting for both high school and college, papermate chooses to increase production of pens from 38 million to 42 million after global prices of writing instruments increase from $1.90 a package to $2.10 a package. bright ideas increases its production of lightbulbs by 15% after a 400% increase in the price of fluorescent bulbs.labels: elastic supply; perfectly inelastic supply; perfectly elastic supply; inelastic supply; unit-elastic supply.

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet

Acompany determined that the budgeted cost of producing a product is $30 per unit. on june 1, there were 80,000 units on hand, the sales department budgeted sales of 300,000 units in june, and the company desires to have 120,000 units on hand on june 30. the budgeted cost of goods sold for june would be