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Bonita Football Co. had a player contract with Watts that is recorded in its books at $8380000 on July 1, 2020. Carla Vista Football Co.
Bonita Football Co. had a player contract with Watts that is recorded in its books at $8380000 on July 1, 2020. Carla Vista Football Co. had a player contract with Kurtz that is recorded in its books at $10900000 on July 1, 2020. On this date, Bonita traded Watts to Carla Vista for Kurtz and paid a cash difference of $1090000. The fair value of the Kurtz contract was $12600000 on the exchange date. The exchange had no commercial substance. After the exchange, the Kurtz contract should be recorded in Bonita's books at O $11990000. O $12600000. O $9470000. O $10900000. Vaughn Manufacturing is constructing a building. Construction began in 2020 and the building was completed 12/31/20. Vaughn made payments to the construction company of $3036000 on 7/1, $6300000 on 9/1, and $5840000 on 12/31. Weighted-average accumulated expenditures were O $3618000. O $9336000. O $15176000. O $3093000
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