Drag the tiles to the correct boxes to complete the pairs. Match the various ways of disposal of business assets to their respective descriptions.
tiles :
like-kind exchange
sale
abandonment
debt repayment
answers
Chez Ltd. Has a warehouse,
which has remained unused
for a long period of time.

Delphi Ltd. hands over
the ownership of its
manufacturing unit to
its lender.

Able Ltd. disposes of its
assets as its depreciated
value is less than its sale
price.

Able Ltd. has a plant, which
it does not use. It gives it to
Delphi Ltd. Delphi Ltd. on the
other hand, hands over the
ownership of its office
premises to Able Ltd.

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same

Double corporation acquired all of the common stock of simple company for