Fill a form in 3 easy steps - less than 5 mins.
Posted: April 20th, 2022
The “backbone” of the Internet is made up of large fibre-optic cables that link major cities, countries, and continents. Due to the importance of these links, a number of different companies have overlapping networks that connect these different locations. Global Xing and Quest Communications are two such companies.
The “backbone” of the Internet is made up of large fibre-optic cables that link major cities, countries, and continents. Due to the importance of these links, a number of different companies have overlapping networks that connect these different locations. Global Xing and Quest Communications are two such companies. The following provides information on transactions between these two companies.
Transaction 1: On January 5, 2020, Global Xing sold to Quest a part of its network connecting North and South America. In exchange, Quest sold to Global Xing cables connecting Europe and Asia. Global Xing paid $20 million as part of this transaction.
Transaction 2: On January 9, 2020, Global Xing sold to Quest some cables connecting the cities of Toronto and Montreal. These cables were laid along the shores of Lake Ontario and the St. Lawrence River. In exchange, Global Xing received from Quest cables connecting the same two cities, but running through a more inland route farther to the northwest. The rationale for the exchange was to facilitate servicing and maintenance of the cables. [Note: Fibre-optic cables require little maintenance in general.] In this transaction, Global Xing received $1 million.
The following table provides additional information on the assets exchanged in the transactions described above (in $ millions).
* The fair values of assets given up and received are measured with equal reliability.
Required:
a. Record Transaction 1 on the books of Global Xing.
b. Record Transaction 2 on the books of Global Xing if it is considered to have commercial substance.
c. Record Transaction 2 on the books of Global Xing if it is considered to lack commercial substance.
—–
The Internet’s “backbone” is made up of large fiber-optic cables that connect major cities, countries, and continents. Because of the importance of these connections, a number of companies have overlapping networks that connect these various locations. Global Xing and Quest Communications are two examples of such businesses.
The Internet’s “backbone” is made up of large fiber-optic cables that connect major cities, countries, and continents. Because of the importance of these connections, a number of companies have overlapping networks that connect these various locations. Global Xing and Quest Communications are two examples of such businesses. The following information relates to transactions between these two companies.
Transaction 1: On January 5, 2020, Global Xing sold a portion of its network connecting North and South America to Quest.
You Want Quality and That’s What We Deliver
Our writing team is assembled through a rigorous selection process, where we handpick accomplished writers with specialized expertise in distinct subject areas and a proven track record in academic writing. Each writer brings a unique blend of knowledge and skills to the table, ensuring that our content is not only informative but also engaging and accessible to a general college student audience
Competitive pricing is a cornerstone of our service, where we balance affordability with exceptional quality. In offering the best writers at rates that rival other writing services, we ensure that students can access top-notch content without breaking the bank unnecessarily. Our fair and transparent pricing structure is designed to provide value for money, making us a go-to choice for students seeking high-quality writing services at an affordable price.
Academic integrity is paramount to our writing service, which is why we produce original research and writing content for every paper. Each piece of work is carefully written from scratch, ensuring that every sentence, paragraph, and page is authentic and free from plagiarism. Our rigorous quality control process involves thorough scanning of every final draft, guaranteeing that the content meets the highest standards of originality and academic integrity. With keen attention to citation and referencing, we ensure that every source is properly credited, giving you complete peace of mind. We also have the best plagiarism checkers like safeassign and turnitin thus providing similarity score for each paper.
When you decide to place an order with Dissertation Help, here is what happens: