Posted: April 20th, 2022

The “backbone” of the Internet is made up of large fibre-optic cables

The “spine” of the Internet is made up of large fibre-optic cables that hyperlink main cities, international locations, and continents. As a consequence of the significance of these hyperlinks, a quantity of completely different firms have overlapping networks that join these completely different areas. International Xing and Quest Communications are two such firms.
The “spine” of the Internet is made up of large fibre-optic cables that hyperlink main cities, international locations, and continents. As a consequence of the significance of these hyperlinks, a quantity of completely different firms have overlapping networks that join these completely different areas. International Xing and Quest Communications are two such firms. The following supplies data on transactions between these two firms.

Transaction 1: On January 5, 2020, International Xing offered to Quest a component of its community connecting North and South America. In alternate, Quest offered to International Xing cables connecting Europe and Asia. International Xing paid $20 million as half of this transaction.

Transaction 2: On January 9, 2020, International Xing offered to Quest some cables connecting the cities of Toronto and Montreal. These cables have been laid alongside the shores of Lake Ontario and the St. Lawrence River. In alternate, International Xing obtained from Quest cables connecting the identical two cities, however working by means of a extra inland route farther to the northwest. The rationale for the alternate was to facilitate servicing and upkeep of the cables. [Note: Fibre-optic cables require little maintenance in general.] On this transaction, International Xing obtained $1 million.

The following desk supplies extra data on the property exchanged in the transactions described above (in $ hundreds of thousands).

* The truthful values of property given up and obtained are measured with equal reliability.

Required:

a. File Transaction 1 on the books of International Xing.

b. File Transaction 2 on the books of International Xing if it is thought-about to have industrial substance.

c. File Transaction 2 on the books of International Xing if it is thought-about to lack industrial substance.

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The Internet’s “spine” is made up of large fiber-optic cables that join main cities, international locations, and continents. As a result of of the significance of these connections, a quantity of firms have overlapping networks that join these varied areas. International Xing and Quest Communications are two examples of such companies.
The Internet’s “spine” is made up of large fiber-optic cables that join main cities, international locations, and continents. As a result of of the significance of these connections, a quantity of firms have overlapping networks that join these varied areas. International Xing and Quest Communications are two examples of such companies. The following data pertains to transactions between these two firms.

Transaction 1: On January 5, 2020, International Xing offered a portion of its community connecting North and South America to Quest.

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