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Taya2010 [7]
1 year ago
10

Suppose a piece of equipment cost $35,000 and has accumulated depreciation of $10,000. It is sold for $15,000 cash. What is the

journal entry to record the sale of the equipment
Business
1 answer:
Elodia [21]1 year ago
3 0

The amount of the journal entry are as follows:-

Cash                                           $15000

Accumulated Depreciation         $10000

Equipment cost                         $35000

Loss on sale                               $10000

<h3>What is Depreciation?</h3>

An asset loses value over time as a result of use, damage, or obsolescence. Depreciation is the measurement for this decline.

The complete solution is attached below.

Depreciation, or a decline in asset value, can be brought on by a variety of other variables, such as bad market conditions, etc.

Thus the journal entry credit amount is Equipment cost $35000 and Debit amount of the journal entry are Cash $15000 Accumulated Depreciation $10000 and Loss on sale $10000.

Learn more about Depreciation here:

brainly.com/question/15085933

#SPJ1

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A firm has a cost of debt of 7.5 percent and a cost of equity of 16.2 percent. the debt-equity ratio is 0.45. there are no taxes
valentina_108 [34]
About 16.2 percent of the cost of what ?
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3 years ago
A new furnace for your small factory will cost $45,000 and a year to install, will require ongoing maintenance expenditures of $
Anna35 [415]

Answer:

a) NPV = $43,874.65

b) IRR = 24.37%

c) payback period = 5.33 years

d) equivalent annual cost = $6,024.55

e) equivalent annual savings = $13,298.61

f) since the NPV is positive, the equivalent annual savings must be higher than the equivalent annual costs

Explanation:

initial outlay year 0 = -$45,000

net savings year 1 = -$1,400 + (4,200 x $2) = $7,000

net savings year 2 = -$1,400 + (4,200 x $2.50) = $9,100

net savings year 3 = -$1,400 + (4,200 x $3) = $11,200

net savings years 4 - 20 = -$1,400 + (4,200 x $3.50) = $13,300

discount rate = 12%

using a financial calculator:

NPV = $43,874.65

IRR = 24.37%

payback period = 5.33 years

equivalent annual cost = (present value of costs x 12%) / / [1 - (1 + 12%)⁻ⁿ] =[($45,000 + $10,457.22) x 12%] / [1 - (1 + 12%)⁻ⁿ] = $6,654.87 / 0.89633 = $7,424.57

equivalent annual savings = (present value of savings x 12%) / / [1 - (1 + 12%)⁻ⁿ] = ($99,332.87 x 12%) / / [1 - (1 + 12%)⁻ⁿ] = $11,919.94 / 0.89633 = $13,298.61

4 0
3 years ago
The main goal of the cost budgeting process is to:
Delicious77 [7]
To estimate and control project cost within the approved budget and to achieve the stated goals of the project.
5 0
3 years ago
An economy's production possibilities frontier:​ Select one:
Afina-wow [57]

Answer:

The correct answer is c. ​is based on simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and economic growth.

Explanation:

The production possibilities frontier (FPP) is a graphic representation of the maximum quantities of production that an economy can obtain in a given period using all the resources it has available.

In an economy that has thousands of products, the alternatives to produce one good or another and how much of each are very large. When an alternative is chosen, it means that other possibilities are being renounced. The relationship between what we choose and what we give up is the opportunity cost.

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3 years ago
Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and sna
gulaghasi [49]

Answer:

Floor ready shipment

Explanation:

Floor ready shipment is the one which is already pre tagged and pre ticketed with all the details which is necessary for the retail store before it reach to the store.

In this case, Colin receive delivery and when open the containers he finds that the items are priced and packaged. So, it is a floor ready shipment.

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