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AleksAgata [21]
2 years ago
6

A company sold equipment that originally cost $280,000 for $140,000 cash. the accumulated depreciation on the equipment was $140

,000. the company should recognize a:____.
Business
1 answer:
quester [9]2 years ago
3 0

A company sold equipment that originally cost $280,000 for $140,000 cash. the accumulated depreciation on the equipment was $140,000. the company should recognize a $0 gain or loss.

The term depreciation refers to an accounting technique used to spread the cost of a tangible or physical asset over its useful life. Depreciation indicates how much of an asset's value has been used. It allows companies to generate income from the assets they own by making payments over a period of time.

Depreciation is a method of calculating the depreciation of an asset through use, wear and tear, and obsolescence. The value of most assets declines over time after purchase. Organizations should take this loss of value into account when analyzing performance and calculating costs.

Learn more about depreciation here:brainly.com/question/1203926

#SPJ4

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krok68 [10]

Rates for corporate outings is NOT an example of an FPRA rate

Explanation:

The FPRA is an agreement between an entrepreneur and a governmental agency in which some indirect charges are determined over a set period of time. All such rates are price forecasts used for cost agreements and contract changes.

By using an FPRA the contracting system can be accelerated by removing the need for audit and analysis of rates. The Contracting Officer (COO) oversees the prices of the contracting party. The ACO should always be asked any questions about the prices. After a FPRA is reached, a copies of the agreement should always be provided for in any ensuing proposal.

6 0
3 years ago
Hunkins Corporation has provided the following data concerning last month's operations. Purchases of raw materials $ 33,000 Indi
nalin [4]

Answer:

Cost of goods manufactured $ 159,000

Explanation:

Direct materials:

Beginning raw materials inventory $ 14,000

Add: Purchases of raw materials 33,000

Total raw materials available 47,000

Less: Ending raw materials inventory 20,000

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Add: Beginning work in process inventory 57,000

Total 229,000

Less: Ending work in process inventory 70,000

Cost of goods manufactured $ 159,000

Therefore the direct materials cost for the month on the Schedule of Cost of Goods Manufactured is $159,000

8 0
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