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Pavel [41]
1 year ago
15

Sheffield Company's delivery truck, which originally cost $85400, was destroyed by fire. At the time of the fire, the balance of

the Accumulated Depreciation account amounted to $57200. The company received $47500 reimbursement from its insurance company. The gain or loss as a result of the fire was $37900 loss. $19300 gain. $19300 loss. $37900 gain.
Business
1 answer:
alexira [117]1 year ago
4 0

the Accumulated Depreciation account amounted to $57200. $19300 loss as a result of the fire

<h3>What is  Depreciation?</h3>

Because of use, wear and tear, or obsolescence, the monetary value of an asset depreciates over time. Depreciation is the measurement of this decrease. Depreciation, or a decrease in the value of an asset, can be caused by a variety of other factors, such as unfavorable market conditions, etc.

Depreciation in Action - If a company buys a delivery truck for Rs. 100,000 and expects to use it for 5 years, the company may depreciate the asset at a rate of Rs. 20,000 per year for 5 years.

To know more about  Depreciation follow the link:

brainly.com/question/1203926

#SPJ4

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Period costs are a.classified as direct labor, direct material, or factory overhead b.not involved in the production process c.f
goldfiish [28.3K]

Answer:

Not involved In the production process

Eg. Selling expenses or advertising expenses

3 0
3 years ago
Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The F
Valentin [98]

Answer:

$1,027.86

Explanation:

Total Taxes = Federal Income Tax + FICA-SS Tax + FICA-Medicare Tax

Total Taxes = $680.70 + ($4,538.00 × 0.062) + ($4,538.00 × 0.0145)

Total Taxes = $680.70 + $281.36 + $65.80

Total Taxes = $1,027.86

Therefore the total amount of taxes withheld from the Trey’s earnings is $1,027.86

5 0
3 years ago
Global market channels involve a firm producing goods in:______
topjm [15]

Answer:

A. Their home country and exporting them to other countries.

Explanation:

A global market channel generally explains the production of commodities by a certain or group of firms and goods by a home country and exporting them to other countries. This is seen generally in the production of phones, laptops, tv brands refrigerators and a whole lot of products amongst tier 1 or tier 2 countries and are been shipped to lowest their countries and other tier countries. This is seen to boost the economy and international trade friendship of either countries though the country at the recieving end is loosing per capital but at the end, we need each other to grow and live.

3 0
3 years ago
You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the build
Svetlanka [38]

Answer:

The opportunity cost = $2.5

Explanation:

Given:

You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the building in each use is $2,000; $3,000; $4,000; and $5,000, respectively.You decide to open a hardware store.

<u>Question asked:</u>

The <u>opportunity cost of using this </u><u>building for a hardware store</u> ?

<u>Solution:</u>

As we know:

Opportunity\ cost =\frac{What\ you\ sacrifice}{What\ you\ gain} \\ \\

What you sacrifice = Value of a cafe + Value of a craft store + Value of a bookstore

                              = $2000 + $3000 + $5000 = $10,000

What you gain = Value of a hardware store

                        = $4000

Thus, the opportunity cost of using this building for a hardware store is $2.5

7 0
2 years ago
Beach bake, a small maker of a new sunscreen, needs financing to build a warehouse. the owner wants to avoid personal loans. wha
Helen [10]

Beach Bake, a small maker of a new sunscreen, needs financing to build a warehouse. The owner wants to avoid personal loans. Asset-based financing I would recommend.

What is asset based financing?

Working capital and term loans are given to businesses using a specific technique called asset-based finance. As collateral, it uses real estate, accounts receivable, machinery, equipment, and inventories. When a loan to a corporation is backed by one of the company's assets, it is effectively referred to as a secured loan.

How do asset-based loans work?

Asset-based lending refers to a loan or line of credit given to a company and secured by a piece of property. Inventory, equipment, accounts receivable, and other balance-sheet assets are just a few examples of the different types of collateral utilized in asset-based lending.

Learn more about secured loan: brainly.com/question/17077155

#SPJ4

5 0
1 year ago
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