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Pavel [41]
2 years 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]2 years 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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8 0
3 years ago
Other things the same, which bond would you expect to pay the lowest interest rate?
Elis [28]

Answer:

d) a bond issued by the U.S. government

Explanation:

A bond issued by the US government will be expected to pay the lowest interest rate because the default risk is almost 0 with the US government which means that it is a risk free investment for the lender. The investor will be willing to lend money to US government at the lowest interest rate out of all the options because it is the safest investment therefore the investor's required rate of return is the lowest for US government.

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3 years ago
Please answer the question posted in the image
GarryVolchara [31]

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Explanation:

8 0
3 years ago
First National Bank charges 13.6 percent compounded monthly on its business loans. First United Bank charges 13.9 percent compou
melomori [17]

Answer:

First National EAR 14.48%

First United EAR 14.38%

Explanation:

Calculation to determine Calculate the EAR for First National Bank and First United Bank.

Using this formula

EAR = [1 + (APR / m)]m − 1

Let plug in the formula

First National EAR = [1 + (.136 / 12)]12 − 1

First National EAR= .1448*100

First National EAR=14.48%

First United EAR = [1 + (.139 / 2)]2 − 1

First United EAR = .1438*100

First United EAR = 14.38%

Therefore the EAR for First National Bank and First United Bank will be :

First National EAR 14.48%

First United EAR 14.38%

8 0
3 years ago
Prezas Company's balance sheet showed total current assets of $4,401, all of which were required in operations. Its current liab
Darina [25.2K]

Answer:

$3,176

Explanation:

Computation of net operating working capital

Using this formula

Net operating working capital=Current assets less ( Current liabilities less Notes payable)

Where,

Current assets=$4,401

Current liabilities =($975+$600+$250=$1,825)

Notes payable =$600

Let plug in the formula

Net operating working capital=$4,401-($1,825-$600)

Net operating working capital=$4,401-$1,225

Net operating working capita=$3,176

Therefore the Net operating working capital or NOWC will be the amount of $3,176

7 0
3 years ago
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