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natita [175]
2 years ago
9

A fixed asset with a cost of $30,271 and accumulated depreciation of $27,243.90 is sold for $5,146.07. what is the amount of the

gain or loss on disposal of the fixed asset?
Business
1 answer:
pochemuha2 years ago
5 0

The quantity of the advantage or loss on disposal of the fixed asset is $2,184.49 benefit

Solution:

Price of asset = $31,207 - $28,086.30 = $three,one hundred twenty.70

Advantage = $5,305.19 - $3,120.70 = $2,184.forty-nine

The advantage of the disposal of fixed assets is $2,184.49. because the cost of an asset after deducting amassed depreciation is $three, one hundred twenty.70 is less than the offered fee of the asset at $five,309.19 it's miles a benefit.

A fixed asset is an extended-time period tangible asset that a firm owns and makes use of to produce earnings and is not expected to use or sold within a yr. fixed property, also daily long-lived belongings or belongings, plants, and gadgets, are a term used in accounting for property and belongings that can't without difficulty be converted into everyday coins. constant belongings are special from present-day belongings, inclusive of cash or financial institution debts because the latter are liquid assets.

A fixed asset can consist of homes, day-to-day equipment, software program, fixtures, land, machinery, and motors. for example, if an employer sells produce, the delivery trucks it owns and uses are constant belongings. constant belongings are business enterprise-owned, long-term tangible assets, including styles of belongings or devices. these assets make up its operations daily and generate profits. Being a fixed method they cannot be consumed or converted into everyday coins within a year. As such, they're difficult everyday depreciation and are considered illiquid.

Learn more about fixed asset here: brainly.com/question/11209470

#SPJ4

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Although there are some clear disadvantages associated with extending credit to customers, such as bad debt costs, most managers
WITCHER [35]

Answer:

The primary advantage they refer to is additional sales revenue.

Explanation:

Extending credit to customers is generally done through use of credit cards these days. This does allow the customers to buy goods and services on credit and pay later for those goods.

Offering credit is beneficial for both the shopkeepers or merchants and the buyers. Customers do not have to pay cash (as they can run out of cash at times), so they buy more and this increases the sales revenue for the merchants, which becomes the primary advantage for them and outweighs the costs.

5 0
3 years ago
The following items are taken from the financial statements of Cullumber Company for 2022:
Doss [256]

Answer:

                                          Cullumber Company

                                          Balance Sheet

                                          As at 2022

Explanation:                      Amount in $

Current Assets

Accounts Receivable           12,500

Cash                                      13,000

Prepaid Insurance                  6,600

Supplies                                  4,600

Total Current Assets            36,700

Non-Current Assets

Equipment (225,000-36,900)  188,100

Total Assets                            <u>  </u><u>224,800</u>

Liabilities & Shareholders' Equity

Current Liabilities

Accounts Payable                10,600

Notes Payable                      65,000

Salaries Payable                      3,900

Total Current Liabilities           79,500

Equity

Common Stocks                      97,000

Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700)                                          64,300  

Dividends                                   (16,000)

 Total Equity                              145,300

Total Liabilities & shareholders' equity    <u>224,800</u>  

4 0
3 years ago
What are the criticisms of fiscal policy
vesna_86 [32]

Answer:

Fiscal policy is the adjustment of tax rate and government spending that is used to handle current economic situation.

There are several of criticism that usually found on fiscal policies.

- Time Lags.

The effect of fiscal policies could only be felt years after the policies are made. Often times, this goes unnoticed by the citizens of the country, making it look like that the government took no action to handle their economic issues.

- Strengthening foreign influence

One of the things that the government can do to reduce the inflation is by selling government bonds to the public. These bonds can be bought by companies from another countries. This will strengthen that country's influence over US economy.

- It could create a budget deficit for the next government officials.

Government in United States were reshuffled between 2-4 years. While the effect of fiscal policies could need more than 10 years before it actually can be felt.  Sometimes, fiscal policies taken by previous government could create a deficit that had to be handled by the next government after the election.

4 0
3 years ago
Joining a Meetup group in your area allows you to
kherson [118]

Answer:

The correct answer would be A, Find out what your competitors are doing.

Explanation:

A meetup group in an area is a meet and greet event where people of the area meet with each other. New people make acquaintances with each other and come to know about each other.  Already known people share their latest happenings. It is a casual form of meeting where people may know about what their competitors are doing at the moment in their business. This may help you in drawing your upcoming strategies in the market. This is the best way to get to know about the competitors.

7 0
3 years ago
Read 2 more answers
Determine the combined present value as of December 31, 2021, of the following four payments to be received at the end of each o
Alenkasestr [34]

Answer:

The question is incomplete, see the complete question below:

Determine the combined present value as of December 31, 2021, of the following four payments to be received at the end of each of the designated years, assuming an annual interest rate of 8%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1). Find N as well.

Payment   Year Received

          $

       9,000  2022

9,600  2023

11,200  2025

13,400  2027

Combined present value                        33,313.9

Explanation:

Present Value:The worth today of a sum receivable or payable in the future is called Present Value. It is premised on the concept of time value of money- that $1 today is worth more than $1 tomorrow. Why?

Because of the opportunity to invest; if invested, the $1 of today would earn interest so making it worth more than $1 dollar on the maturity day.

To calculate the present value of a future cash flow, we simply adiscount it using an appropriate discount rate which is the required rate of return. The discount rate is 8% in this question.

We can quickly calculate the Present Value (PV) using this formula:

PV = FV × (1+r)^(-n)

where FV - Future value, r- interest rate- 8%, n- number of years.

We can now apply these concepts to this question:

Year                                                        Present Value

2022  9000  × (1.08)^(-1)                        8,333.3

2023   9,600  ×  (1.08)^(-2)                      8230.5

2025   11,300  ×  (1.08)^(-4)                      8305.8

2027    13,400 ×   (1.08)^(-6)                  <u>   8,444.3</u>

Combined present value                        <u>33,313.9</u>

6 0
3 years ago
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