1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Erick is planning to invest $500 at the end of year one, 800 at the end of year two, and 900 at the end of uear three at 4.5 per
UkoKoshka [18]

Answer:

Final value= $2,282.013

Explanation:

Giving the following information:

Erick is planning to invest $500 at the end of year one, 800 at the end of year two, and 900 at the end of year three at 4.5 percent interest.

To calculate the total final value of the investment, we need to use the following formula for each deposit:

FV= PV*(1+i)^n

Deposit 1= 500*1.045^2= 546.013

Deposit 2= 800*1.045= 836

Deposit 3= 900

Final value= $2,282.013

4 0
3 years ago
Robyn and Austin are co-owners of a tract of land that they plan to sell one day. A court would likely find that their co-owners
uranmaximum [27]

Answer:

d) joint property ownership

Explanation:

A partnership is created by two or more individuals who combine resources, skills, and energies to start a business. The motive for starting the business is profits.  The partnership deed guides the formation of a partnership business. Partners may also draft an agreement on how they will share profits, losses, or assets should be business be dissolved.

Partners contribute capital required to start and operate the business. The capital contributed may be in the form of cash, assets, or properties.  The contributed capital becomes part of the business assets. The assets are registered under the partnerships' name. For Robyn and Austin, the land will be in the name of their business if they have a partnership business.  But if they jointly own the land, a court may rule that they are not in a partnership business.

8 0
3 years ago
Housing expenses are commonly referred to as piti. what does piti stand for?a.principal, income, taxes, investmentb.payment, inv
Rasek [7]

Correct option is d : principal, interest, taxes, insurance.

Housing expenses are commonly referred to as piti. piti stand for principal, interest, taxes, insurance.

Principal, interest, taxes, insurance or in other words  PITI are the sum components of a mortgage payment. Specially, components of the mortgage payment consists of the principal amount, loan interest, property tax, as well as  the homeowners insurance and private insurance premiums mortgage.

PITI is generally quoted on the monthly basis. It  is then compared to a borrower's monthly gross income for computing the front-end and back-end ratios of any individual.

To know more about PITI here:

brainly.com/question/1395659

#SPJ4

4 0
1 year ago
Quality air, a company that builds airplanes, typically orders parts for its airplanes from other companies. _______ is the prac
swat32
Outsourcing is the common practice of many companies quality air is using, also defines as <span>using suppliers outside the company to provide goods and services. Outsourcing is a practice of quality air, a company that builds airplanes, typically other parts of airplanes from other companies.</span>
3 0
3 years ago
A government's Statement of Revenues, Expenditures, and Changes in Fund Balances reflected expenditures for debt service in the
Westkost [7]

Answer:

D) $1,000,000 increase

Explanation:

The computation of the change in net position would be shown below:

= Expenditures for debt service - Interest - proceeds of bonds

= $12,000,000 - $7,000,000 - $4,000,000

= $1,000,000

As the interest and the proceeds of bond is already included in the expenditure for debt service, so for accurate amount, we have to deduct these two items. Since the expenditure for debt increase is more than the total of other items, so it would increase in net position

3 0
3 years ago
Other questions:
  • A symbol or mark may act as an individual's signature as per the Statute of Frauds and the UCC's requirement that a written cont
    9·2 answers
  • Allison spends a lot of time socializing with friends on facebook, downloading movies, and completing schoolwork. but her older
    8·1 answer
  • Vernon, the chief human resources officer at a consultancy firm, prepares a plan formally detailing the dos and don'ts of the co
    6·2 answers
  • Are you a people person? Do you like to join clubs, help others, give instructions, influence decisions, or plan social events?
    12·1 answer
  • To some people, speaking in public is not a stressor. <br><br> A. True B. False
    11·1 answer
  • Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct
    13·1 answer
  • What are the opportunity offers by<br>vocational education?​
    5·1 answer
  • Is the South African post office a natural or artificial monopoly?motivate​
    9·1 answer
  • In the context of loss aversion, identify a true statement about sunk-cost fallacy. Multiple Choice People are reluctant to give
    11·1 answer
  • Gdp is $8 trillion. if consumption is $5 trillion, investment is $1 trillion, and government purchases are $2 trillion, then:___
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!