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.
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<u>Calculation of Days Payable Outstanding:</u>
Days Payable Outstanding can be calculated using the following formula:
Days Payable Outstanding = (Accounts
Payable *365) / Cost of Goods Sold
= (8,773*365)/45,821
= 69.88
Hence, Days Payable Outstanding is 69.88 days. We can say that it takes on average<u> 69.88 </u>days to the company to pay off its suppliers during the year.
Answer:
(C) Supply of bicycles will shift to the left.
Explanation:
A change in supply results to a shift in the supply curve. A decrease in the change in supply, which is caused by an increase in price will shift the supply curve left.
A testamentary trust could be established to oversee the charitable asset distribution in accordance with the decedent's desires.
A Testamentary Trust: What Is It?
A trust that is created in line with the directions in a last will and testament is known as a testamentary trust. A trust is a fiduciary arrangement that enables a trustee—a third party—to manage resources on behalf of the trust's beneficiaries.
A person's instructions for creating a testamentary trust may be included in their will, allowing the trustee to disperse their assets to the designated beneficiaries. A testamentary trust, however, is not established until the person has gone away. Additionally, a testamentary trust may appear more than once in a will.
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Answer:
The correct answer is A. Life-cycle costs
Explanation:
In the life cycle of costs, all the costs associated with the production of a good or the provision of a service over a given period of time interfere. For this reason, professionals in charge of this area should consider not only the information directly related to production, but also the costs associated with the maintenance of the product during its useful life.