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
Ivan
3 years ago
15

Jamison Company reports depreciation expense of $50,000 for Year 2. Also, equipment costing $170,000 was sold for a $6,000 gain

in Year 2. The following selected information is available for Jamison Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.
At December 31 Year 2 Year 1
Equipment $ 660,000 $ 830,000
Accumulated Depreciation-Equipment 468,000 550,000
Business
1 answer:
asambeis [7]3 years ago
8 0

Answer:

$44,000

Explanation:

According to the scenario, computation of the given data are as follow:-

Depreciation on Sold Equipment

Particular                                                 Amount($)

Year 1-Accumulated depreciation         550,000

Year 2-Depreciation                                  50,000

Year 2 –Total accumulated depreciation  600,000

Less-Year 2-Reported depreciation         468,000

Depreciation on sold equipment          132,000

 

Received Cash from the Sale of Equipment

Particular                                                Amount($)

Cost of equipment                                        170,000

Less-Depreciation on sold equipment        132,000

Written down value of equipment        38,000

Add-Profit on sale of equipment                 6,000

Sale price of equipment                         44,000

You might be interested in
A downside of primary research is that it is _____. expensive and time consuming cheap but labor intensive time consuming but sp
Anarel [89]

A downside of primary research is that it is expensive and time consuming. Primary research allows people to find more inde pthinformation on a research topic or subject however, it is very expensive. Primary research is research that is new and very specific in the field they are researching. Primary research can be interviews, focus groups, surverys or other search ways to collect data.

6 0
3 years ago
How many years would it take for money to increase to 3 times the initial amount at an interest rate of 18% per year?
arlik [135]

Answer:

7 years (to the nearest year)

Explanation:

Given that;

A = amount

P= principal

t = time

r = rate

A =3P(given in the question)

Formula for compound interest;

A = P(1 + r)^t

Substituting values;

3P = P(1 + 18/100)^t

3P/P= (1.18)^t

3 = (1.18)^t

log 3 = t log 1.18

t = log 3/log 1.18

t = 0.4771/0.0719

t = 6.6 years

t = 7 years (to the nearest year)

3 0
2 years ago
A ______________ study seeks to discover the differential effects of a range of values on the independent variable on the depend
devlian [24]

Answer: parametric

Explanation:

As a general rule of thumb, when the dependent variable’s level of measurement is nominal (categorical) or ordinal, then a non-parametric test should be selected. When the dependent variable is measured on a continuous scale, then a parametric test should typically be selected. Fortunately, the most frequently used parametric analyses have non-parametric counterparts. This can be useful when the assumptions of a parametric test are violated because you can choose the non-parametric alternative as a backup analysis.

8 0
3 years ago
Six months before filing for bankruptcy, shirley sold her new car to her brother, claude, for $100 so that her creditors could n
Ket [755]
<span>In this case, the transfer could be considered voidable by the trustees. This is because Shirley did not receive the fair value for the car, but simply received a negligible amount as a way of trying to defraud her creditors. In this case, the transfer could be voided.</span>
7 0
2 years ago
Branch managers at First National Bank report to both a retail banking manager and a central operations officer. One of the mana
Rina8888 [55]

Answer: The type of organizational structure that this most closely resembles is the<em><u> Matrix</u></em> structure.

Explanation:

When a group of people in business are put into formal groups based on their   diverse occupational specialties it is a <u><em>matrix structure</em></u>. The groups that are put together based on similar service, products, clients, customers, and the regions that they are from.

The relationships that each person has are usually set up on a reporting grid. They use the grid which is different than a traditional reporting hierarchy. Each manager has a dual reporting relationship with each other. They can work as a regular functional manager and also a product manager.

5 0
3 years ago
Other questions:
  • As the sonic brand grew, troy smith formed a business relationship with charlie pappe. This form of business ownership was a
    15·2 answers
  • What is the four parts of SWOT analysis
    9·1 answer
  • Robin, who is a head of household and age 42, provides you with the following information from his financial records for 2019. R
    7·1 answer
  • On October 1, Oriole Corporation’s stockholders’ equity is as follows.
    7·1 answer
  • On January 1, 20A, two individuals invested $200,000 each to form Reiner Corporation. Reiner had total revenues of $20,000 durin
    11·1 answer
  • All sales are on account. 35% of the sales are collected in the month of sale, 45% in the following month, the remainder in the
    10·1 answer
  • Explain what a trade war is.
    13·1 answer
  • Customer: An entity that describes a customer. An instance occurs for unique customers only using name, date of birth, and login
    15·1 answer
  • What is the process of a decline in interest rates impacts the use of capital and economic growth.
    12·1 answer
  • Describe what lilius, worline, dutton, kanov, and maitlus (2011) found about how the collective capacity for compassion was deve
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!