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s2008m [1.1K]
3 years ago
8

A city paid $40,000 for police cars with the expectation that they would have a useful life of 4 years. After 3 years, the city

sold the cars for $3,000. How should the city account for the sale in the General Fund?
Business
1 answer:
Helga [31]3 years ago
4 0

Answer:

Journal entry

Explanation:

The journal entry is as follows

Cash $5,000

      To other financing source - sale of capital assets $5000

(Being the sale in the general fund is recorded)

For recording this transaction we debited the cash account as it increases the asset account while credited the other financing source - sale of capital assets

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Suppose that demand for a product is Q = 1200 − 4P and supply is Q = −240 + 2P. Furthermore, suppose that the marginal external
eimsori [14]

Answer: 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

Explanation:

Q=1200 - 4P and Q=-240 + 2P

In a free market quantity demand =quantity supplied

1200 -4P = -240 +2P

P =240

Sub P

Q* = 240

Socially optimal quantity is

Marginal social benefit (MSC)= marginal social cost(MSC), including external damage =MEC

MPC= marginal private cost =inverse of supply function

MPC = (1/2)*Q + 120

MEC=12

MSC =(MPC +MEC) = (1/2)Q +120 +12

MSC= MPB where MPB is marginal private benefit = inverse of demand functn

MPB = 300 -(1/4)Q

(1/2)Q + 132 =300 - (1/4)Q

Q° = 224

Difference btw Q* & Q° = 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

4 0
3 years ago
___________ typically refers to the promotion and sale of different versions of a media product across the various subsidiaries
Gelneren [198K]

Answer: Synergy

Explanation:

Synergy is described as the intercommunication in between two or more entities in order to construct a collaborative effect. This effect is known to be greater than the effort that would have be in place , if they were acting alone. In comparison to the cross media concurrence, the synergy takes place when the media commodity is being advertised across the other platforms. Example, a commodity being promoted in a movie.

5 0
3 years ago
Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $1, authorized 50,000 shares. The following tra
Zolol [24]

Answer:

Required:

Prepare the stockholders’ equity section of the balance sheet at December 31.

Explanation:

check the file attached for the  balance sheet at December 31.

Download docx
7 0
3 years ago
FOB ______ is the term used when ownership of the goods transfers to a buyer when the goods arrive at the buyer's place of busin
Over [174]

FOB <u>destination</u> is the term used when ownership of the goods transfers to a buyer when the goods arrive at the buyer's place of business.

<h3>What is FOB destination?</h3>

FOB which full meaning is freight on board is a form of goods or product shipment in which the seller is fully incharge or in possession of the goods until the goods reach the buyer destination in which  the ownership of the goods is then transfers to a buyer.

Once the ownership of the goods transfers to a buyer, this means that the buyer is the owner of the goods and is liable for any damage that occur to the goods.

Inconclusion FOB <u>destination</u> is the term used when ownership of the goods transfers to a buyer when the goods arrive at the buyer's place of business.

Learn more about FOB destination here:brainly.com/question/24976258

7 0
2 years ago
When must you inspect your tools and extension cords?
Iteru [2.4K]

Answer:

Testing should be conducted on each piece of equipment every three months, as well as before first use or return to service after repair. In order to ensure a grounding wire is electrically continuous throughout the extension cord or power tool, a continuity test must be conducted.

Explanation:

3 0
3 years ago
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