Answer:
(C) $200.00 gain
Explanation:
The gain or loss on sale of fixed asset is calculated as follows:
Gain\Loss = Sale Price - (Cost of asset - Accumulated Depreciation)
If the value is positive it is gain and if the value is negative it is loss.
Here, we are provided that cost of asset = $6,000
Accumulated Depreciation = $5,000
And selling Price = $1,200
Thus, Gain/Loss = $1,200 - ($6,000 - $5,000)
= $1,200 - $1,000 = $200
As the value is positive that is selling price is more than carrying value of the asset there is a gain of $200
Thus, the correct option is
(C) $200.00 gain
It is a true statement that the preferred stockholders must receive their current-year dividends before the common stockholders can receive any dividends.
<h3>What is a
preferred stockholders?</h3>
These are the owners of the preferred stock that is treated as a class of stock that granted certain rights that differ from common stocks.
The preferred shareholders have higher priority over a company's income which makes them being are paid dividends before the common shareholders. The common stockholders are last in line when it comes to company assets which makes them being paid out after creditors, bondholders, and preferred shareholders.
Therefore, It is a true statement that the preferred stockholders must receive their current-year dividends before the common stockholders can receive any dividends.
Read more about preferred stockholders
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fixed expenses ........... it makes sense
with semen and a fertilized egg
Answer:
1) New 2) Location 3) Create
Explanation:
Edg 2020