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diamong [38]
3 years ago
14

An asset was purchased for $ 26 comma 000 on January​ 1, 2019. The​ asset's estimated useful life was five​ years, and its resid

ual value was $ 4 comma 000. The straightminusline method of depreciation was used. Calculate the gain or loss if the asset is sold for $ 19 comma 000 on December​ 31, 2019, the last day of the accounting period.
Business
1 answer:
Zielflug [23.3K]3 years ago
5 0

Answer:

Loss on disposal $1,800

Explanation:

Cost of Asset            26,000

Useful life               5years

Sale proceeds       19,000

Depreciation for the year=$26,000/5=$5,200

Written Down value(WDV)=$26,000-$5,200=$20,800

Loss on Disposal= Sale proceeds-   WDV=$19,000-$20,800=$1,800  

It is assumed that depreciation is fully charged for the year on asset.                            

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3 0
3 years ago
Suppose a bond with a 10% coupon rate and semiannual coupons, has a face value of $1,000, 20 years to maturity and is selling fo
NikAS [45]

Answer:

The YTM is less than 10%

Explanation:

If a coupon rate of a bond is greater than its yield to maturity (YTM), the bond is said to trade at a premium. The Bond's current price would be greater than its Face value

If a coupon rate of a bond is less than its yield to maturity (YTM), the bond is said to trade at a discount. The bonds current price would be less than its face value

In this Question, the bond's current price ($1,197.93) is greater than its face

($1,000) which means that the bond is trading at a premium. Therefore, we can conclude that the bond's YTM is less than its coupon payment. In this question the coupon rate is 10%, therefore the YTM should be less than 10%.

8 0
3 years ago
I will give brainliest if correct
stepan [7]

Answer:

I believe that it is A and C

Explanation:

5 0
3 years ago
When accounting for the general fund, the encumbrances control account is credited when:_____.
polet [3.4K]

When accounting for the general fund, the encumbrances control account is credited when: purchase order is filled or canceled.

<h3>What do you mean by general fund?</h3>

A general fund is defined as the fund which is known as the primary operating fund of a governmental unit. Most of the usual activities are supported by general fund.

On the other hand, the encumbrance control account is defined as settlement under which the some amount of money keep aside to meet the anticipated expenses.

For example, the reserve is used for maintaining the contract or purchase order.

Learn more about general fund, refer to the link:

brainly.com/question/24020252

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7 0
11 months ago
Chicken and tuna fish are substitutes in consumption. Suppose that new technology decreases the cost of catching tuna. This woul
mihalych1998 [28]

Answer:

B. a decrease; a decrease

Explanation:

Substitutes' goods are products that can be consumed in place of each other.  If one product is missing, consumers will be ready and willing to buy its substitute. An increase or fall in the price of a good or services will cause the demand for its substitute to move in the opposite direction.

Equilibrium quantity is when supply matches the demand. If the price of Tuna fish decreases, its demand will increase as more customers will afford it. Tuna and chicken are substitutes, should the price of Tuna decrease,  customers will prefer to consume Tuna over chicken.  Consequently, the demand for chicken will reduce w leading to a decrease in its price.

6 0
3 years ago
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