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diamong [38]
4 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]4 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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Answer:

B) $2,850

Explanation:

1: Find the discount: $3,000*5% = $150

2: Subtract the discount: $3,000 - $150 = $2,850

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3 years ago
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3 years ago
A customer value proposition is a unique strength relative to competitors that provides superior returns, often based on quality
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4 0
3 years ago
If other things are held constant, an increase in the United States imports will
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Other things remaining constant, increased US imports will <u>D. Tend to cause the </u><u>dollar</u><u> to depreciate</u> because the world supply of dollars will rise.

<h3>What is the implication of increased United States imports with other factors constant?</h3>

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Learn more about exchange rates at brainly.com/question/2202418

7 0
2 years ago
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Marysya12 [62]

Answer:

The journal entry is as follows:

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Equipment (Fair value) A/c Dr. $9,000

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8 0
3 years ago
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