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Ilia_Sergeevich [38]
4 years ago
7

A company had a tractor destroyed by fire. the tractor originally cost $85,000 with accumulated depreciation of $60,000. the pro

ceeds from the insurance company were $20,000. the company should recognize:
Business
1 answer:
ICE Princess25 [194]4 years ago
4 0
<span>Original cost of the tractor = 85,000 Less Accumulated depreciation = 60,000 Remaining book value of the tractor = 85,000 - 60,000 = 25,000. Amount received from insurance company = 20,000 Therefore loss due to fire = 25,000 - 20,000 = 5,000 The company should recognize this amount as its own loss and debit the loss account. Corresponding credit should be given to tractor account so that tractor account will show zero balance.</span>
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Which business model sells goods or services to buyers who then resell or use them for business purposes?
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Answer:

<u>wholesalers, distributors and manufacturers</u>.

Explanation:

The <u>wholesalers, distributors, and manufacturers</u> trade goods or services to consumers, which then resell or utilize them for trading persistence. Resellers purchase goods in a large amount from other companies such as wholesalers, distributors, and manufacturers. Later they trade the singular factors to purchasers, at a favorable cost. Thou won’t gain enough hype throughout reselling. That’s the conventional method of retailing, which we distinguish from most utmost huge mall storehouses autonomous independent online stores.

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Colin told the management team that their Ohio-based company should produce the textiles for the new line of jackets in China be
ELEN [110]

Answer:

Free trade.

Explanation:

This theoretical policy can be explained to be certain laws under which the government is seen to impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. Therefore, it is directly seen to be the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition. It is seen in terms of unrestricted measures in importation and also exportation of goods in and out of a country.

In the world of our own, which is of the recent times, this policy implementation is done by means of a formal and mutual agreement of the nations which are seen to be involved. Also this policy in some cases may simply be the absence of any trade restrictions.

7 0
3 years ago
price quantity total cost $10 40 $374 $10 41 $376 $10 42 $360 $10 43 $365 $10 44 $390 $10 45 $400 $10 46 $412 $10 47 $425 refer
MrRa [10]

The firm's MRP when it produces 44 units of output (from top to bottom) MRP, Regulated: 200, 160, 120, 80, 40.

<h3>What is output?</h3>
  • Output is the quantity of goods or services produced in a given period of time.
  • For a firm that produces a good, the output may simply be the number of units of that good produced each period.
  • Months or Years in production.
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To learn more about output from the given link :

brainly.com/question/13736104

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6 0
1 year ago
The following transactions occur for Cardinal Music Academy during the month of October:
tamaranim1 [39]

Answer:

The entries to record the transactions are given below.

a. Provide music lessons to students for $7,000 cash.

Debit Cash Asset                          $ 7000

CreditService Revenue income   $ 7000

b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash.

Debit Prepaid Insurance equipment Asset $ 3000

Credit Cash Asset                                          $ 3000

c. Purchase musical equipment for $10,000 cash.

Debit Equipment Asset    $ 10,000

Credit Cash Asset            $ 10,000

d. Obtain a loan from a bank by signing a note for $10,000

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7 0
3 years ago
Six equal partners own a local pizzeria. The partners have made a tremendous profit and bought many personal items such as cars,
Tanya [424]

Answer:

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Explanation:

Let A and B are partners of a share amount Z

If A's amount is x and share of B's amount is y, then share of A is calculated as

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Number of partners in Pizzarie is 6 with all having equal shares

Value of business is $675,000

Damage to be paid is $1.2 million

Hence, the money to be paid by each partners individually is:

= $675,000 / 6

= $112,500

Therefore, money to be paid by each partner individually is $112,500

5 0
3 years ago
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