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Wittaler [7]
3 years ago
12

Career Services, Incorporated sold some office equipment for $52,000 on December 31, 2021. The journal entry to record the sale

would include a gain or a loss of how much if the original cost of the equipment was $80,000 with a residual value of $5,000 and a useful life of 10 years
Assume the machine was purchased onJanuary 1,2009 and depreciated using the straight-line method.

A. Gain of $2,000.
B. Loss of $9,500
C. Gain of $9,500
D. Loss of $2,000
Business
1 answer:
Papessa [141]3 years ago
4 0

Answer:

Date of selling machine is 31 Dec 2021, then gain of $47,000

If date of selling this machine is 31 Dec 2012 (used tenor: 4 years), then gain of 2,000

Explanation:

Depreciation per year = (original cost $80,000  - residual value $5,000)/ useful life of 10 years

= $7,500 per year

Date of purchase: January 1, 2009

Date of sold:  December 31, 2021

⇒ Actual life of this machine = 13 years, but the maximum depreciation as accounting rule is for 10 year only

After 13 years, the book value = original cost - depreciation booked

= $80,000 - $7,500*10 = $5,000

Gain/ Loss =  sold price - boo value = $52,000 - $5,000 = $47,000

If date of selling this machine is 31 Dec 2012 (used tenor: 4 years), then we have:

Gain/ Loss = sold price - book value

= $52,000 - ($80,000 - $7,500*4) = 2,000

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Answer:

c. oportunity cost

Explanation:

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uranmaximum [27]

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Explanation:

The principles are highly accurate for many industries that are given in the article  "The Effect of Price on Number of Suppliers."

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The industry is largely volatile and there are trends that come and go in a couple of years and with them go away whole labels and and artist.

The people who survive are the ones that adapt and do not go all in on one trend or another.

This one can even see in other business practices.

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3 years ago
Barney owns a lot valued at $84,000. he purchases an adjoining lot for $66,000 and merges the two properties. the current apprai
bezimeni [28]

The freshly developed lot currently has a $177,500 appraised value. as an illustration: plottage

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What does plottage increment mean?

The value added by fusing the lots is referred to as plottage increment. As an illustration, Steve is the owner of two adjacent plots. It costs $40,000 for each one. The overall valuation has increased by $10,000 and is now $90,000 when consolidated into a single property.

To know more about Plottage

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sattari [20]

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in this case

$1.05 billion - $1.06 billion = -<u> 0.01 billion or - $100 million</u>

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A budget balance is reached when a government expenditures are equal to it's income.

In this case, since the country's only source of income it is slightly less than than what is required to run the government, it has a budget deficient.

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3 years ago
Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June u
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Answer: $10240

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Based on the information that have been provided in the question, the planning budget for the utilities in June will be calculated as:

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3 0
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