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Keith_Richards [23]
3 years ago
15

The equipment account had a $36,000 balance at the beginning of the year, and a $30,000 balance at the end of the year. The accu

mulated depreciation account had a balance of $22,000 at the beginning of the year, and a $17,000 balance at the end of the year. The income statement reported depreciation expense of $4,000 for the year. Equipment costing $10,000 was sold for its book value. Cash received from the sale to be reported in the Investing Activities section is
Business
1 answer:
Alex_Xolod [135]3 years ago
5 0

Answer:

$1000

Explanation:

The cash received from the equipment sale is equals to the initial cost of the equipment which is $10,000 minus total accumulated depreciation on the equipment charged till date.

Total accumulated depreciation on the equipment=Opening balance of accumulated depreciation+depreciation charge for the year-closing balance of accumulated depreciation

Total accumulated depreciation on the equipment=$22,000+$4,000-$17,000

                                                                                   =$9,000

cash proceeds=$10,000-$9,000=$1000

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Selena is leading the strategic groups through an exercise to define the company’s mission and goals through a SWOT (strengths,
Allushta [10]

Answer: Strategy Formulation.

Explanation:

Selena is making use of Strategy Formulation, where the company determines their mission and goals by SWOT analysis. Strategy Formulation involves searching for the best actions that an organization can take to ensure the organization achieved success.

8 0
3 years ago
The process of identifying central ideas and details and arranging them in the right sequence is known as _____.
ipn [44]
<span>The process of identifying central ideas and details and arranging them in the right sequence is known as outlining.</span>
3 0
3 years ago
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A firm has current assets that could be sold for their book value of $22 million. The book value of its fixed assets is $60 mill
love history [14]

Answer:

the firm market to book ratio is 1.48

Explanation:

The computation of the market to book ratio is shown below:

The Market values is

= $22 million + $90 million - $50 million

= $ 62 million

And, the Book values is

= $22 million + $60 million - $40 million

= $42 million

Now the firm market to book ratio is

= $62 million ÷ $42 million

= 1.48

Hence, the firm market to book ratio is 1.48

6 0
3 years ago
Compared to a perfectly competitive firm, a monopolist____________.
alukav5142 [94]

Answer:

D. usually produces an inefficiently small level of output.

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices is usually set by market forces. There is no need for advertising because all firms produce homogenous products. There is little or no need for government regulation because goods and services are efficiently distributed.

A monopoly is characterised by one firm in the industry. The firm sets the market price. The government regulates the activities of the activities of a monopoly to reduce inefficiency that usually occur. Either quantity produced or price are usually regulated by the government to reduce inefficiency and ensure fair distribution of goods and services.

Monopoly firms usually advertise and undertake more research activities when compared to a pure competition.

I hope my answer helps you

6 0
3 years ago
National Art is a new business. During its first year of operations, credit sales were $40,000 and collections were credit sales
zmey [24]

Answer:

The ending balance of Allowance for Bad Debts account is $800

Explanation:

The computation of the ending balance of allowance for bad debt is shown below:

= Credit sales × uncollectible rate

= $40,000 × 2%

= $800

The estimated amount would be considered as an allowance for bad debts i.e $800, So no other amount would be come while computing the ending balance of Allowance for Bad Debts account.

However, the other information which is given in the question is not relevant. Hence, ignored it

6 0
3 years ago
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