Hi there
First find the book value of the truck
Book value=
Cost-accumulated depreciation
36,000−30,000
=6,000
disposed of for $5,000 cash
Book value 6000
So the answer is
Loss of 1000 (5000-6000)
Good luck!
Answer:
a. Product X = 3.50 years
Product Y = 3.25 years
b. Product Y
Explanation:
The cash flows for the two products as well as the balance at the end of each year is given as follows:
For both products, the payback period is reached between the third and fourth year.
Product X:
Product Y:
Under the payback method, the alternative that presents the shortest payback period should be selected. Therefore, Product Y should be selected.
Answer:
Explanation:
The journal entry is shown below:
On February 20
Organization expense A/c Dr $60,000
To Common Stock A/c $25,000 (1,000 shares × $25)
To Paid in capital in excess of par-Common Stock $35,000
(Being the organization expense is recorded and remaining balance is credited to the Paid in capital in excess of par-Common Stock)
Answer:
The answer is EV (Earned Value)
Explanation:
It is the value of the work actually performed, determining the earned value includes collecting data on the percent complete for each work package, then converting this percentage to a dollar amount by multiplying the TBC of the work package by the percent completed.
I hope these helps, if it does please give brainliest.
Answer:
Company Pea
Consolidated financial statements should be prepared to report the financial status and results of operations for:
Essone - 90%
Esstwo = 72% (90% x 80%)
Essthree = 72% (90% x 80% x 100%)
Explanation:
Company Pea is described as the holding or parent company of Company Essone. This means that Essone is Company Pea's subsidiary. In preparing consolidated financial statements to report the financial status and results of operations for Company Essone, Company Pea will consolidate 100% of Company Essone while accounting for noncontrolling interest of 10% (effectively 90%).
When Company Essone is consolidating its financial statements, it should consolidate 80% of Company Esstwo while Esstwo consolidates 100% of Company Essthree.
But since Essthree is also a subsidiary of Company Pea, Company Pea will consolidate Esstwo and Essthree's financials to the tune of 72% respectively, while consolidating 90% of Essone's.
