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Damm [24]
3 years ago
12

Kimberly sold equipment that she uses in her business for $50,000. Kimberly bought the equipment two years ago for $60,000 and h

as claimed $30,000 of depreciation expense. What is the amount and character of Kimberly’s gain or loss?
Business
1 answer:
PSYCHO15rus [73]3 years ago
7 0

Answer:

$20,000 ordinary gain

Explanation:

Data provided in the question:

Cash proceeds from Selling of the equipment = $50,000

Purchasing cost of the equipment = $60,000

Depreciation expense = $30,000

Now,

The book value of the equipment

= Purchasing cost of the equipment - Depreciation expense

= $60,000 - $30,000

= $30,000

Since,

the amount of proceeds from sales is higher than the book value of the equipment

Therefore a gain will be recognized

The amount of Gain = proceeds from Selling - book value

= $50,000 - $30,000

= $20,000

Hence,

$20,000 ordinary gain

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 D. 3.

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A bank can have different types of assets, including physical assets, such as equipment and land; loans, including interest from consumer and business loans; reserves, or holdings of deposits of the central bank and vault cash; and investments, or securities.

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Answer:

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and,

to make profit of $30,000 , the number of hot dog sold should be 30,000

Explanation:

Given:

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Now,

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At breakeven point,

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Thus,

$60,000 + $3.5x  = $6.5x

or

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or

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or

x = 20,000

To earn profit of $30,000

Now,

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$90,000 = $3y

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Hence,

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Aggregate supply (as) denotes, while holding the price of inputs fixed, the <u>price level of output</u> that firms choose to produce and <u>GDP.</u>

<h3>What is aggregate supply?</h3>

Aggregate supply is when goods and service produced or manufacture are made available to buyers  or can be defined as the amount of goods produce and supply to the market at particular period of time.

Aggregate supply can tend to increase in a situation were the price of goods and services decrease or when the price of product fall.

Therefore, Aggregate supply donate, while holding the price of inputs fixed, the price level of output that firms choose to produce and Gross domestic product (GDP).

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