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GenaCL600 [577]
3 years ago
11

. Dallas Wildcat Drilling Co. sells an oil-drilling rig for $3,000,000. The drilling rig was purchased in 2013 for $2,000,000. D

epreciation deductions of $1,200,000 have been taken up to the time of sale. What amount and character of gain will Dallas report from the sale of this asset?
Business
1 answer:
olga2289 [7]3 years ago
5 0

Answer:

$2,200,000 gain

Explanation:

When the amount received from the disposal of an asset is lower than the carrying or net book value (NBV) of the asset, the company makes a loss on disposal otherwise, the company makes a gain on disposal.

The carrying amount of the asset is the difference between the asset's cost and accumulated depreciation as at the date of disposal.

Asset NBV = $2,000,000 - $1,200,000

= $800,000

Gain/(loss) on disposal = $3,000,000 - $800,000

= $2,200,000

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Answer:

1,2,4,3

Explanation:

Liquidity measures how quickly an asset can be converted and used as a medium of exchange.

$50 bill is the most liquid because it can be readily used as a medium of exchange without any conversion.

The funds in a savings account is the second most liquid because because it must first be withdrawn from a bank account before it can be used as a medium of exchange. It can be converted to a medium of exchange within a day.

A bond issued by a publicly traded company is the third most liquid because it takes a longer period for it to be converted to cash.

A boat is the least liquid because it takes a long while to find a buyer for a boat.

I hope my answer helps you.

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Answer: proper hand hygiene

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When might be the best time to start saving for retirement?
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Research shows that most managers have characteristics that fall into two or three decision-making styles, and that decision-mak
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Answer:

False

Explanation:

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But managers, and specially true leaders have it a little more complicated. The four main decision making styles that apply to leaders are:

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