1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
slava [35]
3 years ago
13

purchased equipment on January​1, 2018​,for $ 27 comma 419.Suppose Duck Pond Golf Club Sold the equipment for $ 19 comma 000 on

December 31 comma 2019.Accumulated Depreciation as of December​31, 2019​,was $ 12 comma 186.Journalize the sale of the​ equipment, assuming​ straight-line depreciation was used.
Business
1 answer:
ale4655 [162]3 years ago
3 0

Answer:

31 December 2019

Cash                                      19000 Dr

Accumulated depreciation  12186 Dr

            Equipment                        27419 Cr

            Gain on disposal              3767 Cr

Explanation:

Straight line depreciation method charges a constant depreciation expense through out the useful life of the asset.

To calculate the gain or loss on disposal/sale of an asset like this, we need to first determine the book value or carrying value of asset on that day.

Carrying value = Cost - Accumulated depreciation

Carrying value = 27419 - 12186

Carrying value = $15233

Gain or (loss) on disposal = Cash/Sale proceeds - Carrying Value

Gain or (loss) on disposal = 19000 - 15233

Gain or (loss) on disposal = $3767 Gain

You might be interested in
Jupiter Explorers has $5,600 in sales. The profit margin is 3 percent. There are 4,000 shares of stock outstanding, with a price
Irina18 [472]

Answer:

Price-earning ratio is 28.57 .

Explanation:

Price earning is a ratio widely used by common stock holder in stock market. The ratio is used to measures share price in relation to earning per share. The ratio tells us years require to recover amount spend on acquisition of share.

Detail calculation is given below.

Sales                      $ 5,600  -A

Net profit               $    168   -B

EPS                         $ 0.042 -B/4000

Price-earning ratio = 1.2/EPS  = 28.57  

6 0
3 years ago
A firm offers terms of 1.8/10, net 30. a. What effective annual interest rate does the firm earn when a customer does not take t
LUCKY_DIMON [66]

Answer:

a) 39.304%

b) 67.91%

c) 14.17%

Explanation:

a. Given"

Offer terms = 1.8/10

Now,

The Effective annual interest rate is given as:

= (\frac{\textup{100}}{\textup{100 - Discount rate}})^{(\frac{365}{total period - discount period})}-1

on substituting the respective values, we get

= (\frac{\textup{100}}{\textup{100 - 1.8}})^{\frac{365}{(30 - 10)}}-1

= 0.39304

or

= 39.304%

similarly,

b. for 2.8/10 net 30

Effective annual interest rate = (\frac{\textup{100}}{\textup{100 - 2.8}})^{(\frac{365}{(30 - 10)})}-1

= 0.6791

or

= 67.91%

c. for 1.8/10 net 60

Effective annual interest rate = (\frac{\textup{100}}{\textup{100 - 1.8}})^{(\frac{365}{(60 - 10)})}-1

= 0.1417

or

= 14.17%

8 0
4 years ago
Productive resources are _____. A.factors that are used to make goods and services
svp [43]
Productive resources are factors that are used to make goods and services
7 0
3 years ago
suppose an economy is hit with a positive oil price shock in one period that raises the level of oil prices permanently. if adap
Tasya [4]

The economy is hit with a positive oil price shock in one period that raises the level of oil prices permanently. if adaptive expectations hold, this wil shift the AS curve up initially and then shift the AS curve back to original position in the following period.

<h3>What is the AS curve?</h3>

The aggregate supply curve describes the amount of real GDP that  the economy supplies at different price levels. The reasoning used to construct the aggregate supply curve is different from the reasoning used to construct the supply curves of individual goods and services. The supply curve for a single good is constructed under the assumption that the prices of production inputs remain unchanged. If the price of good X rises, the unit cost for sellers to supply good X does not change,  so sellers are willing to supply more of good X - so the supply curve for good X shifts upward. However, the aggregate supply curve is determined based on the price level. An increase in the price level increases the price  producers receive for their output and thus increases production.

To learn more about AS curve, refer;

brainly.com/question/14020407

#SPJ4

4 0
1 year ago
On December 31 of the current year, Plunkett Company reported an ending inventory balance of $211,500. The following additional
Aloiza [94]

Answer:

$153,900

Explanation:

Calculation the amount that Plunkett should report in ending inventory on December 31

31 December Ending Inventory=$211,500 - $43,300 - $14,300

31 December Ending Inventory=$153,900

Therefore the amount that Plunkett should report in ending inventory on December 31 is $153,900

6 0
3 years ago
Other questions:
  • What is a misdemeanor?
    15·1 answer
  • The strategic performance evaluation does not monitor the activities of external sources of marketing assistance.
    15·1 answer
  • __________ consist of organization infrastructure (administration and management), human resources (employee recruiting, hiring,
    15·1 answer
  • A firm in monopolistic competition tends to have more control over price when it is g
    13·1 answer
  • when creating content for an audience that may be visually impaired to a point be sure to choose_____?
    15·1 answer
  • Mark and Mike are having a few beers together. Mike tells Mark about his lifelong quest to find the elusive pink elephant in the
    5·1 answer
  • Using these data from the comparative balance sheet of K. Leen Company, perform vertical analysis.
    10·1 answer
  • If a borrower's monthly interest payment on an interest-only loan at an annual interest rate of 7.3% is $877, how much was the l
    10·1 answer
  • By definition, empirical probability is equal to:
    13·1 answer
  • Amounts collected by the lender and held in a trust or impound account for future payment are called what?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!