Answer:
Gain on disposal = $7600
Explanation:
As the machine is sold on 1 April 2024, we first need to update the depreciation expense and charge the depreciation to the date. The depreciation has been charged till 1 December 2023. So, we need to charge the depreciation for three more months.
The formula for depreciation expense under straight line method is,
Depreciation expense per year = (Cost - Salvage value) / Estimated useful life
Depreciation expense per year = (24000 - 0) / 5
Depreciation expense per year = $4800 per year
Depreciation expense for three months = 4800 * 3/12 = $1200
Accumulated depreciation 1 April 2024 = 14400 + 1200 = $15600
To calculate the gain or loss on disposal, we first need to determine the net book value of asset and deduct it from the cash received on disposal.
NBV = Cost - Accumulated depreciation
NBV = 24000 - 15600
NBV = $8400
Gain on disposal = 16000 - 8400
Gain on disposal = $7600
Answer:
The correct Answer is "Estimation"
Explanation:
By utilizing the probability that the certain amount of workers will deal with advantage plan administrator working under the state of estimation. In which he use probability that specific measure of individuals will participate in that specific arrangement and expect interest rate of workers.
It would be the Banking act of 1933; made so that banks would be unable to invest their money so that people would have more faith in them.
Answer:
Routing number, account number and check number
Explanation:
There are three numbers present at the bottom of the check. On the left side or the first number is a nine digit number that is also called RTN, is routing number. This represents the code of the bank where the account was opened.
Second number in the middle is the account number which is a unique number. All transactions are carried out using this number.
The last number on the right side is the check number. It just represents the check number that one is writing to maintain records.