Answer:
$38,000 loss
Explanation:
For calculation of entry to record the sale of the tractor first we need to determine the total depreciation and net book value on Jan 1, 2018 which is shown below:-
Total depreciation = (Tractor cost - Salvage value) × (Hours in 2016 + Hours in 2017) ÷ Hours of operation
= ($180,000 - $20,000) × (2,400 + 2,100) ÷ 10,000
= $72,000
Net book value on January 1, 2018 = Tractor cost - Total depreciation
= $180,000 - $72,000
= $108,000
Loss on sale = Sold tractor amount - Net book value on January 1, 2018
= $70,000 - $108,000
= $38,000
Answer:
b. the government will have a balanced budget
Answer:
The answer is option A. Designing a new backpack at an outdoor sports equipment company is an example of Product-level activity.
Explanation:
A product-level activity is carried out in support of a specific product or activity.
These actions are taken irrespective of the amount of production or service volume associated with a product.
Product level activities relate to specific products and must be carried out regardless of how many batches or units of product are produced or sold.
For example, designing a new backpack at an outdoor sports equipment company is product specific and could involve the production of units or batches to be sold.
Answer: 1. $218750 ; 2. $231, 250 ; 3. $11562.50
Explanation:
1. The bonds with a par value of $250,000 and implied selling price of 87 ½.
Cash proceed = 250,000 × 87.5%
= $218,750
2. Since it's semiannual interest payments, the total amount of bond interest expense that will be recognized over the life of these bonds will be:
[20 × (250,000 × 8% × 6/12)]+ $250,000 - $218,750
= $200,000 + $250,000 - $218,750
= $231, 250
3. The amount of bond interest expense recorded on the first interest payment date will be:
= Total bond interest expense/number of payments
= $231,250/20
= $11562.50
Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine production and pricing decision is the kind of 'Market Socialist' economy.
Market socialism, sometimes known as liberal socialism, is an economic system that strikes a balance between free enterprise and socialist planning. In this system, businesses are publicly owned, but output and consumption are determined by the market rather than by governmental planning.
In real life, Market socialism components have been present in a number of different economies. A version of market-based socialism, based on socially owned cooperatives, workers' self-management, and market allocation of capital, is usually regarded as having existed in the former Socialist Federal Republic of Yugoslavia.
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