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AleksAgata [21]
3 years ago
10

Suppose a piece of plant equipment that PepsiCo put into service on January 1, 2014, at a total cost of $300,000 with an expecte

d useful life of 5 years and a salvage value of $60,000 is sold on June 30, 2018, for $60,000. The accumulated depreciation is $216,000.
What would the journal entry look like to record this sale?
Business
1 answer:
Iteru [2.4K]3 years ago
7 0

Answer:

Juen 30 2018 Cash                                                  $60000 Dr

                       Accumulated Depreciation              $216000 Dr

                       Loss on Disposal-Plant Equipment  $24000 Dr

                                   Plant Equipment                           $300000 Cr

Explanation:

The sale of an asset requires a firm to write off that asset from the books at cost. The writing off would require the credit to the asset account at cost along with a debit to the accumulated depreciation account that is created against this asset.

We also calculate the gain or loss on disposal of asset. An asset has a gain on disposal if the cash received from its sale is more than its carrying value and vice versa.

Carrying Value = Cost - Accumulated Depreciation

Carrying value = 300000 - 216000 = $84000

The asset loss on disposal = 60000 - 84000 = 24000 loss

We debit the loss on disposal and cash received from sale to complete the journal entry

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_____ involves determining the specific job tasks and responsibilities, the work environment, and the methods by which the tasks
const2013 [10]

Answer:

c. Job design

Explanation:

Job design refers to establishing tasks, responsabilities and procedures that are necessary in order to perform a specific job. Also, job design has a goal of organizing the work in a way that it encourages employees satisfaction so they have a good performance that will help to accomplish the objectives set by the company. So, according to this, the answer is job design.

5 0
3 years ago
The u.s. health care system has been historically resistant to change due to entrenched interests from
Nonamiya [84]

The U.S. health care system has been historically resistant to change due to entrenched interests from <em>entrenched health system industries which have focused more on the question of “Who pays?” which makes sense from their point of view stating that corporations are legally obligated to protect investors’ interests</em>. Health care leaders together with policymakers over time have attempted several incremental fixes by; attacking fraud, enforcing practice guidelines, reducing errors,  and trying to make patients better “consumers,” by implementing electronic medical records but none of these has had much impact.

8 0
3 years ago
6. Say whether the following words are (just) vague, (just) ambiguous, both vague and ambiguous, or neither. Briefly justify you
Nadya [2.5K]

Answer:

When something is vague, it is not being specific but when something is ambiguous, it has multiple meanings and so can be open to interpretation.

a. Middle class ⇒ Both VAGUE and AMBIGUOUS

Middle class is non specific because it is used as a blanket term for people or things not in either first or lower class. It also has multiple meanings.

b. Odd number ⇒ NEITHER

c. Gold ⇒ AMBIGUOUS

Gold has several meanings such as being a mineral, medium of exchange or even a color.

d. Bank ⇒ AMBIGUOUS

Bank also has different meanings. It could be a financial institution, land next to water or even a repository for blood.

e. Opportunity ⇒ VAGUE

Opportunity is vague unless the opportunity is described.

f. Jaguar ⇒ AMBIGUOUS

Jaguar has multiple means. It could be a animal or it could be a car.

g. Credit ⇒ AMBIGUOUS

Credit has several meaning as well. It could refer to loans, financial entry, increase in bank account etc.

8 0
3 years ago
Fern wants to work with a group of experts to find the best solution for a quality assurance problem with her company's new prod
horsena [70]

Answer:

Delphi method

Explanation:

Delphi method is defined as a structured communication technique. Initially it was developed as a interactive forecasting method which uses a panel of experts.

This method can also be used for face to face meetings.

Questionnaires are sent to panel of experts, anonymous responses are aggregated and presented to the group after each round. Questionnaires bare often sent through mail.

In this scenario where Fern wants to work with a group of experts to find the best solution for a quality assurance problem with her company's new product, the best option will be to use the Delphi method.

5 0
4 years ago
The basic purpose of imposing legal reserve requirements on commercial banks is to: A. Assure the liquidity of commercial banks
Aliun [14]

Answer:

Provide a device through which the credit-creating activities of banks can be controlled

Explanation:

The legal reserve requirement is the minimum amount mandated by Central banks for banks to have as their minimum reserves.

The legal reserve requirement is used by the government as a means to control the supply of money in the economy.

If the central bank wants to reduce money supply, it increases the legal reserve requirement and if it wants to increase money supply, it reduces the legal reserve requirement.

A high reserve requirement reduces the amount that banks can make available for loans.

I hope my answer helps you

5 0
3 years ago
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