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
BARSIC [14]
4 years ago
6

A company sold equipment that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the equipment was $40,0

00. The company should recognize a:
Business
1 answer:
Maurinko [17]4 years ago
7 0

Answer:

$0 Gain or Loss

Explanation:

Given that,

Original cost of the equipment = $100,000

Accumulated depreciation on the equipment = $40,000

Book value of the equipment:

= Original cost of the equipment - Accumulated depreciation on the equipment

= $100,000 - $40,000

= $60,000

Gain/Loss = Sale value - Book value of the equipment

                 = $60,000 - $60,000

                 = $0

Therefore, the company should recognize a $0 Gain or Loss.

You might be interested in
EB5.
lord [1]

Answer:

                                    $

Material used            2,500                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

Direct labour             5,000

Overhead applied    200

Cost of goods sold   7,700                                                                                    

Explanation:

The overhead applied is the difference between cost of goods sold and cost of material used and direct labour. The cost of goods sold is $7,700 while the cost of material and labour is $7,500. The difference of $200       represents the overhead applied.                                                                                                                                                                                                                                                

7 0
3 years ago
In a recent year Sunland Company had net income of $360000, interest expense of $72000, and a times interest earned of 10. What
Otrada [13]

Answer:

$648,000

Explanation:

Given that;

Net income = $360,000

Interest expense = $72,000

Times interest earned = 10

Net Income + Interest expense + Tax expense ÷ Interest expense = Times interest earned.

($360,000 + $72,000 + Tax expense) /$72,000 = 10

Tax expense = $288,000

Therefore;

Sunderland's income before taxes for the year

= Net income + Tax expense

= $360,000 + $288,000

= $648,000

4 0
3 years ago
Ira believes that Damien soap moisturizes effectively. When she sees Damien shampoo at the store, she purchases it as she assume
tino4ka555 [31]

Answer: Stimulus generalization.

Explanation:

Ira is making purchase of Damien soaps based on the Stimulus generalization that the soap would perform in the same way as what she has in mind. Stimulus generalization is when an individual reacts to similar stimuli in similar ways.

3 0
3 years ago
A strategy that is preferred by an individual regardless of an opponent's decision is called:
djverab [1.8K]
<span>A strategy that is preferred by an individual regardless of an opponent's decision is called: dominant strategy. regardless of what any other players do, the strategy earns a player a larger payoff than any other. If one strategy is dominant, than all others are dominated.</span>
5 0
3 years ago
Horrocks Company granted 180,000 restricted stock awards of its no par common shares to executives, subject to forfeiture if emp
My name is Ann [436]

Answer:

c. 120,000 shares

Explanation:

\frac{No adjustment to the numerator}{180,000-60,000= 120,000}

*Assumed purchase of treasury shares

$600,000

//\frac{10}{60,000}

Note: The proceeds also must be increased (or decreased) by any tax benefits that would be added to (or deducted from) paid-in capital when the eventual tax deduction differs from the amount expense, the "excess tax benefit." Since that occurs when the stock price at vesting differs from the stock price at the grant date, the fact that the market price remained at $10 avoided that issue.

3 0
3 years ago
Other questions:
  • Advancements in medical technology often lead to new careers.<br><br> True<br> False
    10·2 answers
  • If fixed costs are $850,000 and the unit contribution margin is $50, profit is zero when 15,000 units are sold.
    9·1 answer
  • Economic facts in terms of number are known as​
    6·1 answer
  • What is the difference between commodity money and fiat​ money?
    13·1 answer
  • In case you have to complete an application on site, you want to make sure you have your completed Personal Fact Sheet.
    12·2 answers
  • Which of the following is true about depreciation?
    6·1 answer
  • Insurance Reading Quiz
    11·1 answer
  • Am I beautiful please give a honest reply.​
    13·2 answers
  • You are provided with the following information for Najera Inc. for the month ended June 30, 2017. Najera uses the periodic meth
    7·1 answer
  • Why might digital media be more effective than television ads?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!