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RoseWind [281]
3 years ago
8

Piper's Pizza sold baking equipment for $25,000. The equipment was originally purchased for $72,000, and depreciation through th

e date of sale totaled $51,000. What was the gain or loss on the sale of the equipment
Business
1 answer:
just olya [345]3 years ago
6 0

Answer:

The gain on disposal is of $4000

Explanation:

To calculate the gain or loss on disposal, we first need to calculate the Carrying value, also known as the Net Book Value, of the asset at the time of sale. The Carrying value is calculated using the following formula,

Carrying Value or NBV = Cost - Accumulated depreciation

Carrying Value or NBV = 72000 - 51000  

Carrying Value or NBV = $21000

If the asset is sold for more than its carrying value, there is a gain on disposal. If it is sold for less than its carrying value, there is a loss on disposal.

As the asset was sold for $25000 which is more than its carrying value of $21000, there is a gain on disposal.

Gain on disposal = 25000 - 21000   = $4000 Gain

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Answer:

The problem was stated as part of the solution.

Explanation:

Decision making process: It is a process of making choices out of alternative available by gathering information, analysing the options and developing the alternative to make constructive desicion.

Steps for goods decision making are:

  • Identify goal.
  • Gather information.
  • Consider the consequences.
  • Make decision.
  • Evaluate decision.

In the given case, Absenteesim is identified problem of the team. The meeting was called to define problem, however, suggestion were ignored by the group and decision was made to fire employee those are absent from Monday, which is not the constructive decision as firing employee can not be the solution rather it will create bigger problem for the organization.

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4 years ago
On December 1, Milka Inc. borrows $500,000 from the bank. Interest of 6% is due in six months. On December 31, Milka recognizes
Leokris [45]

Milka's balance sheet reports: Interest payable for one month.

<h3>What is interest?</h3>

The fee you pay to borrow money or the fee you charge to lend money is called interest.

Some features of interest are-

  • The fee paid for the privilege of borrowing money is called interest, and it is often stated as an annual percentage rate (APR).
  • The compensation a lender or financial organization receives for giving out money is called interest.
  • The most common way to represent interest is as a yearly percentage of the loan amount.
  • The interest rate on the loan is known as this percentage.
  • For instance, if you put money in a savings account, a bank will provide you interest.

The three types of interest include -

  1. simple (regular) interest: The daily interest rate, the principle, and the number of days between payments are multiplied to determine simple interest.
  2. accrued interest: The amount of interest accrued on a loan or other financial obligation as of a certain date that has not yet been paid back.
  3. compounding interest: The interest you earn on interest is known as compound interest. Simple math may be used to demonstrate this: If you have $100 and it generates 5% interest annually, you will have $105 at the end of the first year. You'll have $110.25 after the second year is over.

To know more about the estimation of simple interest, here

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5 0
2 years ago
Being antisocialble with people can lead you in serious danger
TEA [102]

Answer:

is this a question?

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6 0
3 years ago
If a company's scope is too big, what is likely to happen?
Sever21 [200]
If a company's scope is too big then the company will lose its direction and focus.
5 0
4 years ago
Read 2 more answers
Which pathways are part of the Human Services career cluster? Select all that apply.
beks73 [17]

Answer:

consumer services

counseling and mental health services

early childhood development and services

family and community services

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Explanation:

The Human Services Career Cluster are simply skills that prepares one to take on jobs that cater for human and family needs. This job could either be as a social worker, pedicurist, etc, as human needs will be addressed.

The pathways which are part of the Human Services career cluster include consumer services

counseling and mental health services

early childhood development and services

family and community services

personal care services.

3 0
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